We provide support for your Family-Owned Business

How we do it!
The Institute for Family-Owned Business (IFOB) is a non-profit 501 (c) 3 organization committed to supporting, strengthening and empowering family-owned businesses throughout the state of Maine. The IFOB serves family business owners, executives and employees through a wide range of continuing business education programs, networking opportunities and consulting services. The Institute is a comprehensive resource for family-owned business. 

Our definition of a family-owned business
A family business is a business wherein one owner either shares ownership or works in the business with at least one other family member (contemporaneously or overtime) and has a commitment to the continuation of the enterprise.

• Family-owned businesses make up 80% of Maine businesses, and 80-90% throughout the U.S.
• Create 70-90% of GDP globally annually
• Employ 62% of U.S. workforce
  
• Family-owned firms have a greater ROA (Return on Assets) than non-family firms by about 6.65%  
• Family businesses, both young and old, outperform non-family firms 
  - Source:  Family Firm Institute, Inc.
• 96% of business owners agree it’s important to have an exit strategy.  Only 13% have a plan that is current and written. - Source: White Horse Advisors
• There is a 30 / 13 / 3 % chance that a business will pass from the first to the fourth generation.
  

Thank you to our sponsors!

Founding Sponsors:

Elite Partners: