WHY JOIN THE IFB?
- Are you concerned about the lack of recognition that the family business sector receives?
- Are you concerned about the effects changes in policies, such as Business Property Relief, would have on your family business?
- Could governance in your family business be improved?
- Would your family benefit from sharing knowledge with, and learning from, other like-minded owners?
If you answer 'yes' to any of the above, membership of the IFB would benefit your family business.
How the IFB can help
IFB Representation
- Lobbying for policies that support a robust family business sector
- Engaging Government and key stakeholders in relevant policy consultations
- As the voice for UK family firms, communicating the strengths and values of the sector
IFB Forum
| Providing regional and national peer networking with other progressive family business owners
Seminars, dinners and Next Generation programmes
Presentations on family business issues by leading experts
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Who is eligible for IFB membership?
IFB welcomes family controlled businesses that have a strong track record of achievement. The business should be well respected in its market delivering products or services recognised for their exceptional quality. The company should either be in the second generation of ownership or the family will have a solid intention to pass on the business.
Member Representatives
IFB membership is for the family business, not an individual within the business. Members may nominate one or more representatives to whom all IFB communications will be addressed. The main representative is normally a family member and meetings are usually attended only by family members and directors. Other benefits include:
IFB Direct - Providing access to family business resources including case studies, constitutions and guides
IFB Research Foundation - Fostering thought leadership to strengthen the family business sector
Family Business Network - Automatic access to a global network of family business owners www.fbn-i.org
The IFB upholds the following principles
What is a family business?
A firm is a family enterprise, if:
- The majority of votes are in the possession of the natural person(s) who established the firm, in the possession of the natural person(s) who has/have acquired the share capital of the firm or in the possession of their spouses, parents, child or child’s direct heirs.
- The majority of votes may be indirect or direct.
- At least one representative of the family or kin is involved in the management or administration[1] of the firm.
- Listed companies meet the definition of a family enterprise if the person who established or acquired the firm (share capital) or their families or descendants possess 25% of the right to vote mandated by their share capital.
FEES
Election fee - Payable once on application for membership, £195 (plus VAT)
Annual fees
Membership - £1,495 (plus VAT)
Members nominate a main representative to whom all IFB communications will be sent.
Membership includes:
- Opportunity to engage with policy makers
- Exclusive access to seminars
- Complimentary invitations to networking events
- Membership of FBN International
- Free IFB Yearbook and copies of research findings
Additional representatives to whom all IFB communications will be sent.
£95 (plus VAT) per additional representative
MEMBERSHIP TERMS AND CONDITIONS
Annual membership fees are due each year on the anniversary of joining. Accounts are payable on receipt. Any account that is more than 45 days overdue will result in automatic disqualification of Membership.
Membership of IFB can be cancelled by providing one month's written notice to the Secretariat. No refunds will be made on fees already paid.
The Directors reserve the right to change the level of fees charged subject to one months notice prior to renewal.
All election, annual and additional fees include VAT and are due and payable by cheque or bank transfer on application.
SUMMARY OF ARTICLES OF ASSOCIATION
Members must uphold the Objects of the Institute as stated in the IFB's Memorandum of Association:
"To generate, stimulate, disseminate, promote and sponsor understanding and knowledge of the development of business and managerial practices relating to the position, requirements and interests of family businesses throughout the United Kingdom.“
The Institute is incorporated as a Company limited by guarantee.
The following provisions in the Articles of Association relevant to all Members are summarised for information. A complete copy of the Memorandum and Articles of
Association may be obtained from the IFB Secretariat:
- The Institute shall hold an annual general meeting each year. Members have the power under the Companies Act 1985 to requisition a general meeting.
- The quorum for general meetings is 10 Members (or their duly authorised representative) or one-tenth of the total number of Members (if less than 100) whichever is less.
- At general meetings each Member shall have one vote.
- The Members delegate powers of management to a Trustee board.
- The appointment of Trustees is subject to confirmation by the Members in general meeting. Members may appoint any person who is willing to act to be a Trustee either to fill a vacancy or as an additional Trustee.
- Each Member guarantees to contribute an amount not exceeding £1 to meet any liabilities in the event that the Company is dissolved or wound up.
- On attending IFB events Associate Members are requested to abstain from the solicitation of Members.