In this section:
NEXT GENERATION GROUP
Not many people can expect to inherit an ownership share in a sizeable family business, or become involved in managing one. Whether you choose to join the family business or not, being connected to a family business has its own unique challenges.
IFB’s Next Generation forum brings together younger members(18-40), who may or may not be involved with their family business, to discuss and explore the particular challenges they face. This forum provides great learning opportunities, a chance to meet like minded people in a friendly and sociable environment.
We are here to help you with the many questions you may be asking yourself, including
As a young person in a family business there are certain circumstances that are unique to you, such as a deep responsibility as the son, daughter, niece or nephew of the owner of a business. There is often uncertainty as to whether to join the business, accompanied by a fear of messing up what generations have worked hard to build. It can also be difficult to disagree with a family member over a business deal and then have lunch with them a few days later.
It is crucial to be well-prepared to minimise the risk of succession failure, poor decision making or lack of communication. This is not easy, but sharing lessons and experiences with your peers, and learning from family business experts, can help you navigate the challenges you have to face. IFB Next Generation forum provides a trusted environment in which to do this.
As a member of the IFB you are also automatically a member of the FBN International NxG group, which gives you access to a vast network of international family business owners, events and the International Internship Programme.
Next Generation Committee
IFB’s Next Generation Committee works hard behind the scenes to put together a programme of events for the year which all younger members of the IFB are invited to attend, including evening Speaker Clubs with successful and inspiring business people, and more intimate Meet the Owner breakfasts. In addition, they organise purely social activities which include sport, music, culture and the occasional party!