Welcome to the FOB FORUM

The concept of Family-Owned Businesses has evolved over a long time. Generally accepted as a legal entity operating in an economic sector and outliving at least two generations. Family-Owned Businesses have flourished in many developed and developing economies of the world. In places such as the United States of America, Italy and India, these businesses have played significant role in the socio-economic development of these countries. From current trends, they remain largely relevant for the future.

The FOB FORUM NIGERIA (FOBNG) was conceived in 2012 by a group of think tanks who studied the trends of businesses in Africa/Nigeria and discovered the lack of continuity in most family businesses. One of the problems bedeviling the continuity and sustainability of the businesses is poor or lack of inter- generational succession planning.

Most family-controlled businesses in Nigeria suffer premature death no sooner than the original owner/founder dies. Lack of succession plans or inadequate succession plans is a major sustainability challenge of family controlled businesses in Nigeria. No wonder it is difficult to find indigenous companies that have existed for 100 years and above in Nigeria.

FOBNG is to transfer to the associates awareness of the fact that an ethical style of “doing business” creates a solid and sound foundation for long term and healthy business growth. This means the strengthening of the conviction of entrepreneurs that the enterprises, in order to reach successful milestones, will benefit through characterizing themselves, as with a distinguishing mark, for the attention they will know how to give to the human side of work and for the capacity of being able to adopt an effective structure of governance because it is rigorous, confident and merit-based.

Goal

The goal of FOBNG is to transfer to the associates awareness of the fact that an ethical style of “doing business” creates a solid and sound foundation for long term and healthy business growth. This means the strengthening of the conviction of entrepreneurs that the enterprises, in order to reach successful milestones, will benefit through characterizing themselves, as with a distinguishing mark, for the attention they will know how to give to the human side of work and for the capacity of being able to adopt an effective structure of governance because it is rigorous, confident and merit-based.

Aims and Objectives

1. To explore themes that are founded on ethical entrepreneurial values which are focused on developing the personal and professional growth of new generations.
2. To formulate effective legal frameworks that will address conflicts and identify specific challenges associated with family-owned businesses in Nigeria.
3. To equip regular employees with key facts on starting, developing, and running a family business, generationally.
4. To develop strategies that can help existing businesses to restructure their firms into a family business.
5. To assist existing indigenous family business owners to develop a sustainable management framework, culture and skills that will help grow and keep their businesses generationally by benchmarking with selected and well known international players in the family business ownership.

 
Benefits of Membership

1. Utilizing all the templates of the FORUM that will guide the Generation Next to warm up to, and accept to sustain their Family-Owned Businesses for future generations.
2. Exposing members through our executive education and seminars to refreshing and updated managerial skills for sustainable entrepreneurship within the family circle and its impartation to the next generation.
3. To equip regular employees with key facts on starting, developing, and running a family business generationally.
4. Participating in the Family Business Internships platform for The Next Gen Group: The Next Gen Group is the network of young people from associate business families where they leverage on knowledge sharing among other leading family owned businesses.
5. Utilizing the platform that will enable Nigerian family business owners to participate in the Family Business Network Exchange: FBN Xchange is a secure, international, on-line community where family businesses across the world come together to connect, exchange and learn.
6. Helping family business owners network at International Summits organized by Family Offices in various countries
7. The forum also helps start ups in promotional activities, helping them build sustainable business strategy and structure.
8. Mentorship programs from our local and international partners are accessible to participants
9. Exhibitions and other promotional activities for business owners, SMEs and Large Scale firms during our international conferences and seminar series.
10. Audit services and Arbitration services are available for family business owners.

 
Activities

• National and International Congresses
• Training and Accountability (Executive Education programmes with Rome Business School Nigeria and Centre for Values in Leadership)
• Institutional Projects on succession planning
• Next Generation development programs
• Trade Promotions for family businesses
• Family offices Xchange programs and Family Visits
• FOB seminar series for students and SMEs
• International Networking
• Institutional Relations
• The Next Gen Group

To create a Family Business Internships platform for  The Next Gen Group:  The Next Gen Group is the network of young people from associate business families where they leverage on knowledge sharing among other leading family owned businesses.

 The objectives of  The Next Gen Group are:

1. to raise awareness of the opportunities that family businesses can offer both to young people wishing to work in them and to those just intending to be shareholders,
2. help family business founders or CEOs transfer the family values on which the business is established by the founder,
3. create opportunity where young people from associate companies can participate in an internship programme where they undergo mentorship in another associate company (foreign or local),
4. help founders and CEOs of associate companies prepare their younger ones for a successful succession in their business.
5. The young people of FOBNG associate companies can take part in specific activities created for them by the Family Offices Networks.