Family Business

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Support for your Family Business

We are dedicated to supporting family businesses on Vancouver Island.

We focus on providing timely educational events and advisory teams (peer to peer) to help contribute to the success of family businesses and we welcome members of all sizes and industry types. We also provide access to Advisor members who support family businesses in any number of ways. In order to successfully deliver programs that matter The Chamber developed a Family Business Committee in 2023, after the island’s Family Business Association asked to merge with The Chamber.

Family Business Committee

The Chamber is guided in our efforts by the Family Business Committee. This committee of volunteers is a multi-generational committee of individuals who understand the unique needs and experience of working in family business.

The committee is represented on The Chamber’s Board of Directors by Dean Clark.

FBC Mission: To promote the sustainability and growth of Vancouver Island business families by providing education and support through community and shared experience.

FBC Vision: We are an engaged and supportive community of vibrant Vancouver Island business families and advisors who connect, share ideas and learn from each others’ unique experiences.

To connect with The Chamber’s Family Business Committee staff liaison please email Julia Banks.

Committee Purpose

The promotion of the well-being and understanding of family enterprise through idea exchange, education, experiences, and practices pertaining to the issues of family-owned businesses.
The taking of appropriate actions and initiatives to bring about these purposes.
The education, provision of information, and encouragement of its members in areas of unique interest to the family-owned business through publications and the identification of resources such as books, videos, information and related professionals to members.
The fostering of greater awareness and understanding by governments of family enterprise and of the function of family enterprise in the present and future economic community of Canada.
The provision of a nucleus for meaningful exchange of ideas and help between individuals involved in family enterprise at all generational levels; and
The building of a network of acquaintances and information-sharing among participants in family-owned businesses throughout the region.

One of the most popular ongoing programs for family businesses is a peer to peer advisory group. Someone who can understands the joys as well as the challenges of a family business and can provide a fresh perspective. Unlike other peer advisory programs that are several thousand dollars a year, The Chamber is committed to providing the Family Business Advisory Team (FBAT) program for under a thousand dollars a year in order to put it within reach of all family businesses.

What is a Family Business Advisory Team?

One of the most common challenges family business members face is isolation — it is often difficult to discuss issues with other family members, and those outside the family business often don’t understand the unique dynamics of family enterprise. Family Business Advisory Teams (FBATs) meet the challenge head on by providing an unparalleled opportunity to discuss succession, business leadership, strategy, and family issues with other members of family businesses.

FBATs are one of FBC’s most cherished benefits, offering an experience that is uniquely beneficial to those working in and around family businesses. Many of these groups have been thriving for 10-15 years or more.

Why Join an FBAT

Family Business Advisory teams can serve as your own mini board of directors, supporting you in your challenges and opportunities as a family business. Members leverage the perspectives of other family businesses, industries and generations.

We encourage all family business members to join a Family Business Advisory Team. This is a unique opportunity to learn from each other, to work on your family business in a special way, and to have the security of confidential discussions in a trusting and inviting environment.

Topics like working with family, managing business and succession are among the areas discussed.

FBAT Objectives

FBATs are about peer mentorship. Meetings are strictly confidential, providing an environment of trust where individuals can discuss issues that are highly personal and/or confidential in nature.

This is not a networking group, and is not intended to provide leads or business referrals. Instead, they provide feedback and ongoing support for both personal and business issues. New members must be prepared for this primary benefit by being open and willing to share lessons learned, provide support to others and grow both personally and professionally.

Structure and Commitment

The FBAT is a group of 8-10 individuals who agree to meet on a monthly basis to share personal and business ideas and to help each other. Each FBAT is composed of a diverse group of family business members from non-competing businesses, representing different ages, genders, and generations in the business. FBATs can include a maximum of one FBC Advisor member, meaning most of the group are Family members.

Each group hosts structured three-hour monthly meetings where commitment is paramount to group success.

Each group names a moderator from their membership and other tasks of the group are decided upon as needed. The members collaborate on what will work best for them in terms of meeting flow, content, presentations and group dynamics. Most importantly, they have the opportunity to bring their challenges to the table. Insight is gained by hearing from others who have had similar experiences.

One annual weekend retreat provides the opportunity for personal and professional development with team building. As a group, the members decide on the best ways for them to address their individual and mutual goals.

Guiding Principles

To develop and maintain a successful FBC Team, it is essential that the guiding principles of Confidentiality and Commitment are followed.

Confidentiality is the most basic and important aspect of the FBAT’s success. Everything that is said in the room stays in the room. No “pillow talk” with spouses or significant others. No insider trading. No meetings-after-the-meetings. Confidentiality is forever, even after members depart the group.

Commitment is also essential to prevent a revolving door of members and to build relationships and trust.

Committing to a FBAT means:

Attending a minimum of eight meetings per year (most groups meet monthly except in July and August) and understanding this is meant to be a long-term commitment.
Being on time for every meeting, which usually lasts three hours.
Participating fully in each meeting by putting away phones and joining each activity (self-discovery questions, sharing, updates, and giving one presentation per year).
Attending annual retreats, which ordinarily take place over a weekend and often involve travel. Retreats are a key activity which develops cohesiveness, provides opportunities for growth and fun, and ensures ongoing trust and continuity.
Sharing responsibility for the success of the team, by sticking to the guiding principles, following an agenda and ground rules, and rotating roles each year (moderator, timekeeper, treasurer).

If you are ready to join a FBAT, please advise your Chamber Liasion. Your name will be added to the waiting list and the FBAT Committee will select an appropriate team for you to join based on a number of factors. New members are not accepted into existing teams without agreement from all members of the group.

In some cases, a new team will be formed from among the members of the waiting list. In these cases, the new FBAT will be supported by an FBAT Mentor for at least three meetings.

Chamber Member Family Businesses