A firm is a family enterprise if:
- The majority of decision making rights are the possession of the natural person(s) who established the firm, or 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, parent, child or children’s direct heirs.
- The majority of decision-making rights are indirect or direct.
- At least one representative of the family or kin is formally involved in the governance of the firm.
- Listed companies meet the definition of family enterprise if the person who established or acquired the firm (share capital) or their families or descendants possess 25 per cent of the decision-making rights mandated by their share capital.
We welcome member families to our network who share all the following characteristics:
- As a family, you own, manage or are involved since a minimum of 15 years in a business that you plan to keep within the family.
- Your family has a controlling ownership interest in the business.
- Your business provides products and services that are distinctive and respected in their industry.
- Your family and the business are committed to good corporate citizenship and making a strong contribution to the communities where you operate.
- Your family recognizes that FBN’s activities are for direct members of your family.
For more information about becoming a member of FBN, please click here.
“Through FBN I have found people like me (2nd generation), with whom I can discuss my family’s internal business. This is something I find VERY helpful. I believe that only our peers can really understand our situation and contribute good suggestions to what to do.”