What does Family Owned Business Institute do?

The Institute for Family-Owned Business (IFOB) is a nonprofit organization based in Maine, dedicated to supporting family-owned businesses, which make up about 80% of the state's economy. Founded over 27 years ago, IFOB provides resources to help these businesses navigate unique challenges, such as succession planning, through education, networking, and consulting. IFOB offers a variety of programs, including over 50 annual educational events like seminars and workshops on topics such as leadership development and conflict resolution. It also facilitates networking opportunities through affinity and peer groups, and hosts the annual Maine Family Business Awards to recognize excellence among local family businesses. While IFOB does not sell traditional products, it enhances the member experience with access to expert sessions and valuable resources. The organization emphasizes collaboration and shared expertise to meet the evolving needs of its members.