UM-Flint to provide new services to family owned businesses

The School of Management (SOM) at the University of Michigan-Flint will soon offer a unique service to an important segment of the state's business community. Family-owned businesses are often referred to as the "backbone of the American economy." While there is wide array of services and learning opportunities available for business, very little is aimed at the important family-owned segment. To fill the service and information gap, SOM will open a new center with services in Troy.

"The Michigan Family Business Center will offer a variety of programs, classes, seminars and resources all aimed at family businesses," said director Francine Cullari. "About 40 percent of the Fortune 500 companies are family businesses."

The Center has joined five local chambers of commerce to network and help identify their members that are family-owned businesses. The Michigan Family Business Center is located at the School of Management in the William S. White Building on the Flint campus. The Center will hold an opening ceremony on Sept. 17 at the White Building atrium. An Oct. 8 breakfast meeting and seminar will be held at the Hilton Detroit/Troy on Crooks Road in Troy. The seminar will focus on an important family business topic: succession planning. Included will be a panel of older-generation family members who will share their experiences of transitioning a business to younger family members. A Nov. 12 meeting is planned at the Hilton, and will give the younger generation's view of transferring control of a family business to the next generation.

The Family Business Center has an annual membership fee of $400 a year; however, the first two seminars are complimentary to family-business owners. For information on the center, call (810) 762- 0001 or e-mail [email protected].