A Family Business Constitution (FBC) is a document that helps to manage the relationship between a family and its business. The FBC template provided here was developed jointly by experts from Strathmore University Business School (SBS) and Strathmore Dispute Resolution Centre (SDRC), a research center of Strathmore University Law School.
Family businesses get the FBC template for free and customize it to their own business with or without the help of experts from SDRC. Businesses that decide to customize the FBC template on their own are however requested to inform SDRC about that decision via email. This allows SDRC to inform those businesses of any subsequent updates to the FBC template and any FBC-related events among other services offered by SDRC including resolving disputes through mediations.
To get a copy of the FBC template do fill in your details in the link below. These details will be shared with SDRC.
Family businesses usually start out as simple organizations. But as they develop and grow they face greater complexities and challenges, often leading to tensions among the owning family over how they run the firm together. A common solution is a constitution outlining the values, principles and procedures that the family agrees to follow.
They are important as they help in managing expectations, avoiding misunderstandings, specifying roles and responsibilities, fostering greater harmony, and ultimately making better decisions. If done well and followed, they offer a strong foundation for a sustainable future.
Entrepreneurs, Family business owners and Strathmore University Alumni.
Family Business Constitution (FBC) Template Download Form
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For more information on:
- SBS activities including entrepreneurship programs: Eunice on firstname.lastname@example.org or email@example.com
- SDRC activities including the Family Business Constitution: Ivy on firstname.lastname@example.org or email@example.com