MBA in Family Business – Facts You Should Know

MBA in Family Business

Family owned businesses are playing an important role in shaping up the economies of several nations throughout the world. In fact, it’s a global trend that has been seen over the years. As per an Ernst & Young India report, such businesses contribute as much as 70% to 90% of the GDP globally, with more than 85% of the GDP contribution coming from such entities in India. In addition, 67% of all the listed companies in India that have a market capitalisation of more than US$ 50 million are actually family businesses. We are referring to big business conglomerates such as Godrej, Reliance etc. as well as various retail trade, service sector operations, small scale industries run by family businesses.

Considering how the economies and business environments are changing so rapidly all over the world, it is important for the next generation family business owners to develop the ability to tackle such volatility and uncertainty in the most effective manner. It is keeping all such family businesses in mind that many top-rated business schools in India now offer MBA in Family Business, specially designed to cater to the learning requirements of the new-age family business owners.

Normally branded as Entrepreneurship & Family Business Programs or MBA in Family Business, these courses are offered by some of the top-level MBA institutes like IIM Bangalore, EDII, SPJIMR, Nirma University, NMIMS and others. In essence, an MBA in Family Business equips the new generation with the required knowledge and skills to further strengthen their inherited business ventures and to take them into different directions by exhibiting their entrepreneurship abilities and innovative ideas.

MBA in Family Business – Who all should enroll?

MBA in Family Business is a program that is targeted at:

  • The next generation of family business owners
  • Aspiring entrepreneurs
  • Start-up founders

MBA in Family Business – Eligibility Criteria

The eligibility criteria for the MBA in Family Business varies from institute to institute, however, the basic requirement for the program is graduation. While some institutes might prefer candidates with at least 4 to 5 years of professional experience under their belts, others can relax this criteria for candidates who come from already established businesses.

MBA in Family Business – Fee

The total fee charged for MBA in Family Business program can range from ₹ 5 lakh to ₹ 15 lakh in India, with ISB Hyderabad being an exception that charges a whopping ₹ 37.35 lakh for the course.

Admission Deadlines

The application deadlines for the MBA in Family Business course have already passed for the SIBM Pune and ISB Hyderabad. However, NMIMS Mumbai and IIM Bangalore will continue accepting applications till around the 3rd week of May. Other than that, admissions are still open for other business schools like Entrepreneurship Development Institute of India (Ahmedabad), SP Jain School of Global Management and SPJIMR Mumbai.

Business schools offering MBA in Family Business

Name of the B-School

Duration of the Course

Name of the Course

Total fee for the Course

Indian School of Business, Hyderabad

15 months

Post Graduate Programme in Management for Family Business (PGP MFAB)

₹ 37.35 lakh

SPJIMR Mumbai

24 months

Post Graduate Programme in Family Managed Business (PGP-FMB)

₹ 11.05 lakh

SIBM Pune

24 months

MBA (Innovation & Entrepreneurship)

₹ 13.20 lakh

IIM Bangalore

10 months

Management Programme for Entrepreneurs and Family Businesses (MPEFB)

₹ 5.53 lakh

School of Business Management, NMIMS Mumbai

24 months

MBA – Entrepreneurship & Family Business

₹ 9.06 lakh (approx.)

Entrepreneurship Development Institute of India, Ahmedabad

24 months

Post Graduate Diploma in Management - Business Entrepreneurship

(PGDM-BE)

₹ 5.33 lakh

Prin L.N Welingkar Institute Of Management Development & Research, Mumbai

11 months

PGDM – Family Managed Business( PGDM – FMB)

₹ 7 lakh

Institute of Management, NIRMA University, Ahmedabad

24 months

MBA (Family Business & Entrepreneurship)

₹ 3.81 lakh

SP Jain School of Global Management

12 months

Global Family Managed Business (Global FMB)

₹ 9.61 lakh

Amity Business School Mumbai , Amity University Maharashtra

24 months

MBA in Family Business

₹ 7.44 lakh

Stay informed, Stay ahead and stay inspired with MBA Rendezvous