Business schools offering MBA in Family Business, Fees, Eligibility Criteria

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 3^rd 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.