MBA in Family Business

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Family-owned businesses play a crucial role in the economy of a country. According to EY India, It is estimated that globally family businesses contribute around 70%–90% of the global GDP. India is no exception.Family-run businesses account for more than 85% of businesses in India. Additionally, 67% of total listed companies with market capitalization exceeding more than US$50 million each accounts for family businesses in India. Apart from conglomerates like Reliance and Godrej, a lot of retail trade, small scale industry, and service sector are run by family businesses. 

 

In the rapidly altering business environments and economies the next generation of business owners want to tackle the uncertainty and volatility of business world effectively. To cater to the needs of this group, many top B-schools offer MBA -Family Business and Entrepreneurship Programwhich is a specifically designed to help meet the needs of next generation of family business owners.

 

MBA Family Business programme  or  Entrepreneurship & Family Business Programmes are offered by  many colleges.  Some of the top MBA colleges offering  Family Business Management Courses In India  are IIM Bangalore, NMIMS Mumbai, S P Jain, Nirma University, EDII among others.  MBA Family Business and Entrepreneurship Program  offers the opportunity to the students to further expand and strengthen their family business and also to venture into entrepreneurship with innovative ideas after getting proper grooming and skills on completion of their MBA Family Business and Entrepreneurship Program.

 

Top MBA Colleges in India offering MBA in Family Business and Entrepreneurship
Following are the best MBA in Family Business and Entrepreneurship Programs offered by well-known MBA Colleges in India:

Name of the Institute
Course
Duration
Fee
Indian School of Business
Post Graduate Programme in Management for Family Business (PGP MFAB)
15 Months
Rs. 37,35,000
IIM Bangalore
Management Programme for Entrepreneurs and Family Businesses (MPEFB)
10 Months
Rs. 5,53,000
SPJIMR, Mumbai
Post Graduate Programme in Family Managed Business (PGP-FMB)
24 Months
Rs.11,05,000
School of Business Management,
NMIMS Mumbai
MBA- Entrepreneurship & Family Business
24 Months
Rs. 9,06,000 (Under revision)
SIBM Pune
MBA (Innovation & Entrepreneurship)
24 Months
Rs.13,20,000
Prin L.N Welingkar Institute Of Management Development & Research, Mumbai
PGDM – Family Managed Business( PGDM – FMB)
11 Months
Rs. 7,00,000
SP Jain School of Global Management
Global Family Managed Business (Global FMB)
12 Months
Rs. 9,61,000
Entrepreneurship Development Institute of India, Ahmedabad 
 
Post Graduate Diploma in Management - Business Entrepreneurship 
(PGDM-BE)
24 Months
Rs. 5,33,400
 
Institute of Management, NIRMA University, Ahmedabad
MBA (Family Business & Entrepreneurship)
 
24 Months
Rs.3,81,000
Amity Business School Mumbai , Amity University Maharashtra
MBA - Family Business
24 Months
Rs. 7,44,000

Who should attend?
MBA in Family Business and Entrepreneurshipis a specific program designed for:

  • Next generation family business owners/successors
  • Startup founders
  • Aspiring Entrepreneurs

Eligibility for MBA in Family Business and Entrepreneurship

The eligibility criteria for MBA in family BusinessManagement and Entrepreneurship vary according to different colleges.

  • The general requirements for this course includegraduation.
  • Some colleges may require prior professional experience; some colleges relax the experiencecriteriafor business owners.
  • However, a professional experience of 4-5 years adds a lot of value to the application.

Fee for MBA in Family Business and Entrepreneurship
The fee for MBA in Family Business in general ranges from 5 lakhs to 15 lakhs, ISB being an exception with Rs 37.35 lakhs as its fee.

Admission Deadlines for MBA in Family Business and Entrepreneurship
The application dates for MBA -Family Business and Entrepreneurship for ISB and SIBM have been closed. For IIM Bangalore and NMIMS Mumbai the applications are open till the third week of May. For other institutes such as SPJIMR Mumbai, SP Jain School of Global Management, Entrepreneurship Development Institute of India, Ahmedabad the admissions are still open.