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« FEC Home « About the FEC « Students « Parents & Family « Alumni « Professionals « News & Media « FAQs « Related Links « FEC Site Map « School of Business « Stetson University  Frequently Asked Questions   What is a Family Enterprise? The broadest definition of a family business is when two or more family members exercise substantial control or ownership in a business. A family enterprise can encompass the various stages of business development from the startup business to the family office. Many family businesses are defined by the need to think and plan beyond the current generation. In fact, it is so pervasive, that a campus survey revealed that 40% of Stetson’s Business School students are from families involved in family business. Why have a Family Enterprise Center? The nation's demand 90% of US businesses are family enterprises. Over half of the nation's GNP is produced by family enterprises Almost ALL of the new jobs created are from family enterprises B. Stetson's Demand 33% of the students are from families that own a business. Over 40% of students in the business school have a FE. Over 40% of the business school students with FE said they would like to take classes on family enterprise. What is Stetson's Family Enterprise Center? The Family Enterprise Center is an innovative, interdisciplinary academic resource available to those students and professionals who work with family enterprises. The FEC is comprised of two programs: the undergraduate curriculum, which consists of a series of courses offered to students at Stetson University, and the outreach program, which is designed for professionals who work with family businesses. What makes the Family Enterprise Center interdisciplinary? The Center is based in the School of Business Administration, but its approach is multi-disciplinary, incorporating people and resources from the entire Stetson Community. According to the Family Firm Institute, the academic field of family business consists of four main disciplines: behavioral science, financial systems, law, and management science. Stetson’s Major and Minor are comprehensive learning opportunities for students considering involvement in their family enterprise. The curriculum includes studies in business, finance, management, law, sociology, and psychology. The Dual Major or Minor will compliment any major a student might choose. How important are family enterprises? Many experts acknowledge family enterprises as the prime force behind the U.S. economy’s unparalleled growth since the early 1980’s. In fact, 33% of the Fortune 500 companies are family enterprises. In addition, one-half of all employees in the United States work for a family enterprise. Given its scope and importance, we believe far more needs to be done to serve and support family enterprises. This is one of the primary goals of the Center. Will the Family Business minor help me explore issues and help me assess my role in my family's enterprise? Yes. The Minor’s five undergraduate courses, including an internship, enable our students to assess their interests and begin preparation for involvement in family enterprise. The five-course Minor complements any major a student might select. Examples of students who will benefit from the Minor include an English major who will be a partial owner of a family’s enterprise, a General Business major who hopes to someday lead his/her family’s enterprise, or a Music major who is considering becoming an employee with his/her family’s enterprise. What is beneficial about a Family Business dual-major? A dual-major in Family Business and a second field of business will make students more credible and marketable. Our students have been pursued by companies such as SunTrust's Asset Management Advisors (now known as GenSpring Family Offices) and Northern Trust. A student can earn the Family Business dual-major with only 18 additional credit hours. With little planning, many of our students enrolled with a dual-major are able to complete this program in only four years or eight semesters. Stetson University Family Enterprise Center | Unit 8398 421 North Woodland Boulevard DeLand, Florida 32723 Email Address : family@stetson.edu Phone Number : 386.822.8994 Fax Number : 386.822.7426