Mequon-based Family Business Legacy Institute and Milwaukee-based BizStarts this week announced a new partnership between the organizations.
Under the partnership, the FBLI will provide programming to companies that were launched with the assistance of BizStarts and need additional help to grow to the next level.
“We work with startups, but once they are scaling, we are happy to hand them off to others,” said Dan Steininger, founder of BizStarts. “An organization like (FBLI) could be a perfect fit.”
The two organizations will share access to some events, and FBLI will offer current BizStarts companies a group reduction in dues. Both organizations will cross-promote each other.
BizStarts works with about 320 startup companies and assists them with managerial expertise and financing.
FBLI offers formal educational programming in family business, leading to a minor or certificate. The organization also offers informal educational information to business owners and their families.
“The partnership (between the FBLI and BizStarts) will help businesses make a seamless transition from startup to the growth phase,” said Dr. David Borst, executive director and chief operating officer of FBLI.
West Bend-based Spaulding Clinical Research LLC is a family-owned business that went through the BizStarts program and is now being assisted by FBLI. More businesses could follow that same path under the new partnership between the organizations.
“The partnering of BizStarts with FBLI is exciting news that will benefit both organizations,” said Randy Spaulding, CEO of Spaulding Clinical. “BizStarts helped us get off the ground. FBLI is helping us sustain it by bringing to the forefront the tough issues family businesses cannot ignore.”