Family Business Preservation Program

The Family Business Preservation Program (FBPP) is designed to support locally-owned businesses in strengthening their operations, mitigating involuntary displacement, and increasing multigenerational business ownership to build community wealth.

The FBPP aims to help local economic resilience and community cohesion by strengthening 20 neighborhood microbusinesses and support with succession planning through culturally responsive business support and connection to resources.

Overview

The Family Business Preservation Program (FBPP) has been developed based on feedback from Denver small business owners in an effort to most efficiently address their needs, to best help stabilize locally-owned businesses, and move towards economic security. 

This program will provide business owners and their next of kin guidance on how the business can thrive across multiple generations of entrepreneurs while keeping the legacy of the business alive. The FBPP will also provide direction on how to develop a plan to transfer ownership of the business to a next of kin, employees, or to a community member(s) to keep your business alive and thriving. 

Small business owners interested in participating in the program will fill out an application and, if accepted, they will go through a series of sessions where they will have access to:

  • Business tools
  • Back office support
  • A business succession plan
  • Opportunities for business mentorship and coaching (if desired) and,
  • A community supported by other business owners. 

The FBPP is funded by the Equitable Economic Mobility Initiative Grant from the National League of Cities, and it is implemented by Denver Economic Development & Opportunity (DEDO) in partnership with the Center for Community Wealth Building (CCWB). 

Eligibility & Priorities

This program is geared to business owners. Suitable business applicants must fulfill the following requirements: 

  • Be a locally-owned business 
  • Operate within the City and County of Denver. Priority will be given to businesses located in neighborhoods were businesses are displacement-vulnerable as identified by DEDO's Neighborhood Equity & Stabilization (NEST) division: Elyria- Swansea, Globeville, NE Parkhill, East Colfax, Montbello, Sun Valley, Valverde, Villa Park, West Colfax, Westwood. 
  • Have an annual revenue of $500,000 or less. Priority will be given to businesses in the lower revenue bracket
  • Be committed to the program 
  • Be interested in preserving the legacy of the business. Priority will be given to business owners ready to retire in the next five to ten years. 
  • Have family members or employees (at least 16 years old) interested in learning more about business operations. Priority will be given to business owners who have family members interested in learning about the business. 

 

Application

Applications to participate in this program in 2022 have closed.