The FBI was founded in 1916 on the initiative of the Midlands industrialist, Dudley Docker. He obtained pledges of 1,000 from each of 124 firms to launch a new representative organisation for industry. The Federation shied away from involvement in such basic issues as labour relations and (at first) tariff reform, but overall it did prove a success. It absorbed other smaller organisations which strengthened its regional and overseas work, and in 1923 was incorporated by Royal Charter. It was easily the biggest of the CBI's predecessors, having a membership of over 9,000 individual firms and 272 trade associations by 1964. It merged with the British Employers' Confederation and the National Association of British Manufacturers to form the Confederation of British Industry in 1965.
Reference: Alan Crookham, Michael Wilcox, Christine Woodland and Richard Storey, The Confederation of British Industry and predecessor archives.Coventry : University of Warwick Library, 1997.
From the guide to the Papers of the Federation of British Industries, 1916-1965, (Modern Records Centre, University of Warwick Library)