Family Businesses are the backbone of our state, regional, and national economy. The Prairie Family Business Association provides quality educational resources and networking opportunities which assist business-owning families and their advisers in understanding the unique issues that are part of the family business system.
Throughout the Midwest, family firms comprise almost 90% of all business enterprises. More than 30% of all family-owned businesses survive into the second generation. Twelve percent will still be viable into the third generation, with 3% of all family businesses operating at the fourth-generation level and beyond.
Families involved with the PFBA are striving to implement best practices and educational tools to assure their families continue to nurture their family values and relationships, develop profitable companies, and create competent and committed shareholders for generations to come.