A family business retreat is one of the most important strategies used to help strengthen the communication system in a family-owned business.
MOORHEAD, Minn. -- The Prairie Family Business Association recently hosted its annual North Dakota Family Business Forum at Concordia College in Moorhead, Minnesota, which was attended by 95 family business leaders and family business advisors. The presentations: Featured keynote speaker Phil Clemens presented the seven destructive traps of family business and described steps to avoid [...]
Learn about what features and benefits Prairie Family Business Association has to offer its members - from the Annual Conference is the #1 networking event in the region with national and local speakers, consultants, and valuable information - to monthly webinars, networking, and more!
By: Carolyn A. Thompson, Founder Thompson Law, PC, Sioux Falls, SD Every prudent business family should schedule a consultation with a good business succession lawyer so that they can begin discussions on how to keep their family a family and their business a business. Waiting until they "have time," or "have it all figured out," [...]
Stephanie Larscheid This week’s Monday Q&A features Stephanie Larscheid, executive director of the Prairie Family Business Association. Question: Tell us a little about yourself. Answer: I grew up on our family’s farm outside of Algona, Iowa, where my dad is a third-generation family farmer. My undergraduate degree is from Iowa State University, and [...]
A question from conference keynote Jolene Brown's presentation: How can the family business owners be "the bank" for a buyout? What are the tax benefits? A: The primary tax benefit for serving as “the bank” is the ability to defer capital gains tax over the period in which installment payments are received. Generally when considering [...]
In a recent TODAY’s Sunday’s with Harry, NBC’s Harry Smith has an insiders look at a movie snack staple, Jolly Time popcorn. See a tour of the company's headquarters in Sioux City, Iowa, and learn more about this independent, family-owned company.
The first Craig Lloyd development was built with scrap lumber more than 60 years ago in the dirt of western North Dakota. The contractor was 4 or 5 years old. “We’d go around to wherever we could find used lumber, and we’d build huts,” said Lloyd, whose family was in the lumber business. His grandfather [...]
The Prairie Family Business Association that helps family businesses succeed in South Dakota, North Dakota, Nebraska and Minnesota a has hired a new executive director. “Stephanie Larscheid brings significant talent, experience and energy to the organization,” said Venky Venkatalachlam, dean of the University of South Dakota Beacom School of Business. “She has excellent strategic perspective [...]