Board Development
Resources and tools to help in the creation, development and growth of a family fiduciary or advisory board for family-owned business
A board serves as a guiding body that offers impartial expertise, encourages transparent decision-making, and helps navigate complex family dynamics.
Prairie Family Business Association supports and encourages a board, either fiduciary or advisory, for several key reasons.
five reasons to consider
A Family Business Board
By incorporating a board, your family business can enhance governance, improve strategic alignment, and increase the likelihood of transitioning to the next generational successfully.
A board provides unbiased and outside perspectives, helping to challenge assumptions and refine strategies, which is crucial for effective decision-making.
Presenting to a board fosters a level of accountability, encouraging business leaders to think critically about their strategies and performance.
An objective board can facilitate smoother transitions by providing fair evaluation processes for future leaders, reducing familial biases.
Board members often bring diverse experience and knowledge, offering insights that can enhance strategic planning and operational effectiveness.
Having an independent board can help mediate family dynamics, ensuring that family issues do not interfere with business operations.
Are you interested in serving on a family business advisory or fiduciary board?
Let us know! Our team will follow up to get your full board profile.
Access the Board Directory. PFBA Membership required.
"A board brings calmness to the boardroom in a family business."
Whether you've never thought of having a formal board, are in the early stages, or have had a developed board for years – PFBA's board development programs can provide actionable steps to start or improve your family business board.
Watch the video to see a recap of past events.
