The Prairie Family Business Association (PFBA) will present its 18th annual Prairie Family Business Conference, "Together Everyone Achieves More (TEAM)" April 22-23 at the Hilton Garden Inn in Sioux Falls.
This year's conference will feature presentations from David Bork, one of the world's leaders in the field of counseling family business. Since 1970 he has had in-depth, long-term involvement with more than 400 families in business. Throughout the conference, Mr. Bork will assist families in charting their way through every imaginable family business issue. Mr. Bork has authored several books, including Family Business, Risky Business: How to Make it Work; Working With Family Business, A Guide for Professionals, and The Little Red Book of Family Business, which will be distributed to all conference attendees.
In addition, three families will be honored at the 2010 Award banquet on Thursday evening, April 22. The Prairie Family Business of the Year will be awarded to the Egger family of Egger Steel Company, Sioux Falls. Runner-up for the Family Business of the Year honor is the Korkow family of Korkow Rodeos in Pierre, while the coveted Heritage Award will be presented to the Lien family of Lien Transportation in Aberdeen.
Family business leaders along with succeeding generations and their advisers will also have an opportunity to choose from several educational sessions during the conference, including decision making in family businesses, spouses: in-laws and out-laws; family business valuation, roles and responsibilities, family meetings, siblings, and more. Statistics show that while the majority of businesses nationwide are family owned and operated, only 33 percent of these enterprises are succeeded to the second generation. Only 12 percent make it to the third generation.
"Understanding the family business system as well as the unique dynamics presented in this system is critical to beating these odds," said Beth Adamson, executive director of the Prairie Family Business Association. "The conference is recognized as the number one family business networking event in the region. Business-owning families have the opportunity to learn from top educators, but more importantly, they meet other business-owning families who are tackling some of the same issues, find new resources, and develop great friendships and business relationships as well."
For more about the 18th annual Prairie Family Business Conference, including an agenda and detailed session information, or to register please visit www.fambus.org. Participants can also register for the conference by calling the PFBA office at (605) 782-3225.
About the Prairie Family Business Association
The Prairie Family Business Association was founded in 1993 with a mission to build relationships that promote healthy families and successful businesses through education, research and peer interaction. It assists family firms in balancing the unique challenges of blending family and business. Together with its corporate sponsors, Avera Health, Bank West, Dacotah Bank, Eide Bailly LLP and USD, the PFBA offers an annual conference, the Legacies of Family Enterprise Series, family business award programs and a two day family business retreat. Books, video/audio tapes and articles are also available to check out from the PFBA resource library. More information is available on their website at www.usd.edu/fambus.