Preparing to Transfer Your Family Business

County Agent News

Dan Folske

December 5, 2011

Crop Outlook Meeting

            Don’t forget to attend one of the Crop Outlook meetings scheduled across the region this week. Thursday’s locations are the Dakota Theater in Crosby at 9:30 am and the Lignite Community Building in Lignite at 1:30 pm. Topics include the 2012 Crop Marketing Outlook, Winter Wheat Management, and The Next Farm Bill.

Free Webinar Dec. 8 on Preparing to Transfer Your Family Business

Released November 30, 2011

Business transitions are always difficult and especially so when the business is a family business. Beth Adamson will examine what you need to think about and how and when to communicate transition plans to family and employees. She’ll provide tips to help think about selling, closing or transferring a business. Adamson is director of Prairie Family Business Association, http://www.fambus.org/index.html, in South Dakota. She works with business owning families and professional advisors in the areas of family communication, business development and family ownership.

Preparing to Transfer Your Family Enterprise: How, Why, When and to Whom? is a free webinar from eXtension on Thursday, Dec. 8 at 2 p.m. Eastern Time (1 p.m. Central, 12 noon Mountain, 11 a.m. Pacific). The Web meeting room is at https://connect.extension.iastate.edu/etc-cop.

Webinar host

Entrepreneurs and Their Communities on eXtension has information for: (1) entrepreneurs and resource providers and (2) entrepreneur-ready communities. A team of Extension specialists and researchers working in land-grant universities across the country contribute the content.

Business transition articles on eXtension

Methods of Business Ownership Legal Transfer, http://www.extension.org/pages/19824/methods-of-business-ownership-legal-transfer

Meat Processor Succession Planning, http://www.extension.org/pages/19825/meat-processor-succession-planning

Exit strategies: Plan early for best outcome, http://www.extension.org/pages/11660/highlight:-exit-strategies:-plan-early-for-best-outcome

How can I transition out of my business?, http://www.extension.org/pages/36711/how-can-i-transition-out-of-my-business

What do I do with a business I no longer want?, http://www.extension.org/pages/37167/what-do-i-do-with-a-business-i-no-longer-want

eXtension webinars on entrepreneurs and their communities air monthly on the second Thursday. They are recorded and available for viewing about a week after the live sessions. More than 30 are available on demand at http://www.extension.org/pages/16076/etc-webinar-archive. A three-part series on tools for doing business on the internet begins with the January 12 webinar -- Maps, Apps & Mobile Media Marketing. Julie Fox, program director for direct marketing at Ohio State University will introduce opportunities for entrepreneurs to use mobile media marketing to improve visibility, connectivity, customer relationships and the bottom line.