The Iowa Board of Regents has awarded center status to the University of Northern Iowa (UNI) Family Business Center (FBC). For nearly four years, the FBC has offered a suite of services  specialized to family-owned businesses in Iowa.

Family businesses are widely recognized as a powerful driver of economic growth, generating more than 64% of revenue in the U.S. and 78% of all new private sector jobs and often providing the economic engine for rural communities across Iowa.

“Family-owned businesses are essential to Iowa’s economy, and a lot of times they don’t know that they’re not the only businesses struggling with obstacles that are unique to family businesses,” said Dan Beenken, Director of the FBC. “We serve as the connector between families and the resources they need to be successful, and we are grateful that the Iowa Board of Regents has granted us center status so that we can continue this mission.”

In collaboration with the University of Iowa and Iowa State University, the FBC will now leverage its standing and maximize its economic impact across the state. Since the program launched in 2018, it has offered peer group services, family networking events, in-person and virtual expert panels designed specifically for family firms, and Iowa’s first Family Business Conference.

Research shows that only about 30% of family businesses survive to the second generation and only 12% are still viable to the third generation. In addition to succession planning, these organizations face unique challenges and opportunities like next generation development, governance and other issues impacting the longevity of the firm.

In the last year, the FBC has developed a Family Business Membership that unlocks the full suite of events and services for free or at a discounted rate, including its annual conference, a tour and panel at a family business, the bimonthly Virtual Breakfast Series, a directory, and online forums to interact with other family businesses.

Find more information about the FBC and explore membership options at unifamilybusinesscenter.com.

Contact Katie Kreis, Program Associate for Business and Community Services at the University of Northern Iowa, for more information at katie.kreis@uni.edu.