CEDAR FALLS, Iowa – In the Midwest, entire communities may rely on the survival of one or two businesses for employment. However, less than a third of family-owned businesses make it to the second generation of family leadership. When a family decides to sell,  new owners may move the business out of its community or dismantle it for parts. 

With that in mind, the University of Northern Iowa Family Business Center invites leaders of multigenerational family-owned businesses to register for “The Nelson Family Legacy: Planning for Seven Generations of Leadership at Kemin Industries.” The Nelson family will share their succession plan which spans seven generations, ensuring a stronghold of employment, innovation and economic power in Des Moines for another 100 years.

The virtual panel discussion will be held via Zoom on Thursday, Jan. 23, 2025, at 8 a.m. Central Standard Time.

“Succession planning is the bridge between a family's legacy and the future, ensuring that the business continues to thrive through generations,” said Dan Beenken, director of the UNI Family Business Center. “Without a clear plan, even the strongest family businesses risk losing direction, leaving future generations without the foundation needed to build upon. That foundation is built on communication. As the saying goes, your body won't go where your mind hasn't taken it. This session provides the opportunity for our families to see how others are planning and put that into practice for their own.

This session is the third of five 2024-25 Family Business Center Virtual Breakfast Series sessions focused on family business-related topics. The series is free for all members of the Family Business Center. Non-members who are part of a multigenerational family business are welcome and can visit the Family Business Center website to register their business for a free trial.

The Family Business Center knows that family businesses face unique challenges during their start-up and throughout the life of the business. These families will learn about business governance, continuity, strategic planning, leadership transition and growth. Learn more about the center and upcoming events at unifamilybusinesscenter.com.