UNI NEWS SERVICES – The University of Northern Iowa’s 2020 Family Business Breakfast Series continues in the Des Moines area on March 27, with Bob Vermeer and Mary Andringa from Vermeer Corp. and Jim Mudd, Jr. from Mudd Advertising joining the UNI family business staff for “Succession Planning Today, Tomorrow, and Beyond”.
The forum will take place on March 27 at 8:00 a.m. at the Hilton Garden Inn in Johnston, Iowa. For more information, and to register, visit https://advanceiowa.com/breakfast-series.
The panelists will discuss succession between a parent and child, succession between siblings and all elements that need to be part of the family discussion that will impact today, tomorrow and the future of family businesses.
Succession can be painful and represents the most critical time for family businesses. Andringa said her company started transition planning in 1989, when they decided to work with a family consultant group to guide them in policy development designed to make positive family transitions.
“At Vermeer, we have been very intentional about effective family transitions,” Andringa said. “Many family businesses state that they want the business to stay in the family, but fewer people really plan ahead. The statistics say that only 30% of family businesses get to the second generation, 12% to the third and 4% to the fourth.”
About UNI Family Business Forum
Our mantra, "family businesses are different," is not just a catchy phrase. We believe family businesses are different, and face unique challenges and opportunities. We are a community of business-owning families dedicated to learning and sharing knowledge to sustain and successful Iowa family businesses. We are located within University of Northern Iowa’s Advance Iowa. For more information, visit advanceiowa.com.