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Prairie Family Business Association

Name: Prairie Family Business Association
Address: Sioux Falls, SD, US
Telephone: +16052749530

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Prairie Family Business Association

We are the premier resource for helping family businesses thrive for generations. Visit fambus.org

Prairie Family Business Association is the premier network of resources to help family businesses thrive for generations. We provide family businesses with the tools to grow, engage, transition, and prosper through high-quality education, networking, and collaboration. Founded in 1992 as an outreach center to the University of South Dakota Beacom School of Business Professionals, the Prairie Famil

y Business Association helps family businesses throughout the United States navigate the complexities of being in business together. Our membership offers a unique opportunity for all generations to learn and connect with family business experts and other enterprising families through our distinguished annual conference, ongoing educational programming and webinars, networking events, and affinity peer groups. Learn more about our work and how we support your family business success at fambus.org.

09/04/2026

Our Family Business Mixer road trip continued with stops in North Dakota and Minnesota. 🚗

Thank you to everyone who joined us for two more evenings of meaningful conversation, new connections, and shared perspective among family business leaders.

Each stop is a reminder of what makes this community so valuable: the opportunity to connect with others who understand the unique dynamics of building, leading, and sustaining a family business across generations.

➡️ Next stop: Iowa on September 10.

Explore upcoming events and register to join us at fambus.org/calendar

Thrive for Generations.

09/02/2026

One of the biggest challenges in family business is often one of the most familiar: communication.

When assumptions go unspoken, they can create unnecessary tension, confusion, and missed opportunities within the family and the business.

In this short clip from KELO Radio 1320 AM’s “It’s Your Business,” PFBA Executive Director Eric Erickson discusses why stronger communication matters and how families can be more intentional about preparing the rising generation for what comes next.

He also shares how facilitated family meetings and development opportunities can help families clarify expectations, build trust, and create shared understanding across generations.

Hear Eric’s perspective on why communication matters in family business.

Learn more and register for PFBA’s Next Gen Retreat at fambus.org/nextgen

Thrive for Generations.

09/01/2026

Family business continuity is built over decades through growth, adaptation, and a commitment to carrying the business forward.

That perspective came through during a recent PFBA member visit with Falcon Plastics in Brookings, South Dakota.

Executive Director Eric Erickson toured the operation with Jay Bender, a second-generation family business leader at Falcon Plastics.

Founded in 1975, Falcon Plastics has built five decades of experience in precision plastic molding. Today, the company serves customers through a multi-facility manufacturing model that combines U.S.-based expertise with operations in Mexico and Asia, helping provide flexibility across increasingly complex supply chains.

Falcon Plastics also holds a special place in PFBA’s history as one of our founding members in 1992. More than 30 years later, their story reflects the kind of long-term thinking, connection, and generational commitment PFBA was created to support.

Learn more about PFBA membership at fambus.org/membership

Thrive for Generations.

08/31/2026

Preparing the next generation for the future of a family business takes more than building business skills.

It also means learning how to navigate difficult conversations, challenge assumptions, understand different perspectives, and become more intentional about the role you want to play in the family enterprise.

PFBA’s latest article explores why strong relationships across generations matter, and how communication, self-awareness, and healthy conflict can help next-generation family business leaders prepare for what comes next.

Read the full article, then join us September 30–October 1 at The Lodge at Deadwood for the 2026 Next Generation Retreat, where we will take these conversations even further.

Read more: bit.ly/4qBBCWm
Register for the Next Gen Retreat at fambus.org/calendar

Thrive for Generations.

08/27/2026

Family business success takes more than hard work. It also takes structure.

Research from family business scholar Joe Astrachan of Generation6 Family Enterprise Advisors identifies three important predictors of family business success: boards, family meetings, and strategic planning.

Each one serves a different purpose. A board supports oversight and accountability. Family meetings create space for communication and alignment. Strategic planning helps the business look ahead and make intentional decisions.

Together, these practices give family enterprises a stronger foundation for growth, continuity, and generational transition.

For many families, the first step is not building the perfect structure. It is starting the right conversation.

What governance conversation does your family business need to start?

Thrive for Generations.
fambus.org

08/25/2026

Preparing the next generation to lead a family business does not start with a title. It starts with exposure, responsibility, mentorship, and room to grow.

In this month’s Family Business Perspective, Executive Director Eric Erickson shares why next-gen readiness is a long-term process and how families can create meaningful opportunities for rising leaders to build confidence before a major transition takes place.

Because the next generation does not become ready all at once. Readiness is built through conversation, experience, and intentional development over time.

Ready to invest in your next generation? Learn more and register for PFBA’s Next Gen Retreat at fambus.org/events.

Thrive for Generations.

08/24/2026

Agriculture has long been at the heart of many family businesses and the communities they help sustain.

PFBA Executive Director Eric Erickson, Assistant Director Mason Van Essen, and Business Development Manager Kim Erickson recently volunteered at the Sioux Empire Fair’s Ag Appreciation Lunch.

Hosted annually by the Greater Sioux Falls Chamber of Commerce, this complimentary luncheon recognizes the farmers whose work, dedication, and commitment contribute so much to the region.

PFBA was honored to support an event that celebrates agriculture, community, and the people who help our region thrive.

Thrive for Generations.
fambus.org

08/21/2026

📣 NEW DATE | August 28 at noon CST

Hard conversations are part of every family business. The question is whether families have the tools to navigate them well.

Join PFBA for Disagreeing Well: How to Have Hard Conversations, a practical Family Business Webinar about moving from conflict avoidance to healthier, more productive communication.

The webinar will explore how family businesses can:

• Address conflict before it damages relationships
• Create space for honest conversations without eroding trust
• Disagree productively without making conflict personal
• Build communication habits that support both family harmony and business continuity

Led by PFBA Executive Director Eric Erickson, the conversation will feature Betsey Fortlouis of InnerWill and members of a fourth-generation family building materials business.

Together, they will share the candid story of how their family moved from being on the brink of not speaking to holding productive, regularly scheduled family meetings — and the tools that helped them get there.

Register for the webinar: bit.ly/4x7HhWn
Read more: bit.ly/3SH6Y1h

Thrive for Generations.

08/19/2026

New ideas, practical resources, and more ways to connect with the family business community—your Q3 edition of Family Business Pulse has arrived 📢

Inside this issue:
✅ Upcoming Family Business Mixers and Next Gen Retreat
✅ A practical Resource: Family Business Checkup
✅ Member Spotlight: The Uthe Family of Trav’s Outfitter
✅ Insights from Assistant Director Mason Van Essen on developing an ownership mindset
.. and more!

Consider this your quarterly source for meaningful stories, useful tools, and opportunities designed to help your family business move forward together.

Read this edition and sign up to receive future releases at bit.ly/FamilyBusinessPulse.

08/18/2026

Family business governance does not replace the hard work that built the business. It helps sustain it.

For family enterprises, governance is not about adding complexity for the sake of process. It is about creating clarity around decisions, roles, accountability, and the future of the business.

A board can help family businesses stay aligned, think strategically, and make decisions that support both the family and the company over time.

In PFBA’s Family Business Governance Series, we’ll explore practical questions family businesses often face, including when to start a board, who should be involved, and how the right structure can support long-term success.

Because family business continuity does not happen by accident. It is built with intention.

Follow along for more family business governance insights from PFBA.

Thrive for Generations.
fambus.org

Address

Sioux Falls, SD

Opening Hours

Monday	8am - 5pm
Tuesday	8am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	8am - 5pm

Telephone

+16052749530

Website

http://www.fambus.org/

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