This webinar addresses entrepreneurial strategies and practices that were found to enhance the sustainability of family owned businesses in rural communities during recessionary times. Family businesses not only provide the economic base for many rural communities, they may also offer leadership and financial support for community projects, civic clubs, and other local organizations. Family businesses can add desired products and services, foster local pride, and contribute to the quality of life, thus making the community even more attractive for additional business opportunities and in-migration. Identifying entrepreneurial strategies and practices that can enhance the sustainability of family firms, particularly in challenging economic times, also supports local communities and the economic viability of rural areas.
This NCRCRD supported research focused on how rural family owned businesses responded through managerial strategies and practices to the economic recession of 2007-2009. Ongoing impacts of family business behavior on firm performance and sustainability post-recession (2015) were also examined. The wave of data collected from this NCRCRD grant is part of a larger longitudinal study that followed a cohort of family businesses over a 20-year period. Findings from this research will be of value to academic researchers, family and small business consultants, rural and economic development specialists, and practitioners.
Presented by: Dr. Linda Niehm (Iowa State University), Dr. Margaret Fitzgerald, (North Dakota State University) and Dr. Glenn Muske, Small Business Consultant and owner of GM Consulting. Dr. Muske was formerly an Extension Specialist focusing on small and family owned businesses with North Dakota State University.
There is no registration and no fee for attending this webinar.