Serving South Dakota and Beyond
Growing Legacies: How the Prairie Family Business Association and USD Beacom School of Business Nurture Generations of Success
Throughout South Dakota and beyond, family businesses are doing more than just surviving—they’re thriving, thanks to a unique partnership that blends academic strength with real-world experience.
The Prairie Family Business Association, an outreach center of the University of South Dakota Beacom School of Business, has become a lifeline for family enterprises determined to carry their legacies into the future.
Abigail Woodford is one example of someone whose family has felt the impact of this organization. Woodford looked around at her family’s second-generation business, InterimHealthCare, and saw one common challenge: uncertainty.
“There was talk of my mom and dad retiring at some point, but no clear, set plan,” Woodford recalls. “We knew I was going to be part of the business, but my sisters weren’t sure, and we really didn’t have a transition plan. Prairie Family Business has helped us form and execute our transition plan.”
Stories like Woodford’s are at the heart of PFBA’s mission to provide family business owners with resources, guidance and a community designed specifically for those committed to improving their business.
With more than 280 member businesses representing 20 states, PFBA offers families tools, community and expertise tailored to their unique needs. Members make up a number of industries spanning agriculture, construction, manufacturing, retail, finance and professional services—and they all share a common goal: helping the family business thrive through generations.
Building on that mission, the Family Business Conference, now entering its 34th annual gathering, brings together 500 business leaders for two days of insight, networking and strategies to help their families’ businesses thrive.
Others in attendance include Affinity Peer Groups, which provides confidential, facilitated spaces for leaders and next-generation members to learn together and hold each other accountable. More resources include Board School, Family Business Action Plans and retreats that offer deep dives into governance, succession planning and preparing the next generation of leadership.
What makes PFBA truly distinctive, however, is its home within the USD Beacom School of Business. This partnership blends Beacom’s academic foundation with the lived experiences of multigenerational families.
With the two-way exchange that enriches both sides, PFBA members benefit from access to research and thought leadership, while students and faculty gain an intimate look at how real businesses navigate succession and growth.
Supported by this partnership with the Beacom School of Business, PFBA has become much more than a resource—it’s a community. It’s where families come to learn, prepare and envision the possibilities for the next generation. It’s where legacies are honored and futures are built. At its core, it’s about more than business. It’s about family, resilience and the belief that what’s built today can thrive for generations to come.
For more information about this outreach center, visit USD's Prairie Family Business Association webpage.
South Dakota Small Business Development Center Celebrates 40 years of Impact
For four decades, the South Dakota Small Business Development Center has been a cornerstone for entrepreneurs across the state.
Since its expansion to South Dakota in 1985, the SBDC has been hosted by the University of South Dakota’s Beacom School of Business. The program, which launched in 1980, provides free and confidential consulting services to startup entrepreneurs and existing business owners.
Each year the South Dakota SBDC works on over one thousand projects. Half of these clients are startup entrepreneurs who are looking to pursue their dreams. Roughly 25% of clients are existing business owners who are seeking to expand, and the remaining 25% are entrepreneurs looking to purchase an existing business, such as multi-generational businesses transitioning to the children or key employees buying out a business following a retirement.
SBDC features an experienced team of consultants—throughout Sioux Falls, Rapid City, Aberdeen, Watertown, Pierre, Yankton and Brookings—who have been with the program for an average of eleven years. Five members of the SBDC team have more than 20 years of experience each, as well as a breadth of knowledge in helping small businesses through the challenges of business planning, access to capital and remaining competitive in a changing economy.
As an outreach center for the Beacom School of Business, the SBDC is closely connected to the business school’s activities; it partners on outreach programs such as Coyote Business Consulting and regularly offers internship opportunities for students. Additionally, the SBDC supports the South Dakota Governor’s Giant Vision Competition, which features a student division in which USD students compete.
An exciting development in 2025 is that the SBDC became the first tenant in the newly constructed USD Discovery District, a research district serving as a hub of innovative research and commercialization in Sioux Falls. The SBDC’s office houses an international trade specialist, a Small Business Innovation & Research specialist and the APEX program, which assists in government contracting opportunities.
The Beacom School of Business is recognized for its strong commitment to student success and regional economic growth. Through its academic programs, outreach initiatives and partnerships like the SBDC, the business school continues to prepare future business leaders while supporting innovation across South Dakota.
For more information, please visit USD's South Dakota Small Business Development Center webpage.
Funding disclosures required by Section 632 of Public Law 117-328 available at: https://sdbusinesshelp.com/ small-business-development-center/.
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