University News
IIRA "Business Succession and Transition Planning" Workshop Scheduled for Oct. 30 in Lanark (IL)
October 15, 2014
MACOMB/LANARK, IL – The Illinois Institute for Rural Affairs (IIRA) at Western Illinois University is hosting the workshop, "Business Succession and Transition Planning," beginning at 5:30 p.m. Thursday, Oct. 30, in collaboration with the city of Lanark and the MAPPING group, Living Lanark. The event will take place at Lanark's city hall (in city council chambers), located at 111-A S. Broad St. The workshop is open free to businesses of all sizes and in all sectors throughout the region.
According to Jolene Willis, associate manager of IIRA's Illinois Cooperative Development Center, the workshop will be conducted by Steve Barnhart, a technical specialist from the Illinois Manufacturing Excellence Center (IMEC). She said his presentation will address succession- and transition-planning issues encountered by all types of family and closely held businesses, regardless of whether they are in the manufacturing sector. With more than 25 years of organizational development and operations leadership experience, Barnhart provides training and business improvement services to Illinois companies, drawing upon IMEC's state and national resources to help companies increase productivity and remain competitive, Willis noted.
"Business owners are encouraged to attend and learn more about the components of a company transition as it relates to business planning for the future," explained Willis, who will also be available to address questions about the cooperative option for business succession. "We will highlight the option of forming a cooperative as a business succession strategy. In some situations, a cooperative is an effective way of mobilizing community members to support a transitional business' future."
Lanark Mayor John Huggins said the city of Lanark is very interested in offering available resources aimed at assisting local business owners.
"The Business Succession workshop will help raise awareness of an issue very important to the continuing success of our local businesses. This area is made up of mostly small, family-owned businesses and farms. Succession needs to be included as an important component of their business planning, and understanding that is crucial to maintaining and growing the Lanark economy," he noted.
Although the workshop is open free to businesses throughout the region, registration is required. To register, contact Becky Millard by Tuesday, Oct. 28 at (815) 821-3933 or via email at becka.millard@gmail.com.
For more information, contact Willis at (309) 298-2835. Visit the IIRA at www.iira.org.
This workshop is sponsored by the Illinois Cooperative Development Center and MAPPING the Future of Your Community programs at the Illinois Institute for Rural Affairs, along with USDA Rural Development and the Illinois Department of Commerce and Economic Opportunity.
Posted By: University Communications (U-Communications@wiu.edu)
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