Purdue Institute for Family Business

So proud of our leader for her compassion and service to farm and family business, small businesses and rural residents.

2025 Hovde Award recipient announced Purdue University College of Agriculture awarded the Frederick L. Hovde Award of Excellence in Educational Service to Rural People of Indiana to Maria Marshall, the James and Lois Ackerman Professor in Agricultural Economics. Sponsored by Indiana Farm Bureau and awarded during the organization’s c...

Behind the Research: Renee Wiatt Many people are involved in the remarkable range of programs, services and facilities that undergird research in the College of Agriculture. Collectively they’re integral to the college fulfilling its research mission. “Behind the Research” explores their individual roles. Each academic year, ...

Start early and communicate often when it comes to succession in the family farm. We have resources to help!

Successful farm succession hinges on starting early Purdue specialist emphasizes bringing family members into decisions before passing on the farm.

The latest PIFB Newsletter focused on succession has been released: https://bit.ly/3czV8kh. Articles focus on estate planning, Tax Acts, farmer retirement, and family business support.

Join us for this succession program!

Keeping The Business In The Family: A Roadmap To Successful Succession

Feb. 1st, 8th, & 15th
9:00-11:00 AM
Russellville Community Center
$50 per person

Register by calling 765-653-8411.

Join us to learn more about the succession planning process and develop a timeline and roadmap for the ownership and management transfer process. We will also be discussing how to deal with conflict and the stress that comes with succession planning.

Registration is still open for our virtual succession series!

Register now to attend our VIRTUAL Farming Together Series!

When: August 15, 16, 17 from 11:30am-1:00pm ET.

What: You will learn how to plan for the next generation and how to take steps to make your succession a reality!

How: Registration is $40 and you can complete it here: https://cvent.me/r9yl02.

Register now to attend our VIRTUAL Farming Together Series!

When: August 15, 16, 17 from 11:30am-1:00pm ET.

What: You will learn how to plan for the next generation and how to take steps to make your succession a reality!

How: Registration is $40 and you can complete it here: https://cvent.me/r9yl02.

Answer our new question: http://bit.ly/3NBcfje! Our May/June questions related to pollution. According to a survey of family businesses by PwC, 40% of those businesses are cognizant of environmental sustainability, but are not sure how to begin implementation in their business.

Succession is important in any business, but can be especially complicated in family businesses. Our respondents indicated that 62% intend to transfer their business to son(s), 8% plan to transfer to son(s) and niece(s), and 31% do not plan on transferring. Also, 54% of respondents had inherited their business from family. Answer our April QoM on sweat equity now at: http://bit.ly/3NBcfje

How do you develop a financial management checklist? How can your farm/family business use LLCs as multi-tools? How does business income vary by age? What will be the capabilities and skills needed to manage the farm of the future? All these questions and more are answered in our latest Q1 Succession Newsletter! Check it out here: https://bit.ly/3czV8kh! Purdue Ag Econ Purdue Agriculture

The new March question is posted --> http://bit.ly/3NBcfje! In February, we asked about quality. Most entrepreneurs and business owners (67%) think that their products/services are of higher quality than competitors, but is that true? As a business owner, it is YOUR job to be sure that you communicate to your customers how your product is different and better than competitors, which will lead to more loyalty from customer and more sales. Purdue Agricultural Economics

Learn more about "Communicating Value and Making the Sale"!