Brief Summary of Minutes of Annual Meeting

Summary of the Minutes of the Annual Meeting: This was the first meeting of a new project which began on October 1, 2006. The focus of the meeting was threefold: 1) Transition from the NE-167 Project: Updates focused on the transition from the previous project, NE-167 Family Firms in Economically Vulnerable Communities including the carry-over of remaining funds acquired as other entities purchase our data. Funds that were deposited at Cornell University were transferred from Cornell to NDSU because Cornell is no longer participating in the project. The list-serve has been moved from Cornell to NDSU and the web-site will be relocated to the Ohio State University. 2) NSF Grant Award: Three researchers from the technical committee (Sharon Danes, Kay Stafford and George Haynes) have been awarded a National Science Foundation (NSF) grant to cover the costs of data collection in-part for the NC-1030 project. Discussion centered on development of the questionnaire and how the objectives of the NSF and NC-1030 projects fit together. We also articulated each states plan of work for the next year. 3) Updates to the policy manual: The NE-167 project had a well-developed policy manual which was adopted for use in the new NC-1030 project, however updates needed to be made regarding external funding and declaration procedures for grant proposals.

Accomplishments and Impacts: The milestones identified for the up-coming year included continued review of the literature, conceptual framework development, sampling decisions and seeking funding. The group is successfully meeting each of these milestones. Members of the group continue to review literature and test the Sustainable Family Business (SFB) model developed through NE-167 and are actively presenting and publishing their work using data from the previous projects. Two members of the technical committee, Sharon Danes and Kay Stafford, developed documents on the Description, History, Contribution and Innovations of the technical committee over time and a Summary of the NSF Award that were distributed to North Central AES Directors and the Deans of Human Science Colleges in the North Central Region after the meeting. Sampling decisions were made regarding follow-up data collection with the most recent panel of the National Family Business Survey. The technical committee gathered data in 1997 and 2000 for the previous projects.

Publications: Presentations and publications listed below reflect work coming out of the last NE-167 project through the transition into the new NC-1030 project (2006-07), and meet the objectives of the previous project as we were only eight days into the new project at the time the state reports were submitted. Grant Proposals Three grant proposals were submitted by Sharon Danes, Kay Stafford and George Haynes to collect additional data for this project. The following proposal was funded by the National Science Foundation: Family business response to federal disaster assistance, submitted to the National Science Foundation, February, 2006  funded. Refereed Journal Articles Danes, S.M. (In press; September, 2006). Tensions within family business-owning couples over time. Stress, Trauma & Crisis. Haynes, G.W., Onochie, J., & Muske, G. (in press). Is whats good for business, good for the family in family business? Journal of Family and Economic Issues. Lee, Y.G., Danes, S.M., & Shelley, M. C. II. (2006). Work roles, management and perceived well-being for married women within family businesses. Journal of Family and Economic Issues, 27(3), 523-541. Lee, Y., Hong, G.S., & Rowe, B. (2006). Third shift women in business-owning families. Journal of Family and Economic Issue, 27(1), 72-91. Muske, G. & Fitzgerald, M. A. (2006). A panel study of copreneurs in business: Who enters, continues and exits? Family Business Review. 19(3), 193-205 Niehm, L.S., Miller, N.J. (2006). Entrepreneurship and the impact of managerial role on family business success. Journal of Marketing and Entrepreneurship. 8(1), 75- 94. Ou, C. & Haynes, G.W. (in press). Uses of equity capital by small firms, findings from the NSSBF. Small Business Economics. Yilmazer, T. & Schrank, H. (2006). Financial intermingling in small family businesses. Journal of Business Venturing, 21(5), 726-751. Zody, Z., Sprenkle, D., MacDermid, S. & Schrank, H. (2006). Boundaries and the functioning of family and business systems. Journal of Family and Economic Issues, 27(2), 185-206. Book Chapters Heck, R., Danes S., Fitzgerald, M., Haynes, G., Jasper, C., Schrank, H., Stafford, K., & Winter, M. (2006). (in press). The familys dynamic role within family business entrepreneurship. Chapter 5 in Poutziouris, P., Smyrnios, K. & Klein, S. Handbook of Research on Family Business. Elgar Publishing, Cheltenham Glos, UK. Refereed Presentations: Haynes, G.W., & Ou, C. (2006, January). Did households owning small businesses fare during the largest ever peacetime expansion in the U.S. economy, United States Association of Small Business and Entrepreneurship/SBIDA 2005 Conference Proceedings, Tucson, AZ. Danes, S.M., Loy, J. T., & Stafford, K. (2006, April). Family business success: Differences in female- and male-owned businesses. Manuscript presented at the Family Enterprise Research Conference in Niagara Falls, Canada. Manuscript received Honorable Mention at the conference. Hsu, P., & Masuo, D. (2006, April). Characteristics of home-based family businesses: A comparison between Hawaii and the United States. Poster presentation at the Hawaii Association of Family & Consumer Sciences Annual Meeting Honolulu, HI. Niehm, L.S., Miller, N. (2006). The impact of managerial role on family business success: A longitudinal perspective. In proceedings of the USASBE (United States Association for Small Business and Entrepreneurship) Annual Meeting, Tucson, AZ. Yilmazer, T. & Schrank, H. (2006, June). Review of financial bootstrapping and intermingling in small and family businesses. Refereed Paper presented at the EIASS Family Firm Conference, Nice, France. Related Work Muske, G., Woods, M., & Swinney, J. (accepted with revisions). Small Businesses and the Community: Their Role and Importance within a States Economy. Journal of Extension. Muske, G., Yu, H., & Khoo, C. (2006). Internet standards: How one states small business web sites compare to expectations. Retrieved from Journal of Extension Web site: http://www.joe.org/joe/2006april/rb1.shtml Runyan, R. C., Droge, C, & Swinney, J. (2006). Entrepreneurial orientation and social capital as small firm strategies: A study of gender differences from a resource- based view. International Entrepreneurship and Management Journal, Vol. 2, No. 4. Swinney, J., Runyan, R., & Droge, C. (2006, June) Differences in Reported Firm Performance by Gender: Does Industry Matter? Journal of Developmental Entrepreneurship, vol. 11 No. 2.