Rural Business Transitions Webinar Series
This free series of 5 noontime webinars - brought to you through the collaboration of Rural Partners, the Illinois Institute for Rural Affairs, and Illinois Extension - is designed to help local officials and administrators, as well as researchers, identify ways to retain local businesses in rural communities, as current owners retire or otherwise move away. The sessions review major trends in rural businesses, best practices used in rural areas, and opportunities to work with local leaders and residents to stabilize local economies.
If you will need a reasonable accommodation to participate in one of the programs, please email mdelany2@illinois.edu. Early requests are strongly encouraged to allow sufficient time to meet your access needs.
https://registration.extension.illinois.edu/start/rural-business-transitions-webinar-series
The programs, each starting at 12:00 pm CT, include:
March 10, 2026 “Navigating an Era of Transition in American Business: Emerging Trends, Risks, and Opportunities”
Presenter: Tessa Conroy (University of Wisconsin)
The average age of business owners in the U.S. has been increasing for decades. And with more and more business owners nearing retirement age, there may be a wave of business transitions as these owners pass their companies to new owners. The large-scale transition of businesses, however, has been slow to accelerate. This session will explore the demographic trends in business ownership as they relate to the transition of U.S. businesses as well as a range of considerations that can positively or negatively impact business succession.
Bio:
Tessa Conroy, Ph.D., is an Associate Professor in the Department of Agricultural & Applied Economics and a Community Economic Development Specialist at the University of Wisconsin-Madison. Dr. Conroy conducts applied research and provides technical assistance related to economic growth and development, focusing on small business dynamics.
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March 24, 2026 “The Evolution of Succession Planning: Strengths, Shortfalls, and Innovative Pathways Forward”
Presenter: Jarvis Tyrell Curry (University of the Cumberlands)
Traditional succession planning is essential for business continuity and stability. The presentation traces its evolution and, through case studies, demonstrates that rigorous plans promote survival through leadership continuity and financial strength, while revealing weaknesses such as inadequate successor preparation, resistance to change, and misaligned objectives. It also examines innovative approaches and alternative models tailored to varied contexts, highlighting the need for flexibility and stakeholder engagement.
Bio:
Jarvis Tyrell Curry, Ph.D., teaches strategic management, corporate governance, and analytics at the University of the Cumberlands. He holds a Ph.D. in Business and Strategic Management, as well as degrees in JD, LL.M., MBA, and BA. With more than 20 years of experience in audit and risk management, culminating in an executive role for the State of California, his research encompasses corporate governance, succession planning, finance, law, and marketing.
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April 7, 2026 “Succession Through Shared Ownership: Exploring ESOPs and Employee‑Led Transitions”
Presenter: Michael Palmieri (Kent State University)
This webinar provides a framework for understanding broad-based employee ownership and using it on three common models—ESOPs, worker cooperatives, and employee ownership trusts. Rather than focusing on technical mechanics, the session explores how governance and financial rights differ across these models and how workers benefit from ownership in practice, with special attention to their role in business succession and community stability in rural and small-town contexts. Common myths about employee ownership, including concerns about risk, firm performance, and employee readiness will be addressed. Participants will learn a more straightforward, evidence-informed, and practical way to think about employee ownership as a succession-planning option.
Bio:
Michael Palmieri, Ph.D., CEPA, is Associate Director of the Ohio Employee Ownership Center at Kent State University, where he leads education and training for employee-owned companies and oversees the Center’s research and data initiatives. His work examines ESOPs, worker cooperatives, and employee ownership trusts, focusing on how alternative ownership structures shape firm performance, workplace practices, and worker outcomes. He is a Fellow at the Rutgers Institute for the Study of Employee Ownership and Profit Sharing and teaches political science at Kent State University.
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April 21, 2026 “Business Succession for a Strong Rural Community: Worker Co‑ops as a Transition Strategy”
Presenter: Stacy Mullinex (University of Northern Iowa)
Rural communities across the country are facing a growing succession crisis as long‑time business owners retire without clear buyers. This webinar explores how transitioning to a worker cooperative offers sellers a built-in buyer for the business, stable jobs for employees, and economic vitality for the community. Participants will learn the basics about the worker cooperative structure, how employee buyouts are feasible, and why it is a powerful strategy for sustaining rural economies.
Bio:
Stacy Mullinex, MBA, is a Senior Project Manager for the Iowa Center for Employee Ownership housed within the University of Northern Iowa. She specializes in valuation, growth strategy, and customized succession planning with a focus on employee ownership. Stacy brings more than 20 years of business experience to her role with a Public Administration PGC, undergraduate degrees in Business Administration and Accounting, and the Certified Exit Planner (CExP) designation.
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May 5, 2026 “Sustaining Local Commerce: The Role of Community-Supported Enterprises in Business Retention”
Presenter: Norman Walzer (Director Emeritus, Illinois Institute for Rural Affairs, WIU)
Small towns, faced with a long-standing business closure due to retirement or other events, have organized a group of residents to invest in the business or structure and re-open it. These locally based efforts can help revitalize a community by improving quality of life and making the area more attractive to prospective residents. This webinar explores several cases and discusses key factors important in their successes.
Bio:
Norman Walzer, Ph.D., is professor of economics Emeritus and founding director of the Illinois Institute for Rural Affairs housed at Western Illinois University. He has studied and written extensively about community-supported enterprises in several states, especially Vermont, and recently co-edited a book (with Christopher Merrett) on Retaining and Transitioning Businesses in Communities.
https://registration.extension.illinois.edu/start/rural-business-transitions-webinar-series