About
Our Story
The roots of the Family Enterprise Center go back to the early 2000s, when a small group of local business leaders began meeting to share ideas, advice, and support. They understood the unique challenges that come with running a family-owned company and wanted a structured way for leaders and successors to learn from one another.
As the group grew, these leaders approached the University of Arkansas – Fort Smith with a vision for a dedicated resource center focused on family enterprise and small businesses. In 2004, UAFS recognized the importance of family-owned and small businesses to the region’s economic strength and formally established what would become the Family Enterprise Center.
On November 7, 2023, the center was renamed in honor of the late Jim Walcott, a respected
business and community leader whose legacy reflects service, mentorship, and a commitment
to regional growth.
The Jim Walcott Family Enterprise Center continues this work by helping family businesses
thrive across generations.
Mission
The Family Enterprise Center strengthens family-owned businesses by bringing leaders together to learn, plan, and build healthy family and ownership relationships. The center provides space for open conversation, objective guidance, and practical tools that support long-term continuity and leadership development.
The Family Enterprise Center aligns with the Center for Economic Development mission to empower regional growth through consulting, training, and networking opportunities that support individuals, businesses, organizations, and communities.
Who We Serve
The Jim Walcott Family Enterprise Center supports:
- Owners and executives of family-owned businesses
- Next-generation leaders preparing for future roles
- Non-family executives working with family enterprises
- Advisors who counsel business families on strategy, finance, and succession
- Family enterprises throughout the Fort Smith region, the Arkansas River Valley, and across the United States
What Makes Us Unique
The Family Enterprise Center is the only organization of its kind in Arkansas and one of only about 50 nationwide.
The Family Enterprise Center stands apart because it:
- Serves business families throughout the River Valley and across the nation
- Operates within a public university committed to economic and workforce development
- Offers confidential peer groups where leaders speak candidly about challenges and solutions
- Connects members to research, practical tools, and leadership development resources
- Provides access to training through the UAFS Center for Business and Professional Development
- Builds lasting relationships with business families through every stage of generational transition
Connect
The Jim Walcott Family Enterprise Center welcomes business owners, family members, and advisors who want to learn more, join a peer group, explore membership.
Our Values
As part of the UAFS Center for Economic Development, the Jim Walcott Family Enterprise Center is guided by shared values:
- Responsiveness
- Proactivity
- Excellence
- Inclusivity
- Connection
- Collaboration
These values shape every program, conversation, and partnership.