Onward FX event brings NWA, central Arkansas together with worldwide investors
by October 31, 2025 5:00 am 468 views
The next generation of legacy business leaders from Arkansas shared their thoughts Thursday (Oct. 30) on the future of entrepreneurship and home-grown startups at a conference in Little Rock that brought central Arkansas and Northwest Arkansas together with investors from around the globe.
The Northwest Arkansas Council’s Onward FX program held a luncheon at the Arkansas Museum of Fine Arts as part of its two-day conference in the capital city. Bill Dillard, III senior vice president of Dillards Inc., and Miles Stephens, Co-CEO of Stephens Inc., shared their thoughts on how to identify and nurture the next William Dillard or Witt Stephens – two business pioneers who founded their iconic Arkansas companies.
“Arkansas is unique,” said Dillard. “This is a one degree of separation state,” he said in explaining how connected the business community. “There’s a willingness to help and a relationship equity. It’s just a friendly place.”
When asked if the next Sam Walton or Don Tyson might be in the audience today, Stephens noted that many Arkansas success stories – Walmart, Tyson Foods, J.B. Hunt and Alltel – trusted his family’s investment banking firm to help them launch or grow as public companies two generations ago.
“Arkansas was key to our success when we were trying to become a successful investment bank,” he said. “Nothing would make me happier than seeing a new generation of Arkansas companies rise.”
The Dillard-Stephens interview was led by Serafina Lalany, executive director of the Northwest Arkansas Council’s StartupNWA, in front of a crowd of hundreds of entrepreneurs and investors. The day was filled with networking and introductions as well as scores of meetings meant to help proven startups find capital to advance to the next round of company growth.
The conversation with Dillard and Stephens offered insight into how they are managing their companies as third-generation family leaders. The pair also offered insight for startups as well as investors eyeing financial support for them.
“Someone had to trust in us and believe in us,” Stephens noted. “New companies need that one person to believe in them.”
Dillard shared his philosophy of weathering tough business conditions in order to grow. He discussed taking care of the fundamentals of managing inventory and empowering your workforce and encouraged taking care of the basics of business while being adaptable to ever-changing conditions.
“We believe in doing 100 things one percent better,” he said.