Family-owned businesses are the single biggest job creator in our economy. Family-owned businesses employ 60% of the U.S. workforce and are responsible for 78% of all new jobs created in the United States.
We know that family-owned businesses continue to struggle with issues of succession. Only 30% of family-owned businesses successfully pass from the first generation to the second generation and from there, only 12% of family-owned businesses successfully pass from the second generation to the third generation.
Privately-held businesses represent a large majority of Berks County based businesses, as well as our Greater Reading Chamber Alliance (GRCA) membership. GRCA, along with key community leaders, established the Berks Family Business Alliance to meet the specific needs of family-owned businesses — small and large. We help guide and navigate them to the resources they need to prepare their business family for generations of success by offering: