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 GRCA membership. Many of these businesses are family-owned and operated. The Greater Reading Chamber Alliance, 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: