Family-owned Businesses Create Growth & Jobs

from Berks County Living May 2023

by Innovative Designs & Publishing, Inc.

Origen Latin Fusion: UPBEAT ISLAND VIBE

BY AUDREY KRUPIAK, ASSISTANT DIRECTOR OF COMMUNICATIONS & MARKETING, GRCA

Family-owned businesses may be anything from a mom-and-pop shop to a small or midsized company. But often, the family-owned business descriptor does not actively reflect how powerful the role that these businesses have in the U.S. and local economies. Family-owned businesses contribute 57 percent of the U.S. GDP (that’s $8.3 trillion), employ 63 percent of the workforce (FEUSA, 2011) and are responsible for 78 percent of all new job creation (Astrachan & Shanker, 2003).

Growth & Job Creators

There is no shortage of family-owned businesses in Berks County that create growth and jobs. In fact, several have been winners of the Greater Reading Chamber Alliance’s (GRCA) Business Excellence Awards in previous years. The awards feature two categories separating businesses by annual revenue. Category 1 represents businesses with $1 million in annual revenue for the past three years, and Category 2 is reserved for businesses with $250,000 in annual revenue for the past three years. The winners are recognized for the growth and vitality they bring to the Greater Reading community.

For example, Wyatt Seating, a family-owned company that manufactures high-quality office seating that ships to customers across the country, bumped up to Category 1 last year due to its explosive growth. And the company shows no signs of slowing down. With a mission to ensure everyone can have a great chair, it hopes to continue growing and expanding for years to come.

Wyatt Seating, among other familyowned businesses in Greater Reading, is employing our people and creating new jobs within the community.

“While many of our competitors were scaling back last year, we saw the need and the opportunity to beef up our operation and add to the Wyatt Seating team. We believe 2023 will be the biggest year for our company yet,” says John Gallen, Wyatt Seating president and owner.

Family-Owned Business Support

For nearly a decade, the Berks Family Business Alliance (FBA) has been helping local family-owned businesses learn, cultivate and grow. Founded in 2014, FBA is a signature program of GRCA. In preparation for its 10th anniversary, FBA is evolving its brand to support its growth goals and expand its business expertise across the community. Its original mission to provide resources and support for family businesses has transitioned to include closely held businesses of all sizes. FBA provides diverse programming and numerous interactive opportunities to local businesses. FBA members can benefit from Peer Groups, workshops, signature events and networking functions designed to help familyowned businesses (and closely held businesses) succeed.

Membership to FBA is open to all Berks County family-owned and closely held businesses and their employees. While there are no fees to join FBA, GRCA members receive discounted ticket prices, invitations to more events, and most importantly, access to the professionally facilitated Peer Groups. To learn more about FBA and to join visit, greaterreading.org/ berks-family-business-alliance/

Upcoming Event

Join GRCA as it holds its 110 th Annual Dinner on May 23 from 5 to 8:30pm at Santander

Arena. Experience a keynote discussion with Candace Ne lson, a successful entrepreneur known for co-founding Sp rinkles, the world’s first cupcake bakery and cupcake ATM, as we recognize the area’s top growth businesses. Visit greaterreading.org for tickets and more info.