First Year of Family First a Success!

Our initiative Family First recently wrapped up its first year of successful programming and is now looking ahead to the next year of events that will provide opportunities for the recognition, education, and promotion of Greater Philadelphia’s family businesses.

Deeply rooted in tradition, family businesses are at the heart of Greater Philadelphia’s business community. Recognizing the vital segment of family businesses in our region, the Chamber and Firstrust Bank partnered to create Family First, a unique initiative that supports the growth of family businesses through educational seminars and networking opportunities.

“The Greater Philadelphia Chamber of Commerce is extremely grateful to Firstrust Bank for its leadership in the development of this groundbreaking program,” said GPCC President Mark S. Schweiker. “When Firstrust Bank approached us with this idea, we immediately knew that both current and potential Chamber members would benefit from a program so uniquely suited to their needs.”

Family First is the region’s first program exclusively for family-owned businesses. As a result of the program, more than 200 Chamber members have identified their business as family-owned.

The first year of Family First programs helped family businesses address their unique needs, learn from their family-business colleagues, and build a network to cultivate new opportunities.

The kick-off event highlighted the challenges and opportunities facing Greater Philadelphia’s most prominent family business executives, including family-business pioneer Dick Wood of Wawa and fourth-generation entrepreneur Bill Yoh from the Day & Zimmermann Group.

A roundtable workshop provided attendees the opportunity to talk with experts on a variety of issues unique to family business including succession planning, estate and income tax planning, conflict resolution, and compensation strategies.

The most recent educational program taught family business owners how to successfully integrate non-family employees into their workplace and gave non-family employees insight into how they can rise to the top of a family business.

This 2007-08 programming will provide attendees with the opportunity to learn strategies and methods other family business have used to build their successful enterprises and discover ways that their businesses can thrive in the Greater Philadelphia market.

For more information on attending the next Family First event or joining this initiative, contact Brynn Hines at bhines@greaterphilachamber.com or 215-790-3630.