• FBA eNewsletter - October 2015


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     IN THIS ISSUE
     • 2015 Berks FBA Fall Forum
     • Educating the Family Workshops
     • Welcome and Thank You to Our New Family Champion Sponsors!
     • Struggling With Your Strategic Plan? Start the New Year Off Right!
     • Page Through the 2015-2016 FBA Program of Work Brochure
     • Join the Conversation With FBA Peers
     • Showcase a Family Business
     • Meet One of Our Subject Matter Experts
     • Have You Visited the New and Improved FBA Website Lately?
     • Business Advocacy Update
     • Additional Reading for Family Business Owners!
     
     
     
     

    Thank You to Our Berks FBA Sponsors!

    Primary Sponsor:  National Penn
    Major Sponsors:  Kozloff Stoudt Attorneys, RKL and WFM
    Program Sponsor:  Mosteller & Associates
    Family Champion Sponsors:  Fraser Advanced Information Systems, The Hitchcock Group Cleaning & Restoration, R.M. Palmer Company, and The Standard Group

    2015 BERKS FBA FALL FORUM

    Hear from Mike Fromm and Peter Rye on the benefits of sharing feedback and best practices from successful family-based businesses.

    We also invite you to join us for the Berks FBA Fall Forum - 'A Legacy of Success.' Hear from Berks County Family Businesses who know what the importance of preserving and growing strong family enterprises is to the economy of the community. These folks are at the helm, leading progressive, successful, and responsible family businesses. You will have the opportunity to join the conversation with questions at this highly interactive event. Register now for a seat at the table!

    Panelists include:
    Peter Rye, President - Brentwood Industries
    Mike Fromm, CEO - Fromm Electric Supply Corporation
    Ted Lentz, President - Lentz Milling


    DATE: Thursday, November 19, 2015
    TIME: 7:45 a.m. - 9:30 a.m.
    PLACE: Stokesay Castle, 141 Stokesay Castle Road, Reading
    COST: $25/person

    Special thanks to our generous sponsors for underwriting this event.

    For more information or to register, contact Danielle Antos at 610.898.7780.

    EDUCATING THE FAMILY WORKSHOP

    'Defining Compensation and Leadership Criteria' - presented by Chet Mosteller, Mosteller & Associates
    Family businesses with multiple family members employed in the company frequently struggle with definitions of roles and responsibilities as well as compensation levels for each family member. This not only causes confusion and concern among family members (particularly concerning compensation levels) but also has the potential to provide a lack of clarity for the non-family employees. This session is designed to provide tools and concepts to clarify core roles and responsibilities of family members as well as defining market competitive compensation levels, inclusive of providing internal equity. There is a distinct differential between level of responsibility equity versus for example, family sibling equity, and fairness. This program will give you ideas on approaching these issues in a fair and meaningful method.

    DATE: Thursday, December 10, 2015
    TIME: 8:00 a.m. - 10:00 a.m.
    PLACE: The Chamber's Center for Business Excellence, 49 Commerce Drive, Wyomissing
    COST: $25/person

    For more information or to register, contact Danielle Antos at 610.898.7780.

    WELCOME AND THANK YOU TO OUR NEW FAMILY CHAMPION SPONSORS!

    Berks FBA is pleased to announce the addition of several Family Champion Sponsors: Fraser Advanced Information Systems, The Hitchcock Group Cleaning & Restoration, R.M. Palmer Company, and The Standard Group.


    As investors in Berks FBA, these companies help support the growth and development of this initiative. Their support allows us to provide more relevant programming to help family businesses face their unique challenges. As family businesses themselves, they understand these challenges and want to help other area family enterprises address pressing issues, and provide solutions to these challenges. We thank each of our supporters, and look forward to learning from, and alongside, them!

    STRUGGLING WITH YOUR STRATEGIC PLAN? START THE NEW YEAR OFF RIGHT!

    We are pleased to partner with the Center for Entrepreneurial Leadership at Alvernia University in presenting 'The One Page Strategic Plan.' Driving growth and profitability involves engaging everyone in the organization - from senior executives to frontline employees. The one page strategic plan developed by Verne Harnish has helped simplify strategic planning, making it a dynamic document, and allowing for clearer understanding and accountability to be achieved in an organization. Learn how to use this powerful tool to help your organization move in sync and create profitable growth.

    DATE: Thursday, January 7, 2016
    TIME: 8:00 a.m. - 11:00 a.m.
    PLACE: Alvernia University, 400 St. Bernadine Street, Reading, PA

    COST: $45/person
    For more information or to register, contact Danielle Antos at 610.898.7780.

    PAGE THROUGH THE 2015-2016 FBA PROGRAM OF WORK BROCHURE




    Check out all the informative programs
    scheduled for the year specifically for
    family-owned businesses!


     
    JOIN THE CONVERSATION WITH FBA PEERS

    Let's face it - family business owners face extraordinary challenges unique to running a family business. Facilitated by professionals in their field, the FBA Peer Discussion Group Program is a great way to gather with your peers, share common problems and experiences, and to learn how to deal with the unique situations facing your family business.

    We allow only one participant per group from each industry segment in order to avoid competitive concerns. To promote camaraderie and trust, enrollment is designed for a designated individual (not meant for a company to send different people at different times). Enrollment in a group is limited to Chamber members. Peer groups meet a minimum of 8-10 times per year and the annual participation fee is $400.

    Sign up by contacting Danielle Antos at 610.898.7780.

    FAMILY BUSINESS SHOWCASE
    Member Spotlight
    MEET ONE OF OUR SUBJECT MATTER EXPERTS!
    Meet one of our
    Subject Matter Experts!

    We have a full range of experts in all disciplines to assist you with those issues that are critical to your business' success. These professionals can offer up to two hours of one-on-one consultation at your office or their location.
    To get in touch with a SME, please contact
    Danielle Antos, Program Coordinator at 610.898.7780
    Daniel P. Becker

    Daniel P. Becker is a Shareholder and the Managing Director of the Law Firm of Kozloff Stoudt Attorneys. Having grown up in a family owned business, Dan understands the impact of family dynamics on day to day decisions and long term planning confronting all family owned business. It is these family related issues that led Dan to pursue a career in the law. Dan has significant experience counseling family owned businesses on a variety of legal issues including establishing the proper form of business entity; mergers and acquisitions; the purchase and sale of real estate and business assets; as well as subdivision, land development and zoning matters.

    HAVE YOU VISITED THE FBA WEBSITE LATELY? NEW AND IMPROVED!
    BUSINESS ADVOCACY UPDATE

    Responsible Franchises Bill in Review
    The PA House Consumer Affairs Committee takes on the issue of responsible franchises - HB 1620. The bill aims to provide consistency in the interaction with a franchise and a franchisee through state regulation, thus mitigating any unfair practices that may exist.

    ADDITIONAL READING FOR FAMILY BUSINESS OWNERS!

    Increase Business Cash Flow with Cost Segregation - Reinsel Kuntz Lesher (Video Resource)
    Accelerated tax deductions and increased cash flow are two things all businesses would like to achieve, but there are companies that have not yet considered a beneficial way to do so: a cost segregation study. View the video here.

    How to Ensure Your Business Survives the Next Generation, Lisa Evans
    Handing down a family business is a dream of many entrepreneurs who want to see the business they started thrive in the hands of the next generation. But, statistics show that succession can be riddled with challenges. Read more here.

    Greater Reading Chamber of Commerce & Industry
    Tel: 610.376.6766
    fba@GreaterReadingChamber.org
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    201 Penn Street, Suite 501, Reading, PA 19601
    Fax: 610.376.4135
    www.berksfba.com
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