California Non-Profit to Represent the Needs of 1.4 Million Family Businesses at the State Capitol
The Family Business Association (www.myfba.org), today announced that for the first time, all family businesses (and their issues) in the state of California will be represented at the State Capitol. The organization was founded by 22 prominent family-owned companies (and growing) representing a variety of industries and sectors from across the state.
“A family business is more than just an enterprise; it is a legacy that leaders build and pass on to future generations. The FBA was created to help protect and perpetuate that legacy thus strengthening our state by strengthening one of its greatest assets,” said David Lucchetti, FBA Chairman and President and CEO of Pacific Coast Building Products. “Every year, California's legislature and regulatory agencies enact new laws and regulations that hinder a family business's ability to compete and grow. Without representation these restrictions will only worsen; FBA will be a powerful and persuasive voice for all of us in helping protect one of California's economic engines.”
There are organizations throughout California that assist with many aspects of family business; however, representation at the State level has traditionally been focused on specific groups or sectors not the overall issues that family businesses face as a whole. FBA will be a powerful and persuasive voice for family businesses promoting legislation, regulations and court precedents that help businesses remain successful while staving off those that are harmful to this important economic asset.
“The time for representation of California family business is now,” continued Lucchetti.
Family businesses are the backbone of our economy and a pillar of our local communities. They generate 57% of the nation's GDP, employ 63% of the workforce and create 75% of all new jobs. California's 1.4 million family businesses employ 7 million Californians and because of their prominent role in the state's economy and the positive benefits they provide, policies that nurture family businesses will yield ongoing benefits to the state's economy as a whole but representation is needed in order to do so.
Studies show that family businesses1:
• Generate higher returns for their shareholders
• Invest more in their employees' training and benefits
• Are more likely to promote women to executive management
• Are less likely to lay off workers in tough economic times
• Engage in higher levels of philanthropic giving
• Donate more to local causes
• Have better records of environmental stewardship
To ensure that the voice of family business will be heard, the FBA has hired California Advocates, one of the Capitol's oldest and most prestigious lobbying firms, to represent the organization. Additionally, Robert Rivinius, a veteran association leader, serves as Executive Director for the new organization.
About the Family Business Association
Established in 2012, the Family Business Association (FBA) is a new, non-profit, proactive organization representing family businesses at the state and national capitols. For more information about the FBA or to become a member, please visit www.myfba.org or call 916-443-1468.
1 Data drawn from IRS Statistics of Income Bulletin, Commerce Dept. Bureau of Economic Analysis, and California EDD. FBA defines a family business as follows:
- Ownership control of a privately held enterprise by members of a family or partnership of families
- Strategic influence by family members on the management of the firm, whether by being active in management, by continuing to shape the culture, and/or by serving as board members or advisors
- The desire for continuity and succession across generations