ISYS leaders participated in the September Roundtable of family business leaders from across the country on Capitol Hill. The program was facilitated by Family Enterprise USA, a nonprofit bipartisan advocacy organization, and it was hosted by the newly formed bipartisan Family Business Caucus in Washington DC. The purpose of the roundtable was for members of both parties in the House of Representatives to learn more about how family businesses are unique and different from what is commonly referred to as “corporate America.” It was attended by 30+ family business leaders and 5+ of the 20+ Congressional Caucus members.
Points highlighted include:
- 55% of GDP (Gross Domestic Product) comes from family businesses.
- 60% of jobs come from family businesses.
- Studies show family businesses pay above average wages.
- 80% of family businesses donate to local charities.
- Family businesses are more likely to make strategic decisions based on long-term sustainability versus short-term gains.
- Family businesses are negatively impacted by current tax laws that disproportionately benefit C-Corps since most family businesses are not C-Corps.
- 74% of family businesses have seen lower profits as a result of inflation and economic downturn.
In addition to participating on the Caucus roundtable leaders met separately with lawmakers and their chiefs of staff to advocate for family businesses and encourage others to join the Caucus. They participated in the grind of going to offices, walking back and forth between Capitol buildings, and repeating the message over and over to lawmakers about how family businesses are often misunderstood and not recognized for the positive impact they have, in how they contribute to our society and culture through economic growth, enhancing quality of living for those employed, providing higher value products and services , and improving local communities through charitable giving.
As a family and leadership group, the most important reason we work to sustain a multi-generational successful business is our heart-felt desire to serve. Having a positive impact remains our success driver and we’re so grateful for all our ISYS/CSL family for enabling and inspiring us to steward the organization further into the future and for helping us live out our mission, vision, and values.