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Finance, Mentoring & Education

From Business…to Family Business… to Women in the Family…to Women in the Family Business

Pat Langiotti, PMC President, Creative Management Concepts Chair of the Chamber’s Berks Family Business Alliance

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t’s estimated that more than two-thirds of the business establishments in the Greater Reading marketplace are family owned and operated. There are literally thousands of family businesses ranging in size from the largest, like Boscov’s and East Penn Manufacturing, to the very smallest—home based service firms. No matter the size, all of these family businesses have one thing in common…in addition to dealing with regular business challenges, they must also deal with family issues. And as most will tell you, that can be more taxing than running the business! There is no doubt my traditional, conservative background influences my thinking...but whenever I hear the word ‘family’ my brain pictures a female. After all, what’s a family without a woman at the center of the family unit? My brain doesn’t do that when I hear the word ‘business’—but perhaps it should! The person who is at the center of a family business is also often a woman! It’s risky to make broad generalities (since there are always exceptions to the rule) but most would agree that:

10 Women2Women Summer 2014

WOMEN ARE GOOD AT MULTI–TASKING. They’re used to juggling multiple roles every day, all day long.

WOMEN TEND TO BE WELL ORGANIZED. They manage work, children and home responsibilities and to do so they must be well organized.

WOMEN have strong people skills. Refereeing and ‘keeping the peace’ on the family front is a great proving ground. • WOMEN • have experience managing a budget. Often out of necessity— as a result of having to manage and stretch the household finances.