Legislators must know what is important to family businesses; what helps or hurts them when it comes to operating their business and creating more jobs.
As we learned from the last tax bill, Family businesses are not at the forefront of discussions in Washington D.C., and legislation impacting them will happen as it did in the last tax bill.
For that reason, it is critical that legislators hear from family businesses continually. Legislation affecting family businesses can happen at any time and if they do not express their concerns the legislation that gets passed will not be beneficial to their interests.
Family Enterprise USA is a 501 (c)(3) organization dedicated to educating lawmakers and growing public support for family businesses across America.
To determine what issues family businesses are concerned about, Family Enterprise USA conducts a survey of family businesses each year and delivers that information to legislators, educators and others who must be informed.
Without this information, legislators will pass laws that could penalize family businesses, making it costlier and more difficult to operate their businesses.
One example of this: tax rates that favor corporations, which pay a lower rate of tax than family owned businesses—many which operate within a Sub S Corporation, Limited Liability Company, Limited Partnership or Sole Proprietorship. Another example is the estate tax, which is paid by families but not by public companies. These examples highlight the importance of giving a voice to family businesses considering their contribution to the expansion of the American economy.
Many countries have repealed their estate or inheritance tax; China, Mexico, Russia, New Zealand, Australia, India, Sweden and Canada. This is a statistic important to legislators when they are considering what legislation makes sense for the United States family businesses.
Family businesses in America generate 50% of the jobs, 64% of GDP and account for 61% of all privately owned businesses. When considering the global impact of family businesses this statistic is also significant. While they are very important to the economic growth of our country, they are often not given proper consideration when new laws, regulations and restrictions are imposed by legislators and other government bodies. To that end, the purpose of Family Enterprise USA (FEUSA) is to be “the voice of family firms in Washington D.C.” The organization is dedicated to educating legislators the media, educators, and the public about the implications of public policy on closely held and family-owned businesses. FEUSA conducts non‐partisan research that highlights the contributions of family enterprises to the economy and the challenges these businesses face, which is then used to educate. This research provides the foundation for FEUSA to educate the public and government leaders on the important role of family businesses in the economy and local communities.
The annual survey helps track family businesses’ contributions to the economy and communities they serve.
Family businesses are key to the economic growth of America and must havet their voices heard. Completing will help accomplish this goal.
If you have any questions, please don’t hesitate to ask.
President; Family Enterprise USA
Family Enterprise USA is the organization that represents all family businesses on a national level in DC; it is not unique to any industry. FEUSA is different from other organizations because it represents and advocates for the families of family businesses and the issues, they face running their businesses every day. Our sole mission and purpose is to promote family businesses and their job growth in America. We also support the work of Family Business Centers across the country. We hope your family will choose to be a member of FEUSA. Family Enterprise USA is a 501(c)(3) non-profit organization. Family foundations can donate.