Here we are talking about Activity of the Congressional Group is Hoped to Be Beneficial for Family-run Companies in Lake County. Two of the chairman Demetre Selevredes II’s children, who are now critical corporate executives, and two of his grandchildren, who also work there, might be present as he enters Federal Supply USA in Waukegan.
He declared that the fundamental restaurant supply distributor, Selevredes’ father founded more than 91 years ago would continue to be run by him and his offspring for many more generations.
With facilities in four states, including Illinois, it is currently shipping worldwide. It makes me feel proud and accomplished, said Selevredes. “I wish my parents were here to witness this,” said the speaker.
When he and three of his colleagues founded the Congressional Family Business Caucus earlier this month in Washington, D.C., to focus on concerns of generational, family-owned businesses, U.S. Rep. Brad Schneider, D-Highland Park, had Federal Supply in mind as one of the companies.
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59% of the private labor force in the nation is employed by generational family enterprises, which account for around 83 million employment. According to Schneider, just a third of family firms use members of a fourth generation, like Federal Supply, and 10% make it to the third generation.
Schneider claimed that “family companies serve a specific niche.” “They consider how best to serve their clients and the coming generation of their family. They offer our community’s companies a route to prosperity.
Schneider said the caucus is looking for new members and will meet in members’ districts and Washington to hear from businesses and understand their concerns. Schneider, Rep. Jodey Arrington, R-Texas, Rep. Tom O’Halleran, D-Ariz., and Rep. Claudia Tenney, R-New York, founded the group bipartisan.
Owners or managers of other multigenerational family-run businesses in Lake County, such as Kiddles Sports in Lake Forest, Louie’s restaurant in Waukegan, and Supermercado Gonzalez, join Selevredes his daughter in expressing their support for and opinions on the caucus.
The daughter of the founders and co-general manager of Supermercado Gonzalez’s Waukegan site, Adam Carson, said he and his wife Nydia Gonzalez-Carson aim to profit from government policies in the same way that big businesses do.
According to Carson, small businesses that employ 50 or fewer people require the same access to funding as significant firms. The same focused effort is required, whether upgrading a refrigeration system, a roof, or technology.
According to George Patterson, the third generation of his family to run Louie’s after his father, uncles, and grandfather, equal access to cash became crucial when the coronavirus pandemic broke out, changing how restaurants function. Aid is still required.
We are the ones that require assistance, Patterson remarked. “We still required assistance when I took my draw for the PPP (pandemic) financing. The same resources were what we were all vying for. We are attempting to hold on. Now is a tough time to grow.
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