Worcester Business Journal

wbjournal.com | May 13, 2024 | Worcester Business Journal 15 My children should follow in my professional footsteps Massachusetts has the second smallest percentage of family-owned businesses in the country, according to an OnDeck analysis of the U.S. Census Bureau's 2023 Annual Business Survey. The analysis showed 21.87% of Massachusetts businesses are family-owned.The power of family-owned operations is found in the numbers. Research performed by Family Enterprise USA reports 74% of family-owned businesses have been operating for more than 30 years. Even when families don't work together running a business, many professionals hope to see their children following in their career foot- steps, creating a lineage of those in the same profession and fostering the camaraderie that comes with. When polled online, the majority of WBJ readers said they want their children following in their professional footsteps, although most of the respondents said they don't plan on pushing their children too hard. Would you want your children following in your professional footsteps? Yes, I plan on actively preparing at least one of them to go into my field/ work at my organization. F O C U S Member FDIC To learn more, contact: Peter Staiti SVP, Commercial Lending Center Manager 100 Front Street, Worcester, MA 508.769.5725 Peter.Staiti@RocklandTrust.com All loans and lines of credit are subject to credit approval and standard underwriting, which may require collateral and personal guaranties. Other terms and conditions may apply. Inquire with a Banker to learn more. $4,000,000 Line of Credit – Real Estate Redevelopment Worcester, MA $1,072,000 Commercial Real Estate – Owner-Occupied Purchase Maynard, MA $6,000,000 Commercial Real Estate – Property Acquisition Marlborough, MA $3,000,000 SBA 7(a) Term Loan & Line of Credit – Acquisition Financing Sutton, MA Supporting the Future of Worcester County Yes, although I don't plan on pushing them toward any certain career, making sure it's their choice. 9% 42% No, I don't have any specific career path in mind for them. No, I actively discourage them from pursuing my career path. 27% 11% I don't have children, nor do I plan on having any. 10% generations. "It's our customers and our employees and the town workers and all of that. at's something you just can't replace," he said. Conversely, Brian Barrows, third-gen- eration owner of Barrows Hardware in Worcester, doesn't put as much stock into the family-run aspect of his business playing into its longevity. ough he does find being family-run has contrib- uted to the business' success, the main factor in the store's achievements has been its employees, he said. Providing customer service with detailed expertise while building relationships with locals are values going back to the days when his father, Bob Barrows, and uncle, Gary Keefe, ran Barrows Hardware. "ey built the foundation of the busi- ness that we have here now. It was their great commitment, their great business practices, and strong work ethic, and a real commitment to Webster Square," Brian Barrows said. "at's it, we still do things that way." Barrows' workers have a deep knowl- edge of the products and services the store provides and are dedicated to guid- ing customers to achievable solutions, and that's what separates his hardware store from big-box retailers, he said. Bar- rows likened the business' commitment to helping its customers to community service, going above and beyond no matter the project size. For Bri's Sweet Treats, being fami- ly-owned is not inconsequential to the business' success. In fact, Briana "Bri" Azier, CEO and owner of the sweets shop, has made sure to make this aspect of her company known to any and all who will hear it. ere's a market of customers spe- cifically looking to spend their money on small, family-owned businesses, said Azier, and she's determined to find them. "We wanted to make sure people know we are family-run. We want to make sure that people know when you support us, you are literally helping us to pay our bills," Azier said. "It means something, but it only means something if you tell people that." Family matters When Azier told friends she was going into business with her husband, they thought she was crazy, but working with her husband has only accelerated her business' success, she said. "When people hear that we work together, they think, in the same room doing the same thing, butting heads, hating life, 24/7," said Azier. ose preconceived notions couldn't be farther from the truth. "I hardly see my husband, believe it or not, because we have literally taken Pat Casey, owner of Casey's Diner, is making changes and advancements to the family eatery to avoid playing catch up: "At some point, you're either gonna move forward or fall behind." PHOTO | MICA KANNER-MASCOLO Continued on next page

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