Celebrating and supporting family firms during the cost-of-living crisis
A week-long campaign aimed at highlighting the UK Family Business sector during the height of the cost-of-living crisis will take place this week.
The Institute for Family Business (IFB) will host its annual Family Business Week (FBW 2022), in partnership with NatWest. As businesses across the UK face a difficult winter caused by rising energy prices, the IFB is championing the amazing work family businesses do to foster economic growth and the role they play in shaping the fabric of their local communities and regions.
As part of Family Business Week, which will run from Monday 21 – Friday 25 November, the IFB will work with the Government to ensure that business support is directed towards those organisations at risk from closing as a direct result of the cost-of-living crisis.
The week-long celebration will also include several business events hosted by the IFB, as well as MP visits to family firms and panel discussions around the theme for this year’s FBW. Now more than ever it is important to celebrate family businesses’ place in the world and highlight the vital role that they have played in helping communities rebuild following the pandemic and how they are supporting their local areas during the cost-of-living crisis.
This year’s campaign follows on from the success of Family Business Week 2021, which highlighted the role of family businesses in supporting local communities during the pandemic. Around five million UK family businesses, providing jobs for 14 million people, were the backbone of the economy and the bedrock of as the country went through numerous lockdowns.
Ahead of FBW22, family businesses from across the country will be sharing their stories of how they are supporting their employees and local communities during the cost-of-living crisis. They will showcase the valuable role that family firms are playing to tackle the climate crisis/creating a more energy efficient economy by making their businesses more sustainable and growing the UK economy.
Neil Davy, Chief Executive of the Institute for Family Businesses (IFB) said:
“We are very proud to celebrate family business’s place in the world and illustrate how they are the backbone of local communities and integral to the growth of the economy. We started Family Business Week to highlight the immense role that family businesses played supporting people and communities during the pandemic. However, this year’s campaign is perhaps even more urgent as thousands of family businesses face skyrocketing energy bills and are worried about how they will survive. Family Business Week 2022 is about ensuring the Government realise business support is needed in order for firms to survive the winter months.”
Fiona Graham, Director of External Affairs and Policy, said:
“This winter, family businesses will be doing everything they can to survive, support their staff and help the local community. It is now more important than ever that we celebrate the vital contributions of the family business sector. We also need to make sure they have the necessary help to continue to prosper. Throughout the week, we’ll be showcasing how the sector is supporting the country over the difficult months ahead. The IFB will be providing opportunities for businesses to talk about these issues with political stakeholders at both a local and national level”.