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Family businesses are the backbone of the UK economy and the bedrock of our communities. For generations, family businesses have put people at the heart of business. They offer a model of sustainable and responsible business that others can learn from, be part of, work with, and even adopt.

Family business leaders inherently put the interests of the next generation in mind, take a long-term view, and as the owners and stewards of the business, have greater freedom to experiment, innovate, and invest in their people and communities. They see the values people bring to the organisation as an important asset to be protected and nurtured.

The attributes of Family Business

  • Family businesses put people first;
  • See values as an asset to be protected and nurtured;
  • Have greater freedom to experiment and innovate;
  • Take a long-term view;
  • Put the interests of the next generation at the heart of business.

These attributes are essential for building resilience and long-term economic growth, and form a significant part of what distinguishes family business from many other models of business ownership.

 


The UK Family Business Sector

In the UK, 90% of all private firms are family businesses. That’s 4.8 million businesses.

They employ 13.9 million people, generate £1.7 trillion in turnover, and contribute £575 billion gross value added (GVA) to UK GDP.

Family businesses contribute over £200 billion to the UK Exchequer through tax receipts alone, which is over a quarter (26%) of the government’s total receipts.

For more information about FBUK and the UK family business sector Contact the Press office

[Source: IFB Research Foundation State of the Nation report 2021 – 22, analysis of data from BEIS, Oxford Economics, PWC and ONS]

[Source: IFB Research Foundation State of the Nation report 2020 –2021, analysis of data from Chittenden and Sloan, ONS, PwC, BEIS and Oxford Economics]

Family Business sector stats 2024

 

SELECT A REGION

In Scotland, 83.9% of businesses are family firms.

That means there are 286,805 family firms, who together employ 874,000 people.

In Northern Ireland, 84.1% of businesses are family firms.

That means there are 103,899 family firms, who together employ 318,000 people.

In the North West of England, 87.7% of businesses are family firms.

That means there are 462,631 family businesses, who together employ over 1.1 million people.

In the North East of England, 79.8% of businesses are family firms.

That means there are 122,936 family firms, who together employ 392,000 people.

In Yorkshire, 88.4% of businesses are family firms.

That means there are 365,311 family businesses, who together employ over one million people.

In Wales, 89.1% of businesses are family firms.

That means there are 184,818 family firms, who together employ over half a million people.

In the West Midlands, 86.8% of businesses are family firms.

That means there are 386,839 family businesses, who together employ over 1.1 million people.

In the East Midlands, 90.6% of businesses are family firms.

This is the highest concentration of family firms in the UK.

That means there are 332,688 family businesses, who together employ over one million people.

In the South West of England, 87% of business are family firms.

That means there are 454,534 family businesses, who together employ almost 1.4 million people.

In the East of England, 88.3% of businesses are family firms.

That means there are 501,371 family businesses, who together employ almost 1.5 million people.

In London, 82% of business are family firms.

That means there are 854,270 family businesses, who together employ 2.4 million people.

In the South East of England, 85.3% of businesses are family firms.

That means there are 746,768 family businesses who together employ over 2 million people.

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