Why Family Business?

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.



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.

[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]


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