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.
Family Business UK’s Annual Conference for 2024 – The Faces of Family Business – is now open for registrations. Taking place in London from the 5th to 7th June 2024, the Conference will focus on how family businesses can harness the power of people to help create and sustain competitive advantage. One of the unique […]
Fiona Graham, Director of External Affairs and Policy at Family Business UK said; “The Chancellor and Prime Minister have this week both been talking about making decisions for the long-term. And while there was good news for business in the statement around full expensing, there is still much more to be done”. “The full expensing […]
The Family Business UK Manifesto: Taking the Long-Term View, Policies to Unleash the Potential of the UK Family Business sector. Ahead of the upcoming General Election this manifesto represents our offer to policymakers, informed by the UK’s family business community and their everyday experience of doing business. These cover what we see as the big […]
The Family Business UK Manifesto – Taking the Long-Term View which lists “policies to unleash the potential of the UK family business sector” has received support from business leaders from Rigby Group, Samworth Brothers, Wates Group and ARCO, amongst others. Published today, the Manifesto sets out a list of key policy recommendations that can provide […]
Family businesses generated more than a quarter of the UK tax bill in 2021, new research can reveal. The research published today by the Family Business Research Foundation and PwC UK reveals how much the UK’s family businesses are contributing in tax receipts. This is the first report of its kind, exploring in depth the […]
Responding to reports Labour intend to scrap Inheritance Tax Business Relief, Neil Davy, CEO of Family Business UK, said: “Such a move would quite simply have a catastrophic impact on the family business sector, which employs 14 million people in the UK”. “Business Property Relief (BPR) – now known as Business Relief – was specifically […]
Family Business UK, along with four other business organisations, has called on the Prime Minister to expand his new Business Council to ensure it better represents the UK business community. In a joint letter Family Business UK, the Federation of Small Businesses, IPSE, Small Business Britain and the Employee Ownership Association said the new Business […]
Steve Rigby, Co-CEO Rigby Group joins Family Business UK Board We are delighted to announce the appointment of prominent Midlands and UK Family business leader Steve Rigby of Rigby Group plc to the Board of Family Business UK. Steve is responsible for leading strategy, finance & investments for the family in both the private and public markets, and has […]