We’ve been out and about recently talking to Family Businesses of all size and age – the common theme is that they are really focused and tend to quietly get on with doing really good stuff. If asked ‘do you celebrate being a Family Business’? The answer is usually NO – that’s not what we do, it wouldn’t seem appropriate to ‘flag wave’’. Well let me tell you family businesses are essential to Local, Regional and National economies…. let’s have a look at some of those UK Family Business Facts and Stats……. courtesy of the IFB and Oxford Economics.
- The vast majority of businesses in the UK are family run … In 2015 there were 7 million in the UK, (UP 3% on 2014).
- They make up 87% of all private sector businesses in the UK. Small family businesses dominate, comprising more than 97% of the total.
- Family businesses employed 2 million people in 2015.
- They provide 36 per cent of the UK’s jobs and close to half of the jobs in the private sector.
- Family businesses earned £1.4 trillion in 2015, UP 6% from 2014.
- They generated a £460 billion to UK GDP. This was 36% of the entire private sector’s
- Family-run businesses’ gross value added was £43 billion, UP 10% on the previous year, driven by increases in activity in real estate, professional and business services, wholesale and retail.
- Some 52% of the contribution of family businesses to UK GDP in 2015 was made by firms with fewer than 10 employees.
- Family businesses collected or paid nearly £133 billion to the Exchequer in 2015, including corporation tax, business rates, employee and employer national insurance contributions, and income taxes. 6% HIGHER than the previous year.
Family businesses are individually BRILLIANT and collectively AWESOME, so if you ever thought you had no flag to wave think again! Whether your 1, 10, 40 or 150 years old, they are all key milestone’s and you will have positively impacted many people along the way, your customers, your suppliers, your fabulous teams – so why not celebrate. Take a look at Family Business conferences and Awards in your region – attend the Cumbrian Family Business Conference open to all Family Businesses not just Cumbria! Enter regional and national awards such as the Cumbria Family Business Awards. Go on it’s time to wave the Family Business Flag! If you’re planning a celebration, we’d love to come!
Time to wave that FLAG…