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The UK Family Business Sector
An Institute for Family Business report by Capital Economics
February 2008
Foreword
February 2008
Our aim in commissioning this report is to highlight the size, scope and breadth of the UK family business sector. This report, which was produced by Capital Economics, will encourage debate on a part of the UK economy that is not always well understood. The report aims to spotlight issues that family firms face, as well as strategies that policy makers should consider in order to underpin the ongoing development and growth of the sector. The UK economy draws strength from the breadth and diversity of entrepreneurial activity nationally; as the report confirms, family firms are a key component of the private sector, helping drive the creation of wealth and deliver benefits for society through employment and the support that family firms provide to our local communities.
The content of the report draws on the body of research on family firms that the IFB has identified from both private and government sources. We trust that the report will provide policy makers and other stakeholders with valuable insights into the sector.
Grant Gordon
Director General
About IFB
The Institute for Family Business was established in 2001 as an independent, not-for-profit organisation supporting a dynamic family-owned business sector in the UK through advocacy, education and research.
IFB Advocacy promotes greater awareness of the sector and highlights policy areas that are of special importance in underpinning the growth and entrepreneurial development of family firms. IFB Education, which includes our national conference, seminars and educational events, offers programmes that seek to increase understanding with respect to the unique challenges and opportunities that family firms face. The association is the UK chapter of FBN International. www.ifb.org.uk The UK Family Business Sector
Contents
Executive Summary
An Institute for Family Business report by Capital Economics
February 2008
Foreword
February 2008
Our aim in commissioning this report is to highlight the size, scope and breadth of the UK family business sector. This report, which was produced by Capital Economics, will encourage debate on a part of the UK economy that is not always well understood. The report aims to spotlight issues that family firms face, as well as strategies that policy makers should consider in order to underpin the ongoing development and growth of the sector. The UK economy draws strength from the breadth and diversity of entrepreneurial activity nationally; as the report confirms, family firms are a key component of the private sector, helping drive the creation of wealth and deliver benefits for society through employment and the support that family firms provide to our local communities.
The content of the report draws on the body of research on family firms that the IFB has identified from both private and government sources. We trust that the report will provide policy makers and other stakeholders with valuable insights into the sector.
Grant Gordon
Director General
About IFB
The Institute for Family Business was established in 2001 as an independent, not-for-profit organisation supporting a dynamic family-owned business sector in the UK through advocacy, education and research.
IFB Advocacy promotes greater awareness of the sector and highlights policy areas that are of special importance in underpinning the growth and entrepreneurial development of family firms. IFB Education, which includes our national conference, seminars and educational events, offers programmes that seek to increase understanding with respect to the unique challenges and opportunities that family firms face. The association is the UK chapter of FBN International. www.ifb.org.uk The UK Family Business Sector
Contents
Executive Summary