The Annual Family Business Survey 2016 Access & barriers to funding for growth
The results are in... A national survey of family businesses across the length and breadth of Britain identifying their growth plans for the future
Proudly supported by:
30
Almost half have been going for more than
30 years ÂŁ 1, 0 0 0, 0 0 0
66
turnover more than % one million pounds
10
nearly % have opened offices overseas
third
A are now in their third generation or beyond
45
%
export their goods & services around the world
food & the beverage industry leads the way, with 1/4 family businesses
75% of family firms hold at least
75%
of the shares within the family
10 % only
have a formal governance structure in place...
25% ...but
are working on it!
a quarter employ 100+ people
1
3
scarily, only have a succession or exit plan in place
75%
have a formal board of directors
third
a have embraced non executive directors
SALE
42%
would sell if the price was right, down 19% from 2014
half
of these have nonover family members on the board
25
% of these are over family members
90
of the biggest challenges, % were business concerns, not family ones
90
25%
% have experience working outside of the family business
say challenges with the next generation are the most difficult thing
half
now think their professional advisors understand their unique challenges
71
%
are regularly involved with charitable causes
How will leaving the EU affect your family firm?
12% positively
23% negatively 65% no idea yet! 36% are investing
the No.1 barrier to securing funding is excessive and time-consuming paperwork
their new funding into premises, equipment & improving infrastructure
over two thirds of business owners have a formal business plan
30
% say over access to funding has become harder since 2008
Funding sources for growth less than
10%
bank overdraft
23% 36% 63% asset finance
bank loan
self generated sales
Between 1 September and 31 October 2016 we surveyed 142 family-owned businesses. All respondents were either owners, leaders, directors or senior management of family firms. Respondents came from all over the UK including Scotland, Wales and Northern Ireland.
less than
5%
venture capitalist/ angel