The Annual Family Business Survey 2016

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