INTRODUCTION
Key Findings Only
27% With around 5 million family businesses in the UK today employing around 12 million people* it is easy to see why family firms are referred to as the engine room of the UK economy.
We often hear from family business owners that
Family businesses operate in all sectors and in all
The 2019 Family Business Survey not only
corners of the UK, some firms larger than others,
sought to find out what keeps family business
some new whilst others have been around
owners awake at night but also looked at
for generations. They have a daily impact on
some specific areas of concern in more detail:
the way we live our lives, from the milk for our
productivity, purpose, legacy and governance.
breakfast, to the way we travel to work, how we
Collectively, we wanted to give family businesses
keep fit and the way that we are entertained.
a voice, to understand the state of the family
They help shape the nation creating income,
business nation and to better appreciate the
wealth and employment across the country.
concerns of this rich, vibrant, diverse sector of
Having said that, family firms are unique, partly
they feel alone in contemplating the way forward
have a documented succession plan in place
Three quarters of family firms have thought about their family business legacy
and how to manage their business, yet we also know that shared insights and knowledge are a great way to learn. So what are the challenges and what is the pulse of the family business community across the UK?
the economy.
because of the way they are owned, but also
Family businesses are really important to the
as a result of the way they are managed, the
economy, nationally but also regionally and the
way decisions are made and the culture that
findings from the survey will help in determining
they create. Very much part of the fabric of the
the family business agenda and shaping the
communities in which they exist, family firms also
development of events and resources to help
face unique challenges and we wanted to use
them deal with their challenges too.
this survey as a way to better understand the agenda for family businesses today.
85% Facebook is the most popular digital marketing platform for family firms
Lack of senior management time is the biggest barrier to productivity
Being a family business aids recruitment of staff 90% of family firms are driven to create profitable and sustainable businesses
Being a family firm gives competitive advantage
* Source - The State Of The Nation - The UK Family Business Sector 2017–18, the IFB Research Foundation Report prepared by Oxford Economics
2 | The Family Business Survey 2019
The Family Business Survey 2019 | 3
