The Financial Affairs Of UK Family Businesses
30th November -0001 Paul Andrews
Survey into the key factors affecting financial and succession planning decisions for family business owners in the UK.
Working with Manchester Business School, our survey into the financial affairs of UK family companies highlights factors that influence key financial and succession planning decisions and draws evidence from 320 owner-managers of private companies, of which 73 percent are family controlled firms.
Family businesses are the backbone of the UK economy and the bedrock for our entrepreneurial development, accounting for over two thirds of all enterprise and about half of the GDP.
Family businesses need to address the financial agenda, encapsulating issues such as ownership and control. The mastering of financial planning – often an integral part of the business transfer and succession process, is paramount to the long-term development of privately held family firms and the prosperity of their owners and/or managing directors.
In a nutshell, this research addresses the following matters:
• how do owner-managers of family companies view their strategic financial development options?
• to what extent does their financial philosophy – often characterised as traditional and introvert – shift in the context of the succession planning process or business transfer?
• what appetite do family firms have for raising private equity?
Download a free copy of the report today that was undertaken by SandAire and Grant Thornton in association with Manchester Business School.