Scottish family businesses are the engine room of the Scottish economy with many of them having been around for generations. Recent studies have shown that around 65% of all private businesses in the UK are family controlled and that family firms account for around 25% of UK GDP, over 45% of all UK employment and create significant wealth too.
As Paul Andrews, Founder of Family Business United, the organisation behind Scottish Family Business Day explains, “There are over 6 million family firms in the UK today with Scotland well represented and they really are the backbone of the Scottish economy. The contribution made by the family business sector in Scotland deserves to be recognised and the aim of Scottish Family Business Day is to champion the sector, put family firms on the map and in light of the year we have all just been through, provide a sense of community, shared purpose and positivity for the future. Undoubtedly, as the nation starts to recover from the effects of the pandemic, family firms will have a vital role to play and be integral to the recovery across Scotland.”
“Our most recent research quantifies the scale of the contribution too, with the Top 100 Scottish Family Businesses generating £20 billion turnover, £1 billion in profit before tax and employing over 112,000 people annually. The impact of these firms on communities across Scotland is really significant, as is their contribution to the local, region and national economies of Scotland,” concludes Paul.
Scottish Family Business Day 2021 is taking place on February 3 and a marketing pack has been produced for anyone wanting to take part which includes social media tiles and suggested posts. Family firms across Scotland are encouraged to share posts on social media that relate to their business using the hashtag #ScottishFamilyBizDay. Find out more about the support tools available here
As Paul concludes, “We are looking to the future and hopefully Scottish Family Business Day 2021 will be a chance to focus on the future, the next stages in the economic recovery after the pandemic, and an opportunity to celebrate and recognise the contribution family businesses have made over the past year, their resilience in adapting to everything that has been, and continues to be thrown at them, and to be optimistic about the future of the sector too. Family firms are the backbone of the Scottish economy and will remain so for generations to come.”
“We look forward to continuing to champion their cause on February 3.”