As an organisation Family Business United (‘FBU’) is all about championing the significant contribution made by family firms through income generation, employment and wealth creation, not forgetting their contribution to the communities in which they operate. Our purpose is to raise the profile of family firms and to dispel the myths around them, recognising them for the impact that they make daily on a local, regional, national, and in some cases, international level.
Family Business MATTERS is the latest campaign launched by FBU to make people realise the impact of the sector. The facts and figures show their importance.
Did you know?
- It is estimated that family businesses in the UK generate around £2.0 trillion in turnover annually (1)
- Family businesses are significant employers, employing around 14 million people (1)
- Family businesses represent around 86% of all private sector employees (1)
- There are around 5 million family firms in the UK today (1)
- Family firms employ around 51% of the private sector workforce in the UK today (1)
- In 2019, family businesses contributed £637 billion to UK GDP (1)
- Family businesses in the UK generate around one third of UK GDP (1)
- The Top 100 family firms in Scotland generate revenue of around £20 billion annually (2)
- The Top 100 Scottish family firms employ over 112,000 people (2)
- The oldest family firm in the UK is RJ Balson & Sons who are based in Bridport and date back to 1515 (3)
- The oldest family firm in Scotland is John White & Sons who are based in Auchtermuchty and date back to 1715 (4)
- The top ten UK family firms generate annual turnover of £49 billion
- Some of the largest family firms in the UK include JCB, Arnold Clark, Euro Garages and Pentland Brands
- Britain’s Top 100 family businesses now employ over 750,000 people (5)
- Britain’s Top 100 family businesses are all very substantial enterprises with an annual turnover of at least £500m (5)
Family firms really are the engine room of the UK economy and that is why Family Business Matters!
- Note 1 – Source: The UK Family Business Sector Report 2020-21
- Note 2 – Source: Family Business United Research, The Top 100 Scottish Family Firms
- Note 3 – Source: Family Business United Research, The UK’s Oldest Family Firms
- Note 4 – Source: Family Business United Research, Scotland’s Oldest Family Firms
- Note 5 – Source: Boodle Hatfield Report, The Third Pillar of the UK Economy