top of page
Membership
Events
Family Business Insights
News

Subscribe to our newsletter


Latest family business poll from the Institute for Family Business shows family firms more than twice as likely to be trusted than those on the stock market.


Key Findings

  • More than half (55%) say being a family firm is important to business trustworthiness

  • Only 26 per cent say being listed on the stock market is important to business trustworthiness

  • Strong values (88%), heritage (73%) and commitment to local community (71%) key to business trustworthiness

  • Quality of products (94%) and staff (93%) ranked highest

  • Fifty three per cent believe family firms have stronger values than non-family businesses

People are more than twice as likely to trust family businesses as they are a company listed on the stock market, according to a new YouGov poll for the Institute for Family Business (IFB), published today.


Fifty five per cent (55%) of people say being a family firm is important in trustworthiness. Only 26 per cent (26%) say being listed on the stock market is important.


Values are key. Eighty eight per cent (88%) say an important factor for a company to be trusted by them is that it has strong values. Fifty three per cent (53%) say family businesses have stronger values than other companies – only nine per cent (9%) disagreed.


Family businesses employ more than nine million people, contribute over a quarter of UK GDP and pay more than £84 billion in tax. They number some of the largest and most successful companies in the UK, including Clarks, Dyson, Warburtons, Primark, JCB, Speedo, Glenfiddich, Yorkshire Tea, Aunt Bessie’s, Ginsters, Selfridges, Wates and Walkers Shortbread.


The most important factors in business trust are:

  • Quality of products and services (94%)

  • Staff (93%)

  • Value for money (90%)

  • Strong values (88%)

  • Company heritage (73%)

  • Commitment to the local community (71%)

  • Being UK-based (65%)

  • Having won awards for its products/ services (65%)

  • Being a family business (55%)

  • Being owned by the same family for generations (54%)

The survey also found that people recognise that family businesses make an important contribution to the UK economy (71%) and play an important role in creating employment (53%).


Their commitment to looking after their customers also gives family firms an advantage over non-family businesses, with more than half (52%) of consumers recognising that they offer higher standards of customer care – only eight per cent (8%) disagreed.


Responding to the survey’s findings, IFB Director General Mark Hastings said: “Trust is a critical issue for businesses. Family businesses not only score well for trust, but have an advantage over other companies.”


“Strong values are the key to what makes family firms different. Living those values is giving family firms an edge over listed companies. Family businesses pride themselves on carrying strong family values throughout their business practices – maintaining trust is essential when your name is above the door.”

“Britain’s family business sector provides more than nine million jobs and produces a quarter of GDP. They are the backbone of the economy and number many of the UK’s largest and most successful companies. More than seven in ten people agree that family business makes an important contribution to the UK economy.”


“Now is the time for Government and other businesses to work more closely with the sector and help put trust back into business.”

Most Read Articles
Giving Back: Family Business Contributions To The Community
Paul Andrews - Founder & CEO, Family Business United
Stobo Castle Health Spa: A Timeless Journey from Ancestral Estate to World-Class Destination Spa
Paul Andrews - Founder & CEO, Family Business United
UK Autumn Budget 2024 Summary
Paul Andrews - Founder & CEO, Family Business United
Croots Farm Shop Wins Two Accolades
Linda Andrews - Editorial Assistant, Family Business United
Budget Update – Business Property Relief & Family Businesses
Christian Mancier - Gorvins
Executive Pay In Family Business: Striking The Right Balance
David Twiddle - Managing Partner, TWYD & Co
Untitled design copy (8) copy (4) copy-Medium-Quality (1).jpg

Subscribe to our newsletter

SIGN UP AND JOIN NOW!

FBU continues to expand and has a growing membership base around the world. Recognised as THE family business champions we have also gained recognition in both of the Top 100 Global Family Business Influencers list compiled by Family Capital. We are also the VOICE of the family business community, celebrating their contribution throughout the UK and beyond.

sme-capital.png
axiom-logo.png
BM_LOGO_PRIMARY_BLACK_RGB (1).png
western-pension-solution-logo.png
TYWD Logo_Gold & Blue Centered.png
fosters-logo.png
Goodman-Jones-gold-white-v2.png
Birketts_Logo_Strapline_WHITE_on_purple.jpg
Rickard-Luckin.png
Turcan-Connell.png
sme-capital.png
axiom-logo.png
BM_LOGO_PRIMARY_BLACK_RGB (1).png
western-pension-solution-logo.png
TYWD Logo_Gold & Blue Centered.png
fosters-logo.png
Goodman-Jones-gold-white-v2.png
Birketts_Logo_Strapline_WHITE_on_purple.jpg
Rickard-Luckin.png
Turcan-Connell.png
sme-capital.png
axiom-logo.png
BM_LOGO_PRIMARY_BLACK_RGB (1).png
western-pension-solution-logo.png
TYWD Logo_Gold & Blue Centered.png
fosters-logo.png
Goodman-Jones-gold-white-v2.png
Birketts_Logo_Strapline_WHITE_on_purple.jpg
Rickard-Luckin.png
Turcan-Connell.png
Cleenol.png
John-Good.png
6 - Sound Leisure.png
mcalpine-logo.jpg
Potter-Space.png
9 - Bagnalls P&D Passion Logo_Colour.png
ridgeview.png
Malcolm Group Logo Black.png
Walkers-v2.png
JW-Lees-v2.png
Exclusive-Collection-logo-Matte-Black.png
Gap-Group-v2.png
9 - Caribbean Blinds - Logo - Black Background.png
1 - Furniture Village to use.png
Cleenol.png
John-Good.png
6 - Sound Leisure.png
mcalpine-logo.jpg
Potter-Space.png
9 - Bagnalls P&D Passion Logo_Colour.png
ridgeview.png
Malcolm Group Logo Black.png
Walkers-v2.png
JW-Lees-v2.png
Exclusive-Collection-logo-Matte-Black.png
Gap-Group-v2.png
9 - Caribbean Blinds - Logo - Black Background.png
1 - Furniture Village to use.png
Cleenol.png
John-Good.png
6 - Sound Leisure.png
mcalpine-logo.jpg
Potter-Space.png
9 - Bagnalls P&D Passion Logo_Colour.png
ridgeview.png
Malcolm Group Logo Black.png
Walkers-v2.png
JW-Lees-v2.png
Exclusive-Collection-logo-Matte-Black.png
Gap-Group-v2.png
9 - Caribbean Blinds - Logo - Black Background.png
1 - Furniture Village to use.png

Family Business United (‘FBU’) is an unparalleled rallying point and voice for the global family business community and an invaluable source of insight into the sector.  FBU is a resource for all, family businesses of all sizes and sectors, and their advisers, helping to raise the profile of the family business sector and to encourage greater awareness of the contribution that family firms make to the global economy through employment, income generation, wealth creation and charitable endeavours.

At FBU, everything we do is about the family business, creating the best resource available to help families in business get access to the resources and support they need to continue their family business journey, wherever it will take them.

bottom of page