UK Family Business Sector Report

This report draws on a body of research from both private and government sources; it was commissioned by the IFB to highlight the size, scope and breadth of the UK family business sector, bring to the fore the issues which confront family firms and encourage debate on a part of the UK economy that is not always well understood.

Key findings from the report include:  

• Family firms produce over 30% of GDP – a huge contribution to UK plc
• The sector accounts for over 40% of private sector employment, providing jobs to 9.5 million people – one job in three throughout the UK
• The family business sector contributes around £73bn pa in taxes to the Exchequer, or 15% of the Government’s tax revenues
• Family firms account for 65% of the total 4.5 million private sector enterprises in the UK economy
• Family businesses power innovation and enterprise in the UK – firms in the sector act as a crucial breeding ground for entrepreneurial talent and start-ups
• The family business sector is highly competitive with other sectors – family firms have a turnover of over £1000 billion, over double that of the private equity sector, and employ more people in the UK than all FTSE companies combined

The report will aid professionals in their understanding of the unique features of the family business sector and highlight the dimensions that distinguish family firms. It includes statistics on employment, turnover and contribution to GDP as well as strategies which policy makers should consider in order to underpin the ongoing development and growth of family businesses.

Download report.