Login / Register
IFB Institute for Family Business
  • Login / Register
  • 020 7630 6250
  • info@ifb.org.uk
  • About Us
    • How We Help
    • International Network
    • IFB Research Foundation
    • Partners
    • Meet The Team
    • Contact us
  • Membership
    • Join Us
    • Next Generation
    • Now Gen Forum
    • Enterprising Families Forum
    • Internships
    • Webinars
  • Events
  • Advice
    • For Owners
    • For Managers
    • For Next Generation
  • News
    • Request for Research Proposals: The Community Impact of Family Business
  • Advocacy
    • Representation
    • APPG Family Business
    • About Family Business
  • Media
  • Research
    • IFB Research Foundation
    • Family Business Challenges
    • About Family Business
    • Case Studies
    • Publications
  • Conference
    • Programme
    • Learning Journeys
    • Speakers
    • Venues
    • Delegate Rates
    • Terms and Conditions
    • Register Now
  • Media
  • IFB Calls On Next Government To Back Family Business

IFB Calls On Next Government To Back Family Business

11th May 2017

Political parties seeking election on 8 June should champion the long term outlook of family business by adopting five policies which would support the growth of successful enterprises for generations to come. 

In its submission to manifesto teams, Institute for Family Business (IFB) proposes a five point plan including measures to support business transfer, export growth, access to finance, responsible business practice and boosting skills. 

Whilst governments of different colours come and go, the core values of family businesses - sustainability, custodianship and long termism – last for generations.  Policies that support long term growth give family firms the opportunity to invest in training their employees, and to innovate and develop new products, processes and services.

IFB Executive Director Elizabeth Bagger said:

“Family business is the backbone of our economy, and the bedrock of our communities.  During the next few years, family business can provide much-needed stability and a long term perspective to the economy – but only if Government supports this with policies which allow family firms to plan and invest for the future.”

 

IFB’S RECOMMENDATIONS INCLUDE:

  1. Support long term growth and the successful transfer of family businesses

Transition in the management or ownership of family firms is a time of significant opportunity and also challenge.  The next Government must support firms through this period with tax and regulatory policies which encourage continued growth and investment.  

  1. Help more family firms take the first steps into export

Family businesses often want to move into export, but many face barriers to doing so.  The next Government should commit to developing tailored advice and support for family SMEs. 

  1. Investing in family business growth

A fundamental check on the growth of family businesses is the availability of finance.  The next Government should tackle barriers to finance and review the disparity in the tax treatment of debt and equity financing. 

  1. Champion responsible family businesses

High profile failings have damaged trust in business.  Family business owners consider themselves stewards, feeling responsibility not only to future generations but to employees, and their community.  The next Government should work with family firms to share this best practice and promote culture change. 

  1. Ensure family firms have the skills they need to grow

Family businesses are ambitious to grow and innovate.  The next Government must ensure that our education, training and immigration systems reflect business needs.

 

For more information, contact Fiona Graham fiona.graham@ifb.org.uk 

Tweet
 

Similar Articles

IFB Responds to BEIS Department Industrial Strategy Consultation

budget.png (1)

The Institute for Family Business (IFB) has made a submission to the Department of Business, Energy and Industrial Strategy in response to the ongoing industrial strategy consultation.

IFB Responds to BEIS Select Committee Corporate Governance Report

budget.png (2)

The Business, Energy and Industrial Strategy Select Committee has today published its report on Corporate Governance in UK business.

  • Membership
  • Advocacy
  • Terms and Conditions
  • Accessibility
  • Copyright
  • Twitter
  • LinkedIn
  • Youtube
  • Associate Partner Badge

Proud members of Family Business Network International (FBNi) and European Family Businesses (EFB)

Copyright © 2017 Institute For Family Business. All rights reserved.

Company number: 4258666 Registered office: Institute For Family Business (UK), 22-24 Buckingham Palace Road, London, SW1W 0QP

  • Contact us