Family Business Manifesto Launched
5th November 2014
Next Government must prioritise more choice and competition in business financing; support sustainable business financing by equalising the treatment of debt and equity finance; and introduce an HR tax credit to promote investment in training, says the new Family Business Manifesto launched today.
The Institute for Family Business, the voice of the UK family business sector, has today launched the UK's first Family Business Manifesto.
Ahead of the 2015 General Election, the IFB is calling on the next Government to work with the family business sector to build sustainable growth for the generations to come.
The manifesto includes 12 policy recommendations under 3 key themes:
- Investing in Britain's future growth
- Building skills for future generations
Mark Hastings, IFB Director General, said:
"Family business is the backbone of our economy, and the bedrock of our communities. There are 3 million family firms in the UK, covering all industry sectors, regions and sizes. The success or failure of these businesses affects the whole economy and the 9.4 million people who are employed by them.
"Family firms outnumber others by two to one - they are the key engine of growth and the barometer of the nation's economic well-being. This manifesto is a call to action for the next Government to work with existing, successful and thriving family firms to build sustainable growth which benefits businesses and communities for the long term.
"The fact that many family businesses own some of the biggest and best loved brands in the country, and that they have been operating for hundreds of years, is testament to their innovative and long term outlook. As parties of all sides of the political spectrum look at ways to rebalance the economy, the family business sector can provide strong examples of how to build responsible businesses with a long term outlook.
"The family business model presents challenges, as well as opportunities. We are therefore also calling on the next Government to commit to ensuring that their policies support thriving businesses in building on their successes for generations to come."