The Family Business UK Magazine. Featuring an interview with Sir John Timpson CBE, inheritance tax insights from Europe and Sweden and a look ahead to the Autumn Budget 2025.
FBUK The Family Business UK Magazine – September 2026
ALSO IN THIS ISSUE
Britain’s missing middle
The great survivors
Stewardship and growth
TACKLING UNEMPLOYMENT TAX ROBOTS NOT HUMANS
Honours and awards // Anniversaries // Community
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Welcome from FBUK CEO
your diary for the remainder of 2026 and beyond, including a save-the- date for our 2027 Annual Conference in Edinburgh, following our biggest ever conference held at the Kia Oval in June. Thank you for your continued support of Family Business UK. I hope you enjoy this edition and look forward to seeing many of you at our events in the months ahead.
and support their communities, something family business have been doing for generations, often without recognition. A key part of FBUK’s response is a renewed call for the Government to restore Business Property Relief in full for family businesses. Doing so would unlock investment, support long-term growth and jobs, and help the Government achieve its ambitions while addressing concerns around avoidance. The case for backing family businesses is reinforced by new research commissioned by FBUK with the ScaleUp Institute. The findings provide fresh insight into where family businesses operate, the contribution they make across the UK and the barriers holding back their growth. You can read more about that in this edition, alongside features exploring the role of stewardship in family firms, and how family businesses are adopting AI to boost productivity while keeping people at the heart of their organisations. We’re also shining a spotlight on more FBUK Members and the outstanding work they do in businesses and communities across the country. You’ll find key dates for
Neil Davy CEO of Family Business UK
Neil Davy CEO Family Business UK
We’ve welcomed yet another new prime minister and a fresh administration in Downing Street, bringing with it a renewed focus on growth, investment and business confidence. I was pleased to meet with Andy Burnham in his first week in No. 10, where he presented a new offer to businesses: to “bring down costs… and use the power of Government to back British business [and] give firms the backing they need to reindustrialise Britain”. In return, he’s asking businesses to invest in people
CREDITS:
The FBUK Magazine is designed and printed by Linney.
If you have news about your family business, an idea for a topic we should cover or are interested in advertising your brand, product or services in the FBUK Magazine, please email press@familybusinessuk.org
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Contents
Matthew Jaffa Policy and Public Affairs Director
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Welcome from FBUK CEO
The missing middle
FBUK new Members
Too often, policymakers have blind spots. As a sector, family businesses are a case in point and mid-market, scale-up family businesses particularly so. At the start of the year, we began a project with the ScaleUp Institute to address this through a granular analysis of this segment of the family business sector. This ground-breaking research has, for the first time, identified family firms that are both scaling (a business growing either turnover or headcount by 20% a year for three years) and mid-market (firms with between 50 and 499 employees and/or a turnover of £10 million to £100 million) – laying out just how critical they are to the UK economy. There are almost 10,000 such family businesses in the UK. They are regional powerhouses, with 90% outside London and 70% outside London and the South East. Together they contribute more than £140 billion to the UK economy and employ over 900,000 people. Scaling family businesses alone generate £72 billion in economic value and support more than 500,000 jobs across the country. We chose to launch our new report – Family Business Scale-Ups: Breaking Barriers to Growth – at a ministerial meeting at the Department for
The importance of community
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FBUK Annual Conference
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FBUK Member honours and awards
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James Reed - back humans, tax robots!
Mark Goyder – stewardship and responsibility
FBUK Corporate Partners
Mid-market Member comment
20 Mid-market: NatWest 22 FBUK Communities
23 175 years of Melton Mowbray Pies 24 Member anniversary – Linney 175 25 Member anniversary – St Austell Brewery 175 26 Tercentenarians – the great survivors 28 Future leaders
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The missing middle Supporting mid-market, scale-up family businesses
corporates. Government policy must better recognise and support this critical, and often forgotten, mid- market sector and address a clear set of challenges: • Barriers to accessing domestic and international markets; • Difficulties securing the skills needed to grow; and • Financial products that are often designed around ownership dilution or exit rather than the long-term growth ambitions of family-owned firms. While SME and scale-up policies provide support in some areas, neither fully address the breadth of challenges facing this group.
The new Government, led by Andy Burnham, has made a clear case for creating growth – devolving more power to the regions and empowering local mayors to administer strategies to deliver it. That will only be achieved by working with, not against, the family businesses that make up those
Business and Trade, hosted by Blair McDougall MP, to impose on Government the critical nature of the sector and highlight the policy recommendations we make.
You can read the views of FBUK Members, Matthew Ayres, from
regional economies and are the embodiment of good growth.
Bennie Group, and Sarah Naghshineh, from RCP Parking, who both attended the roundtable referenced in this magazine. You can also read the view of Andy Gray, of FBUK Partner, Natwest, which has led the charge on the mid-market agenda. The reality is that mid-market, fast- growing family businesses are being failed by a policy landscape that is heavily designed for two ends of the spectrum: small start-ups and large
This means the Government pursuing policies that: encourage job creation; remove barriers to markets; expand access to appropriate sources of finance; maintain a competitive tax environment that rewards long-term investment – including the full reversal of the changes to Inheritance Tax; and recognise that who owns the business really matters.
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Regular Cleaning Regular Cleaning is an award-winning, family- owned commercial cleaning company with over 55 years of experience supporting clients across London. Founded in 1969, the company has grown to a team of more than 1,300 colleagues, delivering high-quality, tailored cleaning and support services across offices, mixed-use developments and specialist environments. Driven by a clear purpose – to create better places for everyone, every day – Regular Cleaning combines its heritage with a forward-thinking
approach focused on innovation, sustainability and service excellence. Sustainability is central to operations, with initiatives including zero-to- landfill commitments, an all-electric fleet and partnerships that support global clean water projects. At its core is a strong people-first culture, ensuring colleagues are fairly paid, well-supported and empowered to deliver consistent, high standards. This approach enables Regular Cleaning to build long-term partnerships and create cleaner, more sustainable environments for every client.
Barton Petroleum
customers, whether they are households relying on heating oil or businesses seeking reliable fuel and lubricant solutions. Barton’s commitment to excellent service remains at the forefront of everything it does, allowing it to build lasting relationships in the community. As Barton Petroleum approaches its 55th anniversary, the family are thrilled to see their legacy continue with two of the founder’s grandchildren actively working in the company, embodying the values and traditions that have passed down through the generations.
Barton Petroleum is a third-generation fuel, AdBlue, and lubricant distribution business. Originating in Northamptonshire, Barton’s story begins in the family living room with just one tanker. Over the years, it has grown to an impressive fleet of over 50 tankers today. Those humble beginnings laid the foundations for a flourishing business, built on hard work, dedication, and a commitment to quality service. Today, Barton’s five depots are strategically located to ensure they meet the diverse needs of its
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Lindum Group Ltd Founded in 1956 by civil engineer John F. Chambers, Lindum has grown from a small Lincoln-based business into one of the UK’s largest employee-owned construction companies, while remaining true to its family roots. Now led by third-generation Co-Chairs, Freddie and Edward Chambers, the business employs around 620 people across offices in Lincoln, York and Peterborough, delivering construction and specialist services through 12 trading divisions.
a culture where everyone is invested in delivering quality, value and long-term relationships. Lindum measures success not simply by financial performance, but by customer satisfaction and repeat business, underpinned by openness, practical problem-solving and collaborative working. Operating across the East Midlands, Yorkshire and East Anglia, Lindum combines regional delivery with strong financial stability, a commitment to sustainability and ongoing investment in its people, communities and the future of the business.
Being partly employee-owned since 1994, with more than 500 employees as shareholders, creates
The Finishing Line Founded in 1987 by Andy Mead, The Finishing Line is a dynamic supply-chain specialist delivering core 3PL services including contract packing, warehouse management, ecommerce fulfilment, value-added services and returns management. Today, it dispatches over one million hand-fulfilled and contract-packed items every week, supporting brands that require accuracy, reliability and scalable operations.
Finishing Line supports businesses of all sizes with efficient inventory management, tailored packing solutions and seamless order fulfilment. Its customer-focused approach ensures products are handled with care from receipt through to final delivery. Andy’s son Drew is part of the next generation driving the business forward in his role as Finance Director, building on the company’s strong family values and decades of operational expertise to help customers strengthen their supply chains and scale with confidence.
With a strategically located warehouse facility and strong links to major transport networks, the
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Putting community at the heart of business
Angela Turley AV Dawson
quarterly funding awards. Named after Gary’s late father, the fund provides up to £1,000 every quarter, ensuring the company’s community investment remains personal, purposeful and driven by the people who know local needs best. In June, Gary and his son Freddie completed the Rallye du Soleil in support of Teesside Hospice, raising almost £3,000. Later this year, Gary will join our Deputy Chairman John Young (pictured) and 11 other business leaders from Teesside on a fundraising trek along the Great Wall of China in aid of Daisy Chain. AV Dawson is a business that sits at the heart of the industrial North East. They believe passionately that successful businesses have a responsibility to help the communities around them thrive. By investing time, expertise and resources locally, they hope to strengthen the region they call home. If you would like to support Gary’s Great Wall of China trek, scan the QR code.
Dawson Group like family – whether you are a customer, supplier, colleague or friend of the business. We also invest in education and sport, supporting local clubs while working with students from primary school through to university. We regularly visit schools, host workplace tours and engage with young people to showcase career opportunities and inspire the next generation of talent. That support extends far beyond financial contributions. Volunteering remains a cornerstone of our work. Everyone at AV Dawson is encouraged to use volunteering days to support causes that matter to them and contribute directly to their local communities.
For AV Dawson, community is not simply a corporate responsibility initiative – it is part of our identity. With deep roots in Teesside and a proud heritage spanning almost nine decades, giving back is woven into our purpose, honouring the past, supporting the present and inspiring future generations. Founded in Middlesbrough, AV Dawson has built a longstanding reputation for supporting charities, schools, sports clubs and community groups across Teesside. Among them are Teesside Hospice, Middlesbrough Football Club Foundation, Middlesbrough Rugby Club and High Tide. A very practical example of how we support charities and community groups like these is by opening our conference suite and meeting rooms to them – free of charge – one day a week, providing valuable space to meet, collaborate and plan activities that benefit local people.
Gary Dawson says:
Giving back our time is just as important as giving financially.
Our colleagues gain a real sense of achievement from volunteering and build meaningful connections with organisations across the region. We also support groups practically, offering health and safety advice, HR guidance and operational best practice where we can make a difference. Since 2021, the Maurice Dawson Fund has enabled colleagues to nominate causes close to their hearts for
AV Dawson Group Chairman Gary Dawson said:
We’ve always believed in supporting our local community, whether that’s through funding, volunteering our time or sharing our expertise. With ‘Family’ being one of our values, we treat everybody associated with the AV
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AV Dawson’s Port of Middlesbrough is more than just a port. We are a values-led, innovative multi-modal transport provider with a proven track record in delivering efficient, flexible and cost-effective solutions across sea, rail, road, and warehousing.
As a family run business with over 80 years’ of experience, we understand the challenges of supply chains and offer seamless, end-to-end freight solutions to help your business move goods more efficiently. Whether you require secure storage, multimodal transport, or expert cargo handling, our strategic location, state-of-the-art facilities and experienced team ensure your operations run smoothly. We can save you time and money whilst providing you with peace of mind.
We proudly partner with major global brands across automotive, agriculture, construction, defence, energy, waste, renewables and bulk commodities. With a strong focus on safety, efficiency and sustainability, we can help your business reduce costs, streamline operations and lower your environmental impact. We care about your business and are committed to going the extra mile for your success.
More than just a port, we’re your logistics partner.
Best Places to Work 2025 MEDIUM ORGANISATION
www.portofmiddlesbrough.com
Looking back at Annual Conference 2026, we’re proud to celebrate a standout moment in FBUK’s 25-year journey championing the unique power of family enterprise. Under the theme Legacy Meets Leadership, this landmark event brought together visionary founders, next-generation leaders and sector pioneers to share ideas, build connections and explore how family businesses and private firms can shape the future through economic growth, innovation, technology and social responsibility. Annual Conference 2026
Tickets on sale: 1 October
(Conference 2026 images)
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Honours and awards
agency, secured the King’s Award for international trade, recognising the company’s outstanding international growth. Overseas sales account for 90% of Argus Media’s turnover with the business employing 1,500 people in 30 offices around the world. Chairman and Chief Executive of Argus Media Adrian Binks said: “Our goal as a business has always been to democratise information across the globe, levelling playing fields to facilitate trade and international prosperity. We are proud to receive this renewed recognition of our commitment to internationally traded markets.”
Two outstanding leaders and FBUK Members have been recognised in this year’s King’s Birthday Honours List, each appointed as a Commander of the Order of the British Empire.
AW Hainsworth
AW Hainsworth has been at the heart of West Yorkshire’s textile industry for more than 240 years, producing the finest woollen fabrics. But it is the company’s developments in PPE materials used by firefighters that has secured the King’s Award for innovation. ECO-DRY fabric, developed by AW Hainsworth, is now worn by 70% of wildland firefighters in Australia. Amanda McLaren, Managing Director at AW Hainsworth, said: “With fire seasons across Australia growing longer and more volatile in nature, the demand for appropriate, reliable PPE is rising rapidly. Our Yorkshire mill remains committed to supporting emergency services with materials that combine British craft, technical excellence and uncompromising safety.”
Diana Brightmore-Armour CBE
Walker’s Shortbread
Diana Brightmore-Armour, who served as CEO at C. Hoare & Co. for more than six years, has been appointed CBE for services to women and diversity in financial services.
Walker’s Shortbread has been recognised for excellence in quality, innovation and export performance for the fifth time by the King’s Awards, having previously been honoured with four Queen’s Awards. Founded by Joseph Walker in 1898 with a simple mission to bake “the world’s finest shortbread”, the company’s products are sold in almost 100 countries worldwide.
Nicky Walker, Managing Director at Walker’s Shortbread, said:
As a family-run business from the heart of the Highlands with a longstanding Scottish heritage, we are extremely proud to receive the King’s Award and this most prestigious recognition. It is a testament to the unwavering dedication of our entire team to uphold the standards of quality and innovation that my family has stood for since my great- grandfather started the business.
Stephen Rubin CBE
Stephen Rubin, the Chairman of Pentland Capital Limited, has been appointed CBE for services to inter- faith relations and to charity.
King’s Awards
Three FBUK Members are among the winners of this year’s King’s Awards for Enterprise, the most prestigious business awards in the UK. The King’s Awards for Enterprise have been running for 60 years to recognise and celebrate outstanding achievements by British companies.
Argus Media
Argus Media, the global energy and commodity news and price reporting
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Back humans, tax robots!
That long-term perspective is one of the great strengths of family enterprise.
The recent increase in Employers’ National Insurance – which I warned would prove to be a tax on jobs – has only made that imbalance more pronounced. It raised the cost of employing people at precisely the
Large global companies may be able to replace thousands of roles with AI while banking the gains across international operations. Family businesses are more likely to adopt AI in ways that support their people, helping employees become more productive rather than making them redundant. A tax system that rewards retaining and developing talent would reinforce that approach instead of putting it at a disadvantage. Britain has always succeeded by embracing innovation. We should continue to do so. But history also teaches us that periods of technological transformation require sensible public policy. The Industrial Revolution ultimately created greater prosperity because society adapted its institutions alongside new technology. AI deserves the same thoughtful approach. The design of a new “robot tax” will have to be carefully considered. We could implement transaction-based levies on AI services and automation – rather like VAT – or surcharges on businesses that replace human workers with machines.
moment when AI is becoming capable of performing many
administrative and routine tasks. If we want work to remain at the heart of a successful economy and society, we should not make human employment the more expensive option. Instead, we should look at whether AI-driven productivity gains could help fund lower taxes on jobs. Imagine using revenue from an AI levy to reverse the increase in Employers’ National Insurance. Businesses would still be encouraged to innovate and invest in technology, but they would no longer face a tax penalty for choosing to employ people. That would create a healthier balance between technological progress and human opportunity.
James Reed Chairman and CEO of Reed
Artificial intelligence is no longer a future possibility. It is becoming part of everyday business, changing how we recruit, serve customers, manage operations and make decisions. Used well, it has enormous potential. Used badly, and with the wrong policies in place, it risks creating a tax system that rewards replacing people while making it more expensive to employ them. That is why I believe we should back humans and tax robots. This is not an argument against AI. Quite the opposite. Every business should be thinking about how technology can make it more productive. AI can help people work better, eliminate repetitive tasks and unlock growth. The businesses that try to ignore it will almost certainly struggle to compete. The question is whether our tax system keeps pace with the changes we are seeing. At present, employers pay significant taxes when they hire people. Yet if they invest in AI that enables them to reduce headcount, there is no equivalent contribution. As technology improves, that creates a powerful financial incentive to automate jobs wherever possible, regardless of the wider consequences.
For family businesses, this matters especially.
Unlike many multinational corporations, family firms are often rooted in their communities. Their employees are not simply numbers on a spreadsheet; they are neighbours, friends and, in many cases, members of the same family. Decisions are frequently made with the next generation in mind rather than the next quarter’s results.
But the principle is simple: taxation has always followed where wealth is
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created. The robots are generating the wealth, so the robots should be taxed. Backing humans and taxing the robots is not about slowing innovation or punishing success. It is about recognising that if AI generates extraordinary productivity gains, while burning through entry-level jobs, some of its value should help support the people and businesses that make our economy work. Family businesses understand better than most that technology is at its best when it strengthens human potential rather than replacing it.
If we get this right, AI can drive growth, create better jobs and
strengthen the businesses that invest in both technology and people. That is a future worth building.
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Memo to the PM: the answer lies in the soil
Mark Goyder Founder, Tomorrow’s Company, Trustee of Tomorrow’s Enterprise Foundation, Author, with Ong Boon Hwee, of Entrusted: Stewardship for Responsible Wealth Creation. At its best, family business embodies the principles of stewardship through the responsible management of entrusted resources which can be passed on in better shape. Of course, there are other forms of ownership that enhance the potential of both a company and an economy to thrive. But there are a few, like the worst privatised utilities and the worst of private equity, that achieve the opposite. It is time to promote the first and call out the second. We need the combined voices of enlightened business to convince Government to focus its pursuit of growth on the birth, development and endurance of enterprising, well-led companies that generate wealth in ways that leave a better legacy for the next generation. If wealth creation grows out of the soil of a society – its education system, culture, financial institutions, science, research, creativity and imagination – then a policy for growth must be one that improves the quality of that soil with entrepreneurship and stewardship at its heart.
“We have one of the best start-up cultures and incentive frameworks in the world, but little incentive to remain involved once the business is successful.” He suggested that tax relief on dividends would encourage longer- term founder ownership. There are critical decision points as successful businesses grow beyond the span of a founder. What does the founder do? Sell to a big company? Merge with others? Go for private equity funding? Go public? Government must design tax policies with these transition moments in mind. It was shortsighted of former Chancellor Rachel Reeves to remove Business Relief for Inheritance Tax not just for farmers but for all business owners. The new rules incentivise short-termism and make it harder to pass on businesses to the next generation. The tax treatment of private equity should also be changed. Under Gordon Brown the Treasury introduced tax advantages for venture capital. These rules were exploited by private equity firms seeking to buy, fatten up and sell companies. Pubs, vet practices and children’s homes have all suffered from acquisition by investors seeking to
The conditions for entrepreneurship start in and around schools. In programmes initiated by Tomorrow’s Enterprise Foundation, and first piloted in partnership with Linney Group, a seventh-generation family business whose 175th anniversary you can read about in these pages, we have seen entrepreneurial flair among 13 - to 15-year-olds. Taken into workplaces, students rise to the challenge. Tasked with designing an app, making presentations and developing a business plan, they say the challenge of working in small teams is one of the best things they have done while at school. Local employers, partnering with schools, have identified individuals with potential and opened pathways to employment long before GCSEs. Programmes like these will significantly reduce the numbers not in education, employment or training (NEETS).
Stewardship throughout the company life cycle
Private businesses which have stayed with the families of founding entrepreneurs employ 13 million people in the UK and create most new jobs. One high-profile, serial UK entrepreneur and founder of several funds investing in early-stage enterprises told me:
Entrepreneurship
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A government committed to entrepreneurship and stewardship would not allow the public sector to buy goods or services on the basis of price alone. The character of a company must be a key consideration in any outsourcing or partnership choice. Tomorrow’s Company has worked with others ,including the British Standards Institution, to develop The Trust Test, a standard that enables the assessment of corporate character in public procurement. Alongside the Social Value Act, this could be used to prioritise taxpayer value for money. In a recent case, NHS England explicitly ruled out consideration of the character and track record of companies bidding for a major long- term contract. Such behaviour may save pennies today, but condemns the taxpayer to decades of wasted pounds.
understated example, created by a British entrepreneur. Until recently, the founders between them owned nearly 50% of the shares. Other examples include Ayala Corporation in the Philippines (founded in 1834). The family remains an anchor shareholder. Then there is Novo Nordisk – best known for the success of Wegovy, its weight-loss pill. It is a listed company, but Novo Holdings A/S holds approximately 28.1% of its shares and a majority (77.1%) of its voting shares. This has protected its independence. The management wanted to sell the company in the early 2000s, but the foundation board said no. There are UK companies which want to follow the Novo Nordisk example by establishing their ownership trust as a registered UK charity. Now, the Charity Commission has tightened the rules to prevent any payment of charitable trustees “other than for exceptional tasks on a temporary basis”. The unintended, but absurd consequence, has been to prevent a steward-owned business from being able to pay a company’s directors for fulfilling their demanding governance task. The Government, together with the Charity Commission, needs to tackle this.
extract value for today’s shareholders, rather than help companies build strength for tomorrow. In the UK, 84% of places for vulnerable children are now in the hands of providers, funded by private equity, that, according to the Financial Times , are charging the state an average of £384,000 per child per year. Tax incentives need to be aligned with long-term wealth creation, not short- term extraction. The same applies to regulation of utilities such as water companies. The wellbeing of future generations should be the first duty of every regulator.
Listed companies and the importance of an anchor shareholder
Government needs to promote steward ownership throughout each of the seven ages of the enterprise, from birth through adolescence to adulthood and beyond. This means encouragement of employee and community ownership, mutuals, social enterprise and investor stewardship in public companies. Listed companies can be good stewards and think long term. The best usually have an anchor shareholder.
Conclusion
Without an improvement in the performance of the UK economy, few other priorities can be achieved by any government. Above and beyond the usual lobbying from business, the Government needs to hear a vision describing how, over time, a healthy business sector can best grow and contribute to a healthy society. Isn’t that what good growth means? Will family businesses rise to this challenge, and work with others to develop and champion this agenda?
Public procurement, outsourcing and partnerships
Renishaw, a global provider of manufacturing technologies, is an
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FBUK Corporate Partners are critical allies of our work, giving Members direct access to subject matter expertise and bespoke advisory across a range of professional services. We’re proud to partner with these industry-leading companies.
Gold Partners
J.P. Morgan Private Bank – J.P. Morgan Private Bank supports families and entrepreneurs across the UK. We offer tailored financial advice and comprehensive wealth management and services including planning, investing, lending, banking, philanthropy, family office management and fiduciary services.
KPMG – to support the unique needs of family businesses, KPMG Enterprise manages a global network dedicated to offering relevant information and advice to family-owned businesses
NatWest – a leading UK bank and provider of retail and commercial banking, growth capital and advice on equity investment and support on finding new markets
Silver Partners
Julius Bär – for more than 130 years, we at Julius Baer have managed our clients’ wealth and served them as trusted, truly personal and holistic advisors. With our roots as a family business, we know the value of long-term relationships
S&W – a leading accountancy and advisory business that serves the mid-market. S&W is one of the UK’s fastest growing accountancy firms, with around 1,800 employees and more than 120 partners operating from 15 towns and cities in the UK and Republic of Ireland
Bronze Partners
Boodle Hatfield – a law firm which has partnered with individuals, families, property owners and businesses for 300 years, providing advice on property, business and private wealth issues
Boyden – a global leadership advisory firm for private and family-owned businesses. We advise and support our clients to deliver executive search, interim management and leadership consulting solutions, managing executive-level recruitment, succession and team performance
Clarion Solicitors – a Leeds-based law firm offering family businesses a range of services from finance and dispute resolution to data, family and private wealth advice
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Deloitte Private – connects leaders of privately held businesses, family enterprises and emerging growth companies with ideas, knowledge and experience
Farrer & Co – a specialist family business whose lawyers take pride in protecting, supporting and nurturing the clients it represents. Farrer & Co has been working with business families for generations
Forvis Mazars – an international audit, tax and advisory firm, helping family businesses navigate growth, succession and change through trusted, long-term advice and relationships.
Freeths – a firm of 13 offices nationwide, bringing energy and innovative thinking to help clients achieve their goals. We understand the unique needs and complexities of family businesses, working closely with owners and their team of advisors to build lasting relationships and deliver seamless, tailored solutions
Handelsbanken – a local relationship bank with over 120 UK branches. Built on satisfied customers, financial strength and sustainable values, our focus is on building long-term relationships, across personal and corporate banking, and wealth management.
Hymans Robertson Personal Wealth – an independent partnership helping to build better financial futures for millions of people across the UK. With over a century of history, we provide services to organisations and individuals across pensions, investments and insurance
LGT – a UK-based wealth management firm that is part of LGT, the world’s largest private bank and asset manager owned by a single family, the Princely House of Liechtenstein, for over 80 years
Lockton – the world’s largest privately owned insurance broker and risk advisory firm whose personal approach delivers boundary-pushing solutions for individuals, families and businesses all over the world
Redgrave – a leading executive search firm offering search and interim support, board-level recruitment, talent assessment and development, transition planning and advisory
Saxton Bampfylde – the UK’s first employee-owned search firm that understands the nuances and importance of ownership regarding talent, leadership and transitioning between generations
Western Pension Solutions – a specialist pensions consultancy owned by the Vestey family, providing strategic advice to family businesses on how to manage their legacy- defined benefit pension schemes
For more information about our Corporate Partners, or to contact us about becoming a Partner, scan the QR code.
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Mid-market Member views
Matthew Ayres Group Managing Director Bennie Group
environment that often talks about growth while adding layers of control, compliance and cost. As businesses scale, the impact of red tape becomes more visible. Requirements that may feel manageable in isolation begin to compound, particularly for companies that are growing quickly but do not yet have the infrastructure of a large corporate. As a fourth-generation family business, our long-term view is a real strength. Decisions are made not just for the financial year, but with future generations, employees, customers and local communities in mind. That stewardship mindset is powerful, but it also makes it frustrating when leadership time is pulled away from commercial activity, customer service and investment into managing process and compliance. Scaling for us is not simply about getting bigger. It is about building a stronger group that can continue to invest, employ local people, serve customers well and remain true to the values that have carried the business for more than 90 years. The question is simple: how much more could family businesses deliver if we took a more common-sense approach to regulation and red tape?
issue is not a lack of ambition; it is the volume of complexity that sits between ambition and delivery. The UK remains an extraordinary place to build a business. We benefit from stability, opportunity and a strong entrepreneurial culture. But that sits uncomfortably alongside a policy
Running a business is never easy, but scaling a family business brings a particular set of challenges. Over the last couple of years, as we have reshaped and grown The Bennie Group, what has struck me most is how much leadership time is absorbed by barriers that do not add value. For mid-market firms, the
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Mid-market Member views
Sarah Naghshineh Managing Director RCP Parking
at around five years asks us to take on refinancing risk that sits uneasily with a genuinely long-term approach. So, it was encouraging to see the Government’s recent announcement extending the Growth Guarantee Scheme’s maximum loan term to ten years. It’s a genuine step towards capital that thinks the way we do – supporting long-term family businesses to unlock growth.
Anyone who runs a family business knows we work to a different rhythm. We think about the next generation, not just the next quarter. That long view is our great strength, and it’s exactly why these businesses are worth backing. The recent FBUK and ScaleUp Institute research puts real weight behind it. Mid-market and scaling family firms add more than £140 billion to the economy and employ over 900,000 people,
and one in four of every visibly scaling business in the country is a family business. We are woven into the fabric of regional Britain. The challenge has been that the finance available hasn’t always matched how we operate. When we spoke with the Department for Business and Trade, my point was simple: we can raise debt against our operating business readily enough, but a repayment term capped
Sarah and RCP founder Shapoor Naghshineh with Paul Sinha (right) and Gary Carr from Emperia Ltd (left)
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Family businesses in the critical middle: unlocking the UK’s next growth opportunity
and employing more than 900,000 people.* Importantly, nearly nine in ten are based outside London. The research also revealed a sector that is both ambitious and optimistic:
that exists within this segment. The findings showed that a modest 1% increase in growth across the UK’s mid-market could generate an additional £35 billion for the UK economy, with £24 billion of that created outside the South East.* These firms are often deeply rooted in their regions, supporting local supply chains, investing in skills and creating high-quality employment. They are not simply contributors to regional
Family businesses are at the heart of the UK economy. They create jobs, invest for the long term, support local communities and pass knowledge, values and ambition from one generation to the next. For many Family Business UK Members, growth is about more than quarterly or annual results; it is about building resilient businesses that will succeed for generations. Today, many of those businesses sit within the UK’s “ critical middle ” – the mid-market segment that represents one of the greatest opportunities for economic growth across the country. These businesses are large enough to invest, innovate, export and create meaningful employment, yet agile enough to adapt quickly to changing market conditions. Despite this, they have often been overlooked in favour of either SMEs or large corporates.
Seven in ten expect to continue scaling in 2026
Six in ten see overseas sales as a priority for growth
Nine in ten have undertaken innovative activity during the last three years
economies – they are often the businesses that anchor them.
One in four scaling businesses in the UK is family-owned.
For family businesses, that regional impact is particularly powerful. Their long-term outlook, commitment to place and focus on sustainability make them natural drivers of economic resilience and productivity.
At the same time, family businesses identified clear barriers to growth. Access to markets, talent, leadership capability, regulatory and policy developments, growth finance and innovation support emerged as recurring themes. Many respondents highlighted the value of stronger regional support networks, and a trusted relationship manager who could act as a single point of contact as they navigate their growth journey. The message was clear: the ambition exists. The opportunity exists. What is needed is a more coordinated ecosystem to help unlock it.
What we learned about family business scale-ups
That is beginning to change.
The importance of family businesses within the mid-market was reinforced by Family Business UK’s recent report, Family Business Scale-Ups: Breaking Barriers to Growth , published in partnership with the ScaleUp Institute. The report highlighted that there are over 8,500 mid-market family businesses across the UK, generating £142 billion in turnover
Why mid-market companies matter
The numbers demonstrate just how important this segment is. While mid-market businesses account for just 0.5% of UK companies, they contribute 26% of UK employment and 30% of gross value added (GVA) to the economy.
NatWest’s Critical Middle research identified the enormous potential
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governance, succession, long-term investment horizons and multi- generational planning.
growth finance, enhancing regional delivery models and ensuring that mid-market businesses are embedded within national and local growth strategies. For family businesses specifically, many of the recommendations emerging from the ScaleUp Institute’s research align closely with the Council’s agenda: stronger access to decision-makers, better connections to talent and leadership development, more visible growth support, and improved awareness of the finance and innovation opportunities already available.
From research to action: the Mid-Market Growth Council
Recognising both the economic significance of the sector and the historic lack of focus on its unique needs, NatWest convened the Mid- Market Growth Council (MMGC) in 2025, chaired by NatWest Group CEO Paul Thwaite and supported by HM Treasury and the Department for Business, Innovation, Science and Trade. The Council was established directly in response to the findings of The Critical Middle and provides a unified voice for mid-market businesses – bringing together Government, business leaders (including FBUK Chair Steve Rigby) and industry bodies to champion policies that unlock growth. Since the launch, the Council has helped raise the profile of mid-market firms within Government and worked towards establishing a clearer UK- wide definition for the segment. Importantly, the Council – which defines a mid-market firm as one with revenue between £10 million and £100 million and/or 50 – 500 employees – has also ensured that mid-market businesses are increasingly recognised as a distinct and strategically important segment of the economy, whose needs differ from both SMEs and large corporates.
Building the future together
Family businesses represent some of the very best of British business. Their values, resilience and commitment to future generations make them uniquely positioned to help drive the UK’s next chapter of growth. The evidence is compelling. Mid- market family businesses are already contributing billions to the economy, creating jobs across every nation and region, and investing in innovation, exports and people. Through initiatives such as the MMGC, our network of Mid-Market Champions and the continued investment in specialist relationship banking, NatWest is committed to helping family businesses scale, innovate and succeed. Because when family businesses grow, the benefits extend far beyond the business itself. They strengthen communities, create opportunity and build lasting economic prosperity for generations to come. *This data is based on NatWest’s report, Mid-Market Corporates: The Critical Middle Scan the QR code to view
Strengthening support where it matters most
At NatWest, we recognise that growth happens locally.
Earlier this year, we appointed Mid- Market Champions across all 12 regions and nations of the UK. These Champions provide visible regional leadership for the segment, helping to amplify the voice of mid- market businesses, gather regional insight and ensure local priorities inform the work of the MMGC. For family businesses, this regional approach matters. The ScaleUp Institute’s research confirmed that many growth challenges are place- based – whether that’s access to talent, new markets, investors or local support networks. By strengthening regional representation and engagement, the Champions will help ensure that mid-market family businesses can access the support they need closer to home. Alongside this, NatWest continues to invest in one of the UK’s largest face- to-face business banking networks, with nearly 1,000 Relationship Managers nationwide. We are also enhancing training and specialist expertise so our teams better understand the unique characteristics of family-owned businesses, including
Looking ahead: priorities for year two
Now in its second year and with strong foundations in place, the Council is focused on driving measurable outcomes for the segment. Key priorities include improving market access, supporting international trade and exports, strengthening talent pipelines, increasing awareness and access to
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The importance of community
It’s these experiences and the feedback from Members about
Community matters to all of us. It’s where we find connections, seek security and share experience. At FBUK our Communities are a core benefit of your membership, allowing you to connect with other Members from across the organisation. They are organised around a specific role or area of interest such as: • NextGen and NowGen – for those at different stages of their journey in their family business. • Chairs, Family Office and Non- Family Executives – groups for individuals with a specific role or function in the business. • Policy – for those interested in keeping informed on our work and shaping the political landscape. Members often tell us that their involvement with our Community groups ranks among the most valuable time they spend among their peers – learning, sharing and, critically, addressing a common challenge: feeling they are alone in dealing with family and business issues. Isabelle Coles, part of the NextGen Community is fifth generation at FBUK Member James Coles and Sons (Nurseries) Ltd: “Being in a space with like-minded people of a similar age is a refreshing experience, and not something you get to do that often.” C-J Green is Chair of the Family Council at Notcutts Ltd and part of the Family Council Community: “The calls we have provide a valuable space to understand how other Family Councils are navigating challenges and gives us a reminder that we are not facing those
how our Communities can evolve to better suit your needs and challenges that has led to us launch three new Communities:
Women in Family Business: supporting women in senior
leadership roles who are working within family businesses. Our first meeting is already scheduled online for 19 September 2026. Philanthropy and Foundations: for Members that are passionate about making charitable giving or community investment as part of their family business and advancing the narrative of philanthropy in business. Family Office: set up by many family businesses to help them manage their investments and wealth. This Community is for family business owners who have or are considering setting up a Family Office. To find out more and to register your interest in any of the Communities, please email Laura: laura.wakerley@familybusinessuk.org or scan the QR code below.
Laura Wakerley Membership Manager
Chairs
NextGen
NowGen
Family Council
Non-family Executives
Policy
Women in Family Business
Family Office
Philanthropy & Foundations
challenges in isolation.”
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Morris and Walkers, it is not just about preserving our traditions, but making them relevant and exciting to new consumers. Family businesses are uniquely placed to value and energetically build on their heritage because their future prosperity depends on it. These 175th anniversary celebrations brought that ethos to life. The Melton Mowbray Pie holds a special place in the UK’s history and food culture. Through the efforts of Samworth Brothers and other supporters, including the Melton Mowbray Pork Pie Association, Melton Pies enjoy Geographic Indication status, a mark that protects the names of products whose unique qualities, reputation or production methods are fundamentally tied to a specific territory. As it celebrates 175 years, the Melton Mowbray Pork Pie continues to be a contemporary hit sought after by connoisseurs and retailers including Selfridges and Fortnum & Mason. You can read more about Samworth Brothers’ battle to save the Melton Mowbray Pie via the QR code.
In 1851, a pie maker called John Dickinson opened a “Pie Shoppe” in Melton Mowbray. For 175 years, craftsmanship, quality and passionate people have been at the heart of every pork pie produced there. Inspired by John Dickinson’s grandmother, Mary, the Pie Shoppe is a legacy that has been built over generations and one that continues today thanks to the dedication of its colleagues past and present. Owned by FBUK Patron, Samworth Brothers since 1992, the shop has gone from strength to strength, including a major refurbishment in 2024 which added a new tasting room and the world’s first-ever pork pie museum!
Mark Samworth, Chairman of Samworth Brothers said:
At Samworth Brothers, Ye Olde Pork Pie Shoppe is a tangible symbol of our commitment as a business to food heritage, food quality and the town that made the pork pie famous. We celebrated with the theme ‘175 years young’.
For both Ye Olde Pork Pie Shoppe and our brands like Dickinson &
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