Family Business Scale-ups: Breaking Barriers to Growth
Mid-market family businesses
Mid-market family businesses industries For this cohort of mid-market family businesses, deeper analysis has been Figure 8: Industries of mid-market family businesses Figure #: Industries of Mid-Market Family Businesses
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conducted of the industries they operate in, using not just SIC codes but wider data sources to provide insights into their precise industries of operation based on how each business describes itself. This is in order to better reflect emerging sectors that are not effectively captured by SIC codes and also to eliminate those known challenges of SIC inaccuracies (e.g. lack of updating post-business registration, infrequent code updates), as well as to provide insights into the eight key sectors in the UK Government’s Industrial Strategy. Similarly to all family businesses, the largest areas of operation for mid-market are wholesale and retail and construction/property. Just over 42% are operating within the Government’s eight Industrial Strategy priority sectors, with the largest groups in Advanced Manufacturing (21%) and Professional Services (11%).
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