The FBUK Annual review summarises the Company's performance during 2025.
2025 YEAR IN REVIEW
YEAR IN REVIEW CONTENTS 2025
PURPOSE AND STRATEGY / p3 FINANCIAL PERFORMANCE / p4 POLICY AND ADVOCACY / p8 EXTERNAL AFFAIRS / p14 MEMBERSHIP / p18 PROGRAMMES AND EVENTS / p20 PARTNERSHIPS AND ALLIANCES / p24 FBUK BOARD / p25
PURPOSE AND STRATEGY
2025 YEAR IN REVIEW PURPOSE AND STRATEGY
3
Our Strategy brings family businesses together, along with subject matter experts, advisors, academics, regulators, and civil society to: Advocate for policies and regulation that incentivise long-term investment, ensure the financial sustainability of the sector, and provide a unified voice to influence government and help shape markets Provide thought leadership and support for family businesses navigating the complexities of family dynamics, multigenerational change, and succession, and in doing so strengthen capacity building and bottom-line performance Shift perceptions towards family businesses, and create a greater awareness and recognition of the contribution family businesses make to our economy and communities.
Our Purpose is to help family businesses build Britain for generations to come.
FINANCIAL PERFORMANCE
2025 YEAR IN REVIEW FINANCIAL PERFORMANCE
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37% 607% 29%
TURNOVER Year 2025 £1,420,380 (+37%) Year 2024 £1,036,525 OPERATING PROFIT Year 2025 £25,504 (x6.1) Year 2024 £4,199 CASH RESOURCE Year 2025 £1,222,547 (+29%) Year 2024 £947,669
These financial statements reflect a 12-month period to 31 December 2025, compared to a 12-month period to 31 December 2024 in the comparative period. The figures presented have not been subject to audit. Turnover increased significantly to £1,420,380 up 37% year on year due to growth in membership; introduction of Patron Programme; and revised tier structure for Corporate Partners. FBUK trading profits have improved, now £25,504 for the end December 2025 (12 month period).
2025 YEAR IN REVIEW FINANCIAL PERFORMANCE
5
The financial information on the following pages is extracted from the company’s internal financial statements but does not include all the information relating to the financial year that would be included in the full statutory financial statements. It therefore represents non-statutory financial information. Full statutory financial statements have not yet been prepared by the company accountants, Pitt Godden & Taylor LLP (PGT). A full set of financial statements can be obtained by making a request in writing to the company’s registered office. It is anticipated these statements will become available by end June 2026.
2025 YEAR IN REVIEW FINANCIAL PERFORMANCE
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Income & Expenditure Account Statement
12 months to
12 months to
December 2025 (£)
December 2024 (£)
Income
1,420,380 (420,698)
1,036,525 (353,020)
Cost of sales
Gross surplus
999,682
683,505
Administrative expenses
(999,354)
(683,706)
Operating surplus/(deficit)
328
(201)
Interest receivable and similar income
25,176
4,400
Surplus/(deficit) before taxation
25,504
4,199
Tax on surplus/(deficit)
-
-
Surplus/(deficit) for the financial year
25,504
4,199
Balance Sheet
2025 YEAR IN REVIEW FINANCIAL PERFORMANCE
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December 2025 (£)
December 2024 (£)
Fixed assets Tangible assets Current assets Debtors
30,024
41,497
374,449
360,227 947,669
Cash at bank and in hand
1,222,547 1,596,996 (1,570,635)
Creditors
1,307,896 (1,318,512)
Amounts falling due within one year
Net current assets
26,361 56,385
(10,616) 30,881
Total assets less current liabilities Reserves Income and expenditure account
56,385 56,385
30,881 30,881
Members’ funds
A Year of Sustained Influence Deepening relationships with ministers, MPs and parliamentarians across the UK Positioning FBUK as a trusted partner on growth, investment and trade. 2025 POLICY AND ADVOCACY 2025 YEAR IN REVIEW POLICY AND ADVOCACY 8 FBUK strengthened its position as the leading voice for family businesses across Westminster and the devolved legislatures. Throughout 2025, our work focused on: Leading the debate on proposed Inheritance Tax reforms Ensuring policymakers recognised the economic contribution of all family firms, but in particular, medium-sized and high growth scale-up businesses
2025 YEAR IN REVIEW POLICY AND ADVOCACY
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Policy Movement on Inheritance Tax
Throughout the year, FBUK led the national conversation on the future of Inheritance Tax and its impact on long-term family ownership. We engaged intensively with Number 10, HM Treasury, ministers, MPs and officials, consistently setting out the risks that proposed changes to Business Property Relief (BPR) would pose to investment, jobs, and the long-term stewardship that family firms provide.
As the authoritative voice representing family businesses, FBUK shaped the evidence base. As part of this campaign, FBUK mobilised its Membership and the wider business community, coordinating high‑profile open letters to government signed by family business leaders from across the UK and, separately, by a coalition of leading trade and business organisations. These interventions amplified pressure on ministers and ensured the voice of family business was impossible to ignore.
As a direct result of the campaign’s success, FBUK was approached by multiple trade bodies to lead a new alliance focused on protecting long‑term family ownership and investment. This recognition reflected FBUK’s role as the convenor and trusted leader across engagement contributed directly to several important policy shifts during 2025, ensuring that the needs and realities of family businesses were firmly better understood at the highest levels of government. the business community. Our sustained and early
2025 YEAR IN REVIEW POLICY AND ADVOCACY
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Key Activity and Policy Wins
Spring 2025 Publication of
Summer 2025 Throughout the campaign, FBUK held repeated meetings and briefings with Number 10, HM Treasury and Department of Business & Trade (DBT) officials and ministers. Targeted engagement with MPs from across parties, Peers and devolved governments to brief them on the report’s findings and implications. Hosted an FBUK Member roundtable with Emma Jones, the Small Business Commissioner, to discuss late payments, followed by a formal consultation response.
September 2025 – Policy Win The Pension Protection Fund confirmed it would suspend the levy for defined benefit schemes for 2025/26, saving family businesses around £45 million.
Taxing Futures , a research report setting out the economic impact fiscal implications and behavioural effects of capping BPR and APR. Research supported by 32 leading UK trade and industry bodies.
2025 YEAR IN REVIEW POLICY AND ADVOCACY
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October 2025 FBUK hosted a parliamentary drop-in session attended by over 20 parliamentarians, alongside a Patrons Roundtable with Andrew Griffith MP. Late October 2025 FBUK Chair Steve Rigby gave oral evidence to the House of Lords Finance Bill Sub-Committee on BPR/APR and set out key
Budget 2025 – Policy Win Government announced that any unused portion of the £1m allowance could be transferred to a surviving spouse or civil partner.
December 2025 – Policy Win The BPR/APR 100% relief allowance increased from £1m to £2.5m, and made transferable between spouses or partners.
asks ahead of the Autumn Budget.
2025 YEAR IN REVIEW POLICY AND ADVOCACY
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Landmark Study by FBUK – Taxing Futures Report In 2025, FBUK released its landmark analysis on the
It delivered the first detailed assessment of how the reforms could hit family businesses and farms. Key findings included 208,000 jobs at risk, a £14.8 billion drop in economic output, 55% of affected firms pausing investment, and a rising number considering sales to external or overseas buyers. The report quickly became a central reference point in parliamentary debates on inheritance tax reform. MPs from all major parties engaged with FBUK - meeting us, citing the research in Parliament, or raising concerns directly with the Treasury.
Following publication, FBUK launched a major mobilisation effort. Every MP received constituency‑level impact data, and we had the support of 32 trade associations who endorsed and used the research. Engagement spanned MPs, Peers, devolved legislatures, and senior officials within No.10, HM Treasury and the Department for Business and Trade. The report drove a sharp rise in MPs raising the issue publicly and privately urging ministers to reconsider the proposals.
economic impact of proposed changes to Business Property Relief (BPR) and Agricultural Property Relief (APR).
2025 YEAR IN REVIEW POLICY AND ADVOCACY
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Family Business Week Family Business Week 2025 centred on the theme of international trade and export growth.
Highlights included: An export support webinar with DBT
A ministerial roundtable with Sir Chris Bryant MP, Minister of State for Trade Publication of a trade policy paper Our flagship Westminster Reception, bringing together around 250 senior MPs, policymakers, Members and Corporate Partners, with keynote remarks from Sir Chris Bryant MP and Andrew Griffith MP.
EXTERNAL AFFAIRS
2025 YEAR IN REVIEW EXTERNAL AFFAIRS
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Press and Media Media attention in 2025 centred on the Government’s proposed Inheritance Tax changes, with FBUK shaping the national conversation through evidence from our CBI Economics research and sustained commentary throughout the year. Coverage spiked around the publication of Taxing Futures , published to coincide with FBUK Annual Conference, the Autumn Budget, and the Government’s December decision to scale back elements of the policy following pressure from FBUK.
2025 YEAR IN REVIEW EXTERNAL AFFAIRS
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Across the year FBUK secured 2,184 media mentions
These included: Prominent national press coverage, in all UK titles including the Financial Times , The Daily Telegraph , Daily Express , The Times and The Guardian . In addition, we secured prominent commentary in the Daily Mail which, towards the end of 2025, began its own campaign to reverse changes to BPR Sector press coverage in titles ranging from Money Week to The Spectator
National broadcast coverage including prominent programmes such as Today (Radio 4) and Wake up to Money (5-Live) . In addition, FBUK Chair Steve Rigby appeared on flagship programmes including BBC Question Time and Kuenssberg on Sunday Regional broadcast coverage, particularly focused on the publication of our Taxing Futures report during Annual Conference, and later in the year, ahead of the Budget.
Open letters co‑ordinated by FBUK drove significant national coverage and sustained media pressure on Government. Coverage consistently referenced FBUK’s Taxing Futures research, reinforcing its status as the definitive analysis.
2025 YEAR IN REVIEW EXTERNAL AFFAIRS
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FBUK Magazine In 2025 the magazine moved from a biannual to a quarterly publication, with a print run of around 700 copies. December marked the launch of the first fully digital edition, which was viewed more than 2,700 times. The magazine continues to grow as a core platform for engaging family businesses across the UK, as well as stakeholders across the sector.
2025 YEAR IN REVIEW EXTERNAL AFFAIRS
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Social and Digital FBUK’s digital presence strengthened significantly in 2025, driven by more consistent and impactful content. LinkedIn followers grew 30% to 7,207 Engagement peaked during Family Business Week and the Autumn Budget, generating almost 72,000 impressions in October–November Website activity rose sharply, with 163,000 page views – a 30% increase – and over 400,000 engagements across the site.
2025 YEAR IN REVIEW MEMBERSHIP
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MEMBERSHIP
2025 saw unprecedented growth in FBUK’s Membership. The network grew in depth and diversity, with more founder-generation businesses, mid-sized scaleups and multigenerational firms joining from across every industry sector and region of the UK.
Growth was directly supported by FBUK’s highly visible leadership on BPR and Inheritance Tax, which demonstrated the tangible value of a strong, collective voice. Referrals from existing Members and the return of former Members contributed to sustained growth in membership. FBUK Communities remained a key platform for Member engagement across the network, bringing together Members with shared roles, responsibilities, and interests – both family and non-family in executive and non- executive roles. Their continued development contributed significantly to the strength, cohesion and vibrancy of the Membership by providing safe spaces to share experiences, exchange advice, and create practical solutions to challenges faced by family businesses.
MEMBERSHIP RETENTION during 2025
NET INCREASE IN MEMBERSHIP during 2025
2025 YEAR IN REVIEW MEMBERSHIP
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Patrons In 2025 we launched a new FBUK Patrons Programme, bringing together a cohort of some of the UK’s largest private and family-owned businesses. Collectively they represent 1% of GDP and employ 1% of the UK private sector workforce.
The following organisations have become FBUK patrons in the past year:
PROGRAMMES AND EVENTS
2025 YEAR IN REVIEW PROGRAMMES AND EVENTS
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Annual Conference – Our most successful yet The 2025 Conference in Manchester delivered a 45% increase in attendance, with record group bookings and fantastic representation from NextGen leaders and senior non-family executives. The energy and diversity of perspectives made it one of our most dynamic flagship events to date.
A year of strong growth, connection and high-value engagement 2025 was a year marked by momentum and rising engagement across our entire programme Members participated in greater numbers, brought wider teams, and made full use of the opportunities to learn, connect and share insights.
2025 YEAR IN REVIEW PROGRAMMES AND EVENTS
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BPR Clinics – Trusted Leadership on Policy Change Our nationwide BPR Clinics provided timely, trusted guidance to family businesses as they prepared for the April 2026 IHT changes.
Webinars and Member Calls –
New Member Calls – A Warm Welcome and Strong Start Participation in our new member calls continued to grow, with new joiners valuing the chance to understand how to get meet fellow Members in a relaxed virtual setting. These early touchpoints helped embed new organisations quickly and meaningfully into the FBUK community. the most from their membership and to
Real-time Expertise
A strong calendar of online sessions ensured Members remained informed throughout key
policy developments, including the Budget. These calls offered expert analysis, practical guidance and a space for members to ask questions and engage directly with specialists.
These sessions were extremely well received and
reinforced FBUK’s role as the go‑to source for expert policy insight.
High-Impact Experiences, Peer Learning and Future-Focused Development
2025 YEAR IN REVIEW PROGRAMMES AND EVENTS
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Rising Overall Engagement Our refined programme delivered an increase in total attendance, reflecting strong appetite for high-quality learning and peer connection across the family business community.
Family Business Visits – Insightful and Inspirational We hosted exceptional family business visits across the UK, each offering unique behind‑the‑scenes access and practical insights. Attendees consistently rated the visits “excellent” or “good”, praising the opportunity to learn directly from other family businesses. With thanks to our generous
Next Generation Development – Investing in Future Leaders Our commitment to emerging leaders continued to deepen. Building on our Next Generation Retreat, we have now evolved this into the new Future Leaders Programme, launched in 2026 to equip rising talent with the skills, confidence and peer networks needed for long-term success.
hosts: Viridian Nutrition, ARCO, Palmers Brewery, Trumpington Estate and Tennants Auctioneers.
2025 YEAR IN REVIEW PROGRAMMES AND EVENTS
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Communities – Strengthening Peer Networks Our Communities flourished throughout 2025, offering dedicated spaces for Members to share experience, collaborate and learn. These networks continue to grow as a central pillar of Member engagement. Number of events increased by 45% Participation levels grew by 39% Membership of the Policy Community more than doubled, reflecting the
Our Communities include: Chairs Community Family Council Community Non-family Executives Community NextGen Community NowGen Community Policy Community.
FBUK plans to launch three new Communities in 2026 – Family Office , Philanthropy , Women in Family Business - further expanding opportunities for Members for new connections, and peer-to-peer learning.
increased importance of policy engagement across the network.
FBUK Corporate Partners are critical allies of our work, giving FBUK Members direct access to subject matter expertise and bespoke advisory services across a range of professional services. PARTNERSHIPS AND ALLIANCES
2025 YEAR IN REVIEW PARTNERSHIPS AND ALLIANCES
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In 2025, FBUK launched a revitalised Partner Programme, delivering unprecedented growth in both the number and depth of partnerships and reinforcing FBUK’s position at the centre of the family business ecosystem. We are proud to have the following industry-leading companies form part of our growing Corporate Partner network: Gold Partners
2025 YEAR IN REVIEW PARTNERSHIPS AND ALLIANCES
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Sliver Partners
Bronze Partners
FBUK BOARD
2025 YEAR IN REVIEW FBUK BOARD
26
In 2025 FBUK established two sub-committees of the Board: a Policy Committee chaired by Polly Mackenzie, and Tax Committee chaired by Chris Romans. Both Polly and Chris are Advisors to the FBUK Board. In 2025, Sir James Wates CBE stood down as Family Business UK Chair. Christopher Bailey, Chloe Benest, Nick Linney, Alastair Macphie and Thomas Martin stood down as Directors. We thank them for their commitment and support to FBUK and our Members over many years.
Steve Rigby Rigby Group (Chair)
Charlie Field CPJ Field (Deputy Chair)
Sarah Dean Noble Foods Group
Rupert Heseltine Haymarket Media Group
Sarah Naghshineh RCP Parking
Neil Davy Family Business UK
familybusinessuk.org Copyright © 2026 Family Businesses UK. All rights reserved. Company number: 4258666 Registered office: Family Business UK (Ltd), c/o Rigby Group Plc, 80 Brook Street, London W1K 5EG
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