Building Britain for Generations: A Policy Agenda for Family Businesses
Introduction
Our Vision: Building Britain for Generations Family businesses are the cornerstones of our communities and for too long they have been taken for granted by short-termism that exists in our public debate. Whilst fads will go in and out of fashion, family businesses offer consistency and stability in our local communities that helps build and maintain social cohesion and community prosperity. They are major contributors to the tax base that helps drive the UK economy and its public services. 2 We call for long-term thinking in Government at all levels that mirrors the long-term approach that takes place in our family businesses. Collectively, they represent more than 90% of all private businesses, employ almost 60% of the private sector workforce, generate £985 billion in GVA, and contribute more than £400 billion in taxes. 3 Family businesses are the missing piece of the jigsaw in scale-up and industrial policy frameworks, which are designed around ‘venture-backed’ or private-equity-owned growth trajectories. To realise the potential of British industry, Government must not overlook the power of family businesses. As family businesses plan over decades, not electoral cycles, it is time for a new private and family-first approach which is centred on long-term growth. It is time for politicians to understand how family businesses operate, what motivates them, and how they operate differently from public limited companies and private-equity-backed firms. Family businesses have been building Britain for generations and call for a long-term approach to policymaking to help match their ambition, to help them invest and grow and build the future generations.
We call on political thinkers to follow the ‘family’ message: F air Taxation that stimulates growth A ccess to finance and business support M edium-sized family focus – which is the overlooked engine of national productivity I nvestment in our local communities where family firms are rooted L owering the cost of doing business Y oung generational focus to empower the leaders of tomorrow
2 Sunday Times Tax list – Saturday 31st January 2026. 3 Family Business Research Foundation: 2023 edition of The State of the Nation: The UK Family Business Sector .
Page 14
Made with FlippingBook - professional solution for displaying marketing and sales documents online