Building Britain for Generations: A Policy Agenda for Family Businesses
High Streets Family businesses don’t just trade on high streets, they anchor them. Unlike national chains, they can’t relocate to a distribution warehouse or retreat entirely online. They are structurally committed to place in a way that no corporate retail strategy can replicate, and their presence over decades, across generations, can be what gives high streets their character and resilience. That commitment deserves recognition in the tax system. We recommend that Government introduces a Community Investment Tax Relief for businesses, similar to the Gift Aid and Community Amateur Sports Club relief available to individual donors, allowing family firms to offset investment in community assets, local infrastructure, or crime reduction measures against their tax liability. This would formalise and reward what many family businesses already do instinctively, and direct private capital towards community needs without additional public spending.
Further Devolution Family businesses are inherently local. They don’t actively look to move their headquarters or consolidate regional operations into a national hub. Their success is tied to the places they are in, which makes them a crucial part of devolved Government. Yet family businesses remain an afterthought in most mayoral and combined authority structures. The models exist: Deputy Mayors for Business, sectoral Advisory Councils, dedicated Czars for the night-time economy. What is missing is
equivalent representation for the businesses that form the backbone of every regional economy. We call on all Mayors and devolved leaders to ensure family businesses have a formal voice in their economic governance as a recognition of where regional growth comes from.
Recommendation Implement a new wave of fiscal devolution led by new and existing Mayors. All Mayors should have family business representation on their Business Advisory Council or appoint a ‘Family Business Czar’.
Recommendation Introduce tax relief for family businesses which invest in their communities – for instance if they invest in community spaces or measures to reduce the level of business-related crime. This could be similar to the current tax relief system where individuals can donate to Charities or Community Amateur Sports Clubs.
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