September 19 marks National Family Business Day, an annual event to recognise family-run enterprises’ invaluable contributions to the country’s economy and communities.
In this short blog, we want to give family businesses the shout-out they deserve whilst highlighting the work both Gorvins and Family Business United do to support them.
The bedrock of the economy
Family businesses are the bedrock on which the UK economy sits, accounting for an impressive 88% of all private sector firms. They employ 12 million people and contribute billions of pounds to the national GDP. Family Business Day is the perfect opportunity to put these businesses front and centre, celebrating the diversity that makes up their number. From small local shops and restaurants to large multinational corporations such as JCB, Virgin Atlantic and Dyson to name a few, family businesses take many shapes and sizes.
Family businesses standing the test of time
Family businesses consistently prove adaptable, thriving through economic cycles, technological advancements and societal changes.
The businesses that can boast of this resilience often attribute it to their long-term vision, strong values and deep community ties. Unlike their publicly traded counterparts, they tend to prioritise sustainability, community and legacy over short-term profits.
It’s these qualities that are key to their longevity.
Family Business United (FBU)
Family Business United plays a crucial role in organising National Family Business Day and advocates for family-run businesses 365 days a year. Founded by Paul Andrews, the FBU is dedicated to promoting the interests of family businesses, supporting them to address challenges and celebrate their successes.
They do this through
- Awareness Campaigns: Highlighting the importance and impact of family businesses on social media, in the press, and through their own channels.
- Educational Resources: Offering webinars, articles, and guides to help family businesses navigate issues such as succession planning, governance, and innovation.
- Networking Opportunities: Facilitating connections among family business owners, allowing them to share experiences and strategies.
Gorvins support for family businesses
Here at Gorvins, we’re staunch supporters of family businesses and have a dedicated team to support them. Providing services on everything from succession planning and estate planning to matrimonial and dispute resolution when things don’t work out as planned, we provide the sensitive approach required when dealing with family businesses.
How you can get involved with National Family Business Day?
On the big day itself, communities from across the UK will be coming together to celebrate the achievements of family businesses. At the national Family Business Day Dinner, there’ll be a chance to celebrate the huge contributions family businesses make to the UK economy every day.
There will be plenty of activities on social media you can get involved with under the hashtag #GBFamilyBizDay. You can celebrate the achievements of family businesses from the comfort of your own office.
Speaking about Family Business Day, Paul Andrews, CEO of Family Business United, said:
“National Family Business Day is a vital opportunity to shine a light on the remarkable contributions of UK family firms. These businesses are the backbone of our economy and our communities, and their dedication and hard work deserve recognition.”
“We celebrate the resilience and innovation of family businesses, and we are committed to supporting them in navigating their unique challenges. This day is a testament to their enduring legacy and an affirmation of their crucial role in our society and it is a fantastic day to celebrate their impact on the national economy too.”
“We champion and celebrate the family business sector each and every day but the creation of a national day that shines a spotlight on the sector for all to see really does amplify the family business voice across the nation. Family firms really do put the GREAT into Great Britain.”
Christian Mancier, head of the Family Business Team at Gorvins Solicitors said:
“Family businesses are fundamental to the UK and its economy. Providing jobs, vital products and services, and long-lasting prosperity and support for their local communities, it’s great to see them get the recognition they deserve during National Family Business Day.
“At Gorvins, we’ll continue to provide excellent legal services that support family businesses to be at their best, trade with confidence and flourish in their sectors.”
Find out more about National Family Business Day and the work Family Business United does to champion family businesses at www.familybusinessunited.com
If you’re a family business and need legal support, our expert legal team are ready and waiting. To get started, call us on 0161 930 5151, email us at Enquiries@gorvins.com or fill in the online form.