KEY DRIVERS FOR FAMILY FIRMS
Family businesses around the world operate across all sectors of the economy and come in all sizes. Some are on the start of their journey in the founding generation whilst others have been around for multiple generations where the family see themselves as custodians or stewards of the business for future generations.
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Family businesses are driven by specific needs and values as they seek to make a difference, taking a long term view and creating sustainable businesses for the long term. Research that was undertaken by Family Business United sought to clarify the drivers for family firms and identified the following as the key drivers for family businesses as follows:
1
To be seen as a good employer and somewhere
people want to work
(91%)
2
To protect the business to ensure it is profitable
and sustainable going forward
(88%)
3
To manage reputation and brand
(73%)
4
To provide and safeguard jobs in the wider community
(51%)
5
To pass the business on to the next generation in
a better state than which it was taken on
(48%)
6
To be philanthropic and support causes that
reflect underlying family business values
(47%)
7
To act as custodians of the business for future generations
(47%)
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FBU continues to expand and has a growing membership base around the world. Recognised as THE family business champions we have also gained recognition in both of the Top 100 Global Family Business Influencers list compiled by Family Capital. We are also the VOICE of the family business community, celebrating their contribution throughout the UK and beyond.
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Family Business United (‘FBU’) is an unparalleled rallying point and voice for the global family business community and an invaluable source of insight into the sector. FBU is a resource for all, family businesses of all sizes and sectors, and their advisers, helping to raise the profile of the family business sector and to encourage greater awareness of the contribution that family firms make to the global economy through employment, income generation, wealth creation and charitable endeavours.
At FBU, everything we do is about the family business, creating the best resource available to help families in business get access to the resources and support they need to continue their family business journey, wherever it will take them.