Today marks family business day, which celebrates and recognises the contribution that family firms make to the UK economy on a daily basis – through income generation, wealth creation, employment and community support. As a family firm ourselves we are delighted to be taking part in National Family Business Day 2021.
Family firms come in all sizes and sectors and many have been around for hundreds of years, successfully passing from generation to generation. In fact the oldest direct lineage family firm dates back to 1515, RJ Balson the butchers on the High Street in Bridport which is now in the 26th generation and clearly demonstrates that family firms have the ability to last successfully for generations. Family firms can be found the length and breadth of the UK and they are the fabric of the communities in which they operate, providing jobs, income, creating wealth and supporting communities.
As a sector, family firms really are the engine room of the UK economy with around 5 million family firms in the UK today providing more than 13 million jobs and accounting for around 25% of GDP. Clearly, the family business sector is a force to be reckoned with and one that deserves to be recognised. We are proud to be a family business and to have been in operation since 1987, now in our second generation
Organised annually by Family Business United, the award-winning magazine and resource centre for family firms, the event is now in its eighth year and continues to grow year on year. Paul Andrews, founder of Family Business United explains, “This is a real day to celebrate the family business sector, businesses at the very heart of the nation and across all sectors of the economy too. Every part of life on a daily business is supported by family firms from the food and drink we consume, to the places we visit, the hotels we stay in, the homes we live in and the products that we use such as cars, hospitals and gyms. This diverse sector deserves to be recognised and National Family Business Day is a great way to put the sector on the map.”
Stuart Dantzic, Managing Director at Caribbean Blinds adds “we are proud to be a family owned and run firm, now in our second generation, spanning 34 years. The company continues to see significant growth, despite the uncertainty created by the global pandemic over the past 18 months. This is down, like the many successful family firms around the UK due to having a strong set of core family values, coupled with the ability to react quickly to market changes, adapting our business and implementing new strategies, continued investment and most importantly a genuine passion for what we do that which gives family firms a unique strength and resilience.”
Paul concludes, “Family firms have a story to tell, a real narrative borne out of families working in business together, creating a legacy that will hopefully endure for generations. It is this that makes family businesses special along with the underlying values such as passion, drive, integrity and desire to do the right thing time and time again. It may not have been the easiest of years but a day focusing on the family business sector provides a great opportunity to show our support for the sector.”