Family-run businesses 'create 30% of UK GDP'
FAMILY businesses generate 30 per cent of GDP in the UK, the first major study into the area has claimed.
The sector accounts for over 40 per cent of privatesector employment – one in three jobs in the UK, according to the report by the Institute for Family Business.
Martin Stepek, chief executive of the Scottish Family Business Association (SFBA), said although no separate figures had yet been collated for Scotland, where top familyowned enterprises include shortbread maker Walkers, the proportion of family business north of the Border is likely to be as high as, or higher than the UK average.
He added he had called on the Scottish Government to carry out a similar report.
The latest statistics compiled by the SFBA show that there are around 60,000 family businesses employing about 900,000 people in Scotland.
Stepek said that the report showed family businesses were the "engine room" of the economy.
He said: "A family business is a doubleedged sword. People starting up a family business can get a lot of support in their first few months by having family members around them. However, it can get more difficult as time goes on, because emotion can get involved."
"The findings highlight the importance of, and justify our calls for, a national strategy that will guide future policymaking, education and development of the family business sector, furthering their contribution to the Scottish and UK economy," said Stepek.
Original source : Business.Scotsman.com
