Author: Megan Josland

Family Business Week 2024 to Focus on “supporting local economies and communities”

Posted on by Megan Josland

Family Business Week 2024 to Focus on “supporting local economies and communities”.

Family Business Week will return this year, from 25th – 29th November, to celebrate family businesses as the cornerstone of local communities up and down the country.

In every corner of the UK, Britain’s 4.8 million family-owned firms are key employers, creating meaningful careers for millions of people, and giving back to the communities they serve.

Now in its fourth year, Family Business Week will this year shine a light on the amazing work of family businesses across the country ensuring the contribution they make to our economy and communities is recognised and celebrated.

With events taking place across the country, the entire week is an opportunity for everyone to get behind family businesses and show their support. Family Business Week builds on our advocacy work to demonstrate to government the importance of family firms and the policies needed to sustain them.

Neil Davy, CEO of Family Business UK said:

“From local tradespeople, retailers, makers and tech innovator to some of our biggest and best-known brands, family businesses thrive in every corner of the country. They create wealth through valuable jobs and long-term careers, and social value by investing in the communities they serve.

In this context, Family Business Week is our chance to tell the world just how important family businesses are in our economy. Why not join us in a week of celebration? Join one of our events, reach out to your network – including your local MP – and help us to spread the word.”

Get Involved in Family Business Week 2024

Whether you’re a family business owner, employee, adviser or a policymaker, get involved and show your support.

  1. Show your support on social media
  2. Nominate a ‘Ones to Watch’ candidate
  3. Attend a Family Business Week event
  4. Invite your MP to visit on #familybusinessfriday
  5. Send your MP our Manifesto and back family business infographic

Family Business Week 2024 is proudly sponsored by our corporate partner, NatWest.

Andy Gray, Managing Director Commercial Mid-Market at NatWest said:

“Family businesses are the backbone of our economy and the bedrock of our communities. They make up 90% of the UK’s total private sector firms and employ 14 million people. At NatWest we see real opportunity to support family businesses to grow, innovate and create jobs over generations, driving the UK economy forward for the long term. We are committed to championing the sector and through our partnership we’re excited to meet and support FBUK members.”

Ones to Watch

Our ‘Ones to Watch’ nominations showcase the best and brightest talent in family businesses across the country – individuals who live and breathe the values of family businesses as the lifeblood of local communities and local economies.

Nominations are now open: Download the nomination form

Do you know a champion of local community? An innovator redefining strategy to support the local economy? Someone spearheading the campaign to make their family business a force for good?

Open to anyone working within the business, affiliated charity, foundation, community outreach programme or similar (they do not need to be a member of FBUK or a family member to qualify).

Why Nominate?

  • Celebrate the incredible work of a person in your business and show your appreciation.
  • Raise their profile, and your company’s.
  • Inspire other family business leaders.

How To Nominate

It couldn’t be easier to nominate someone from your business.

Send us an email with the subject ‘Ones to Watch Nomination’ to info@familybusinessuk.org with the completed nomination form attached.

We will then review and shortlist the nominees, and if the person you have nominated is successful, we will get back in touch with you, so you can share the exciting news!

Our judging panel will be considering several criteria when reviewing nominations, including:

  1. Investing in the local economy and community (nomination statement): What is this person doing to invest in their local economy and act as a force for good in the local community?
  2. Enriching your local area: Are there any initiatives which have been implemented to better the surrounding areas with purpose-led sustainability practices, provision of education, social housing, public resources, or improved high streets
  3. Providing employment: Does this person pioneer for the real living wage, job security, flexible working, training and progression, equality or LTIPs
  4. Supporting local suppliers: How do they support local suppliers? Are they using an innovative or creative approach to balance supply and demand?
  5. Local charitable giving: How do they use social value to tackle inequality?

We look forward to receiving your nomination and celebrating Family Business Week 2024 with you.

Family Business Week 2024 is proudly sponsored by our corporate partner, NatWest.

 

“Scrapping BPR could be catastrophic” FBUK tells Forbes

Posted on by Megan Josland

“Scrapping BPR could be catastrophic” FBUK tells Forbes.

Family Business UK has warned of the potential unintended consequences of scrapping Business Property Relief (‘BPR’) on family businesses.

Speaking to Forbes magazine, FBUK CEO Neil Davy said: “capping or scrapping BPR without fully understanding the consequences would be catastrophic for these [family] businesses, the sector, and the wider UK economy.”

Ahead of the Autumn Budget (30 October), the article in Forbes explores possible tax changes that have been mooted for review by the Government, including BPR.

Family Business UK has repeatedly talked about the importance of retaining BPR as part of a supportive policy environment that incentives family businesses to plan and invest for the long term.

A campaign calling on policymakers, MPs and supporters to Back Family Businesses, which was launched by FBUK this summer, asks government to retain BPR and give family-owned firms the support they need to thrive.

Commenting in Forbes, Neil Davy continues: “Business Property Relief is crucial to the long-term outlook and prosperity of family businesses, and the family business sector overall. BPR enables family businesses to be passed to the next generation without the business incurring costs which would otherwise be used to invest in training, job creation, new products and services or expansion into new markets.”

As the Back Family Businesses campaign continues, Family Business UK will keep members up to date with our activity. For regular member updates, and to read our magazine, ensure you sign up, and contact the team with any questions or queries.

FBUK Comments on King’s Speech

Posted on by Megan Josland

FBUK Comments on King’s Speech

Family Business UK is delighted to see a Bill to reform the skill training announced as part of the King’s Speech, which marks the official opening of Parliament.

The Skills England Bill will see a partnership between government and business, education, training providers and trades unions, creating a new body to oversee skills training.

Reform of skills training is a central recommendation of the Family Business UK Manifesto, Taking the Long-Term View where we call for:

  • Replacing the Apprenticeship Levy with a Future Skills Fund
  • Allowing greater flexibility in how businesses use the fund for skills
  • Removing barriers on spending between home nations
  • Encourage up-skilling and career-long learning

Commenting on the King’s Speech, FBUK CEO Neil Davy said: “We are delighted that the Government has committed to reforming the Apprenticeship Levy through the new Skills England Bill.

“The key to unlocking the true potential of family businesses, and the economy as a whole, is to create a culture of continuous improvement and investment in the skills of young people. The current system just doesn’t work and, reform was one of our key asks of government.

“A new system must give family businesses greater flexibility on how they allocate funding to support apprentices, life-long learners and help people looking to re-enter the workforce. Family businesses employ almost 14 million across the UK, so we are well-placed to support and implement these changes.

“We look forward to working with the Government on the new Growth and Skills Levy, ensuring the necessary reforms can help drive growth across the family business sector and the whole economy.”

The King’s Speech, delivered as part of the State opening of Parliament, contained 40 Bills, 14 of which were wrapped up in a section on economic stability and growth. This included Bills on: Budget Responsibility, National Wealth Fund, Pension Schemes, Planning and Infrastructure, Employment Rights and Audit Reform and Corporate Governance.

A detailed analysis of the King’s Speech from our partners SECNewgate can be found here.