National Family Business Day, celebrated annually on the third Thursday in September, takes place on September 19 and is a significant occasion in the UK, dedicated to recognising the invaluable contributions of family-run enterprises to the country’s economy and communities. These businesses, often passed down through generations, embody the values of heritage, resilience, and innovation.
Family businesses form the bedrock of the UK’s economy. They account for a staggering 88% of all private sector firms, employing over 12 million people and contributing billions of pounds to the national GDP. These businesses span a diverse range of industries, from small local shops and restaurants to large multinational corporations, showcasing the breadth and depth of family entrepreneurship.
One of the hallmarks of family businesses is their ability to adapt and thrive through economic cycles, technological advancements, and societal changes. This resilience is often attributed to their long-term vision, strong values, and deep community ties. Unlike publicly traded companies, family businesses tend to prioritise sustainability and legacy over short-term profits, ensuring their longevity.
National Family Business Day is an opportunity to celebrate the success stories of family businesses across the UK.
Family Business United (FBU) plays a crucial role in organising National Family Business Day and advocating for family-run enterprises. Founded by Paul Andrews, FBU is dedicated to promoting the interests of family businesses through various initiatives and resources. They provide a platform for these businesses to share their stories, celebrate their successes, and address their challenges. FBU’s efforts include:
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.
FBU’s commitment to family businesses ensures that their contributions are recognised and that they receive the support needed to thrive.
On National Family Business Day, communities across the UK come together to celebrate the achievements of family businesses, with plenty of activities on social media using the hashtag #GBFamilyBizDay and in person events including a National Family Business Day Dinner all aimed at highlighting the positive impact of these businesses on society.
As the UK continues to navigate the complexities of the modern economic landscape, family businesses remain a pillar of stability and innovation. National Family Business Day is not just a day of celebration, but also a call to action to support and nurture these enterprises, ensuring they continue to thrive for generations to come.
Paul Andrews, CEO of Family Business United, emphasises the day’s significance:
“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.”
David Twiddle, Managing Partner, TWYD & Co coments:
“At TWYD & Co, we are proud to celebrate National Family Business Day alongside the many remarkable family enterprises across the UK. It’s a privilege to support these businesses in navigating their leadership and succession challenges, ensuring they thrive for generations to come. Today, we honour the past and future of family businesses, recognising their crucial role in building a stronger, more sustainable economy.”
Find out more about National Family Business Day and the work Family Business United does to champion family businesses at www.familybusinessunited.com