Family businesses call for more govt support

Wednesday 14 November 2012

Customer service

A significant number of family business owners believe the government does not recognise the importance of their companies to the economy.

PricewaterhouseCoopers (PwC), which surveyed almost 2,000 family businesses in 28 countries across the world, found that 47 per cent of those registered in the UK are growing at present.

Some 12 per cent are aiming to grow "aggressively" and a further 69 per cent steadily.

Of these companies, 91 per cent are confident of achieving this growth.

But, despite this positivity, the majority of the respondents do not feel their government appreciates them.

Sian Steele, director and head of family business at PwC, said such companies are looking to the government to provide them with more support.

"This is not just through better access to finance and removing tax disadvantages, but through the provision of incentives to start-up family businesses," she stated.

Ms Steele said the government should provide some recognition for the role family businesses play in the UK economy in terms of stability, job creation and entrepreneurial spirit.

She said they are "key to the recovery of the UK economy", contributing 25 per cent of the country's gross domestic product and employing over nine million people.

Posted by Dan Smith