Truro accountancy firm Francis Clark is calling on family-owned and managed enterprises to complete a new, online family business survey to establish the full range of issues that are challenging the sector.
Francis Clark partner, Scott Bentley, said: “We specialise in advising family businesses of all sizes and we have accumulated a considerable body of knowledge concerning the sector over very many years.
“The significant impact that family-owned businesses have on the UK economy cannot be underestimated. Over 65% of UK businesses are family run. They employ over 9 million people, accounting for 40% of all private sector jobs – but are they being sufficiently supported?
“Family businesses have unique attributes and requirements. Often they must balance making decisions for the benefit of the business that are rightly driven by logic with the impact that these may have on family relationships run by emotion.
“Do all family businesses recognise the challenges that are specific to them such as succession planning, business structure, remuneration and incentives? Have they thought about establishing systems and procedures to ensure continuity and do they know where to go to get the right advice and support?
“By analysing the responses to our survey, we will not only add to the existing body of knowledge but we will be able to provide evidence-based solutions to the many challenges that are specific to this type of business. We will be publishing a hard copy report which will be made available to respondents.”
The survey can be accessed by clicking here. For every completed questionnaire there is a chance to win a £250 gift voucher for luxury Devon resort, Bovey Castle. The results are expected to be published in March.