National Family Business Day, observed annually on the third Thursday in September, is a significant event dedicated to recognising the invaluable contributions of family-run enterprises to the UK’s economy and communities. This year, it falls on 19 September. These businesses, often passed down through generations, embody heritage, resilience and innovation.
At Croxsons, we are proud to be a part of this vibrant community. Family businesses form the bedrock of the UK’s economy, accounting for an impressive 88% of all private sector firms, employing over 12 million people and contribute billions of pounds to the national GDP. These enterprises 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 such as ours, is the ability to adapt and thrive through economic cycles, technological advancements and societal changes. This resilience is often attributed to our 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), founded by Paul Andrews, plays a crucial role in organising this day and advocating for family-run enterprises. FBU promotes the interests of family businesses through various initiatives and resources, providing 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.
On National Family Business Day, communities across the UK come together to celebrate the achievements of family businesses, with numerous 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 navigates the complexities of the modern economic landscape, family businesses remain a pillar of stability and innovation. National Family Business Day is not just a celebration but also a call to action to support and nurture these enterprises, ensuring they continue to thrive for generations to come.
Emphasising the day’s significance, Paul Andrews said: “National Family Business Day is a vital opportunity to shine a light on the remarkable contributions of UK family firms. These businesses are the backbone of our economy and our communities, and their dedication and hard work deserve recognition. 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. We champion and celebrate the family business sector each day, but the creation of a national day that shines a spotlight on the sector for all to see does amplify the family business voice across the nation. Family firms really do put the GREAT into Great Britain.”
Tim Croxson, Croxsons CEO, added: “National Family Business Day is a wonderful occasion to acknowledge and celebrate the unique strengths of family businesses. At Croxsons, we take pride in our heritage and our commitment to innovation and sustainability. This day is a reminder of the powerful impact family businesses have on the economy and our communities and it inspires us to continue striving for excellence. Our legacy is built on the foundations laid by previous generations and we are dedicated to maintaining those values while embracing new opportunities and technologies.”
Find out more about National Family Business Day and the work Family Business United does to champion family businesses at www.familybusinessunited.com.