A recent survey by Credit Suisse found that family businesses make up only 8 per cent of UK businesses. In Germany, the number is 36 percent and in France 30 percent.
66 percent of these family businesses are owed by ethnic minorities.
In the UK, only 58 percent of family businesses have a fixed succession plan for when the principal retires, and of those, only 27 percent say they will keep the business in the family.
The UK is seen to be less encouraging to family businesses than the rest of Europe, and British family businesses are more highly leveraged and have a shorter term outlook than their European counterparts.
UK family businesses are mostly small businesses that have difficulty competing with larger firms with technology, especially in getting found on the internet.
Our Local Search Directory for UK Small Business is helpful in this regard since we have over 2 million pages indexed on Google UK, and the directory observes the web 2.0 model in being 100% free for these small family businesses.
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