QMYOU Alumni Magazine Issue 75 - Page 18

18 QMYOU / Sustainable Business

New research to show family business contribution to Scottish economy

Kenny Henry Picture Framer is a husband and wife business based in Ayrshire

“ Family firms account for up to 65 % of businesses in the UK , and provide two out of every five jobs within the private sector .

QMU AND THE SCOTTISH PRIVATE BANK , Adam & Company , are launching a major new study with the Scottish Family Business Association to investigate the importance of family businesses to the Scottish economy .

Leading the Scottish Family Business Survey 2012 at QMU are Dr Claire Seaman and Stuart Graham , Co-Directors of the University ’ s Scottish Forum for Family Business Research .
Stuart Graham commented : “ The survey is the first of its kind to be undertaken in Scotland . We know that family businesses are the most prevalent form of enterprise in virtually all economies around the world . What we don ’ t know is the more detailed profile of such businesses within the majority of these economies , Scotland being a prime example . The survey will contribute towards gaining a more informed insight into Scotland ’ s family business sector .”
Scottish family businesses can range from the village-based family grocery store , to companies with an international reach . There are also a vast number of agricultural land related businesses owned by families . These include food production , leisure developments , fruit farms , family adventure parks and sporting activities – all which are vital to the development of tourism in Scotland .
Graham Storrie , Managing Director at Adam , commented : “ Family firms account for up to 65 % of businesses in the UK , and provide two out of every five jobs within the private sector . They also contribute up to a quarter of GDP , and are vital to the success of Scotland ’ s economy , entering each of our lives far more than we realise , from the wine we drink , the food we eat and the cars we drive . Yet even today , much of their work goes largely unrecognised by society and they get very little help with tackling the unique challenges they face in areas such as business succession . A large number of our clients are from this sector , and so it ’ s essential that we fully understand their needs to ensure we can provide appropriate advice and support in a relevant and personal way .
Dr Claire Seaman explained : “ Family businesses are the bedrock of Scottish economies and communities , from both regional and local perspectives . Anecdotally we know that family businesses contribute in a significant way to local communities , often by their support for community activity such as their sponsorship of local sporting events or their charitable donations . As we enter a critical phase in Scotland ’ s economic recovery , it is all the more important that firms with solid roots in Scotland are well supported .
“ This study aims to provide the necessary information that will assist Government policy makers and business support professionals to provide tailored solutions for family businesses .”
The Scottish Family Business Association offers help and support to family businesses in Scotland and is working with Adam and QMU to ensure a great response rate for the survey .

18 QMYOU / Sustainable Business

“ Family firms account for up to 65% of businesses in the UK, and provide two out of every five jobs within the private sector. ” Q MU AND THE SCOTTISH PRIVATE BANK, Adam & Company, are launching a major new study with the Scottish Family Business Association to investigate the importance of family businesses to the Scottish economy. Leading the Scottish Family Business Survey 2012 at QMU are Dr Claire Seaman and Stuart Graham, Co-Directors of the University’s Scottish Forum for Family Business Research. Stuart Graham commented: “The survey is the first of its kind to be undertaken in Scotland. We know that family businesses are the most prevalent form of enterprise in virtually all economies around the world. What we don’t know is the more detailed profile of such businesses within the majority of these economies, Scotland being a prime example. The survey will contribute towards gaining a more informed insight into Scotland’s family business sector.” Scottish family businesses can range from the village-based family grocery store, to companies with an international reach. There are also a vast number of agricultural land related businesses owned by families. These include food production, leisure developments, fruit farms, family adventure parks and sporting activities – all which are vital to the development of tourism in Scotland. Graham Storrie, Managing Director at Adam, commented: “Family firms account for up to 65% of businesses in the UK, and provide two out of every five jobs within the private sector. They also contribute up to a quarter of GDP, and are vital to the success of Scotland’s economy, entering each of our lives far more than we realise, from 18 New research to show family business contribution to Scottish economy QMYOU / Sustainable Business the wine we drink, the food we eat and the cars we drive. Yet even today, much of their work goes largely unrecognised by society and they get very little help with tackling the unique challenges they face in areas such as business succession. A large number of our clients are from this sector, and so it’s essential that we fully understand their needs to ensure we can provide appropriate advice and support in a relevant and personal way. Dr Claire Seaman explained: “Family businesses are the bedrock of Scottish economies and communities, from both regional and local perspectives. Anecdotally we know that family businesses contribute in a significant way to local communities, o [HZ\\ܝ܈[][]BX]]HX\Z\ۜܜ\و[ܝ[™][܈Z\\]XHۘ][ۜˈ\H[\Hܚ]X[\H[[8&\XۛZXXݙ\K]\[H[ܙH[\ܝ[]\\]Yš[[\H[\ܝY '\YHZ[\ݚYHHX\\B[ܛX][ۈ][\\ݙ\Y[XBXZ\[\[\\ܝٙ\[ۘ[œݚYHZ[ܙY][ۜ܈[Z[H\[\\˸'BH\[Z[H\[\\X][ۈٙ\š[[\ܝ[Z[H\[\\[[[\ܚ[]Y[H[SUH[\HBܙX]\ۜH]H܈H\^K