The construction sector has the highest number of family businesses in the UK, according to research conducted by Cynergy Bank.
It found that there are 574,275 family firms out of a total of 1,007,500 private construction businesses with two or more family members in management positions.
|SME Sector||Total number of family firms|
|Hospitality & Leisure||84,865|
According to the study, 78% of family business owners say family firms have a stronger culture and set of values than other types of business, but they also wish they could put more distance between their work and personal lives. 55% say there are no clear boundaries, while more than half say that disagreements about how to run the business can create significant tensions.
Two in five family business owners (41%) intend to pass the business on to a relative when they retire, with a further 37% saying they might to do so.
TradesTalk held a Twitter chat about family businesses earlier this year and lots of tradespeople joined in to share their experiences of working with family members. Most agreed that it is a good thing…
Friendship loyalty and love
— Andy Cam (@CosyWarmPlumber) June 4, 2019