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Almost half of hospitality firms are family run

19 April 2018 by
Almost half of hospitality firms are family run

Family partnerships make up 45% on the hotel and restaurant sector with 2.3 million more people working in family businesses since 2010, according to a new report.

The UK Family Business Sector Report, produced by Oxford Economics for the Institute for Family Business (IFB) Research Foundation, found that there are more than 153,000 family-run hotels and restaurant firms, employing almost one million people.

According to the report the turnover of family run hospitality firms has increased by £3.1b in the last year.

The IFB said that family businesses' GVA contribution to UK GDP had increased by £100b to £519b since 2010, meaning family firms now generate a quarter of UK GDP.

"The family business hotels and restaurants sector creates a substantial proportion of the UK's GDP, and we are proud to champion and delighted to celebrate this incredible contribution.

"Since 2010 there are a million more family businesses in the UK, proving that family firms are here to stay. Not only have family firms created an extra 2.3 million jobs since 2010, but their tax contribution each year is more than the annual NHS budget."

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Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

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