Data shows the UK was home to 4.8 million family businesses in 2020, making up 85.9% of all private sector firms and employing 13.9 million workers.
The majority of these businesses are considered very small, with sole-traders making up three-quarters and a further 21% having between one-in-nine employees.
Family run businesses can have a myriad of positive internal qualities including integrity, loyalty and trust, which can foster an attractive company culture. Despite this, you only have to look to LinkedIn to see the many stories which warn employees of the perils of family owned firms.