What makes an SME/family business different? We hear so much about a global world for every aspect of our lives, sometimes making the term ‘family business’ be associated with something that is from another era or ‘old-fashioned’. But if you think that’s the case, then think again………………
Below, we have listed a few statistics which show the huge contribution SME Family Businesses make to the UK economy, as well as distinguishing what makes a family business so different...
Within the UK alone there are over 4.8 million family businesses, in every possible industry sector that you can think of, but more importantly over 16,000 of these are medium to large sized businesses – generating over a quarter of UK GDP and employing over 12 million people. Even more importantly, they are growing! Some huge household names are among them, and many are members of the IFB (Institute of Family Business).
Think of names and brands such as Dyson, Specsavers, Portakabin, JCB and many more, plus some huge organisations whose names are not always as widely known but include global brands and products with turnover into the billions and tens of thousands of employees. But the backbone of these are the Small to Medium sized businesses employing hundred’s, rather than thousands. There is nothing ‘Old-fashioned’ about it.
Good Travel Management’s parent company, John Good & Sons Ltd, are one such business, established in Hull 1833 by John Good as a ship’s chandlers the company has evolved into an internationally successful shipping, logistics and travel business and was this month awarded the accolade of the 16th fastest growing UK business for international trade in the Sunday Times HSBC track 200!. Still in the same private family ownership since its inception, employees, customers and suppliers benefit from the stability and long-term strategy of a great company to work for or to work with.
So how does this affect a customer and what makes Good Travel Management, as a family business, different from so many other travel businesses in operation?
Read our Blog HERE to find out now..
* Infographic statistics taken from the Institute of Family Business, Data sources from The State of the Nation: The UK Family Business Sector 2018-2019.