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Did You Know?

Family businesses contribute


of UK total tax revenues


Family Businesses account for


of UK private sector employment (9.5m people)


Family businesses generate


per annum of UK tax receipts




make it to second generation family ownership


Family businesses account for almost


of the overall UK GDP




fail to plan formally for succession


the ICFIB community

So who makes up the ICFIB Community? Those that put Families in Business at the heart of matters and those that are at the heart of matters

Of course a community should be diverse and comprehensive. It should be trusted and flexible. The ICFIB Community works to support families in business in four key areas:



With a clear purpose

To ensure that families in business have access to the best and most relevant support available to help them succeed

Through our values

  • Understanding
  • Transparency
  • Openness
  • Patience
  • Integrity
  • Confidentiality
  • Inclusion
  • Fun


What is the definition of a family business?

At ICFIB we focus on the family within the business as a priority so that both the family and the business can be success and continue in whatever and whichever way they wish to. We include family businesses and owner-managed businesses as part of this.

European Family Businesses, in collaboration with the European Commission and experts on family businesses from each member state, has been working with the goal to establish a recognized definition defining when a firm can be considered as a family business. In November 2009, after an important consultation process, the European commission formally recognized a definition of family business.

A firm, of any size is a family business, if:

  • The majority of decision making rights are the possession of the natural person(s) who established the firm, or in the possession of the natural person(s) who has/have acquired the share capital of the firm, or in the possession of their spouses, life-partners, parent, child or children's direct heirs.
  • The majority of decision-making rights are indirect or direct.
  • At least one representative of the family or kin is formally involved in the governance of the firm.
  • Listed companies meet the definition of family enterprise if the person who established or acquired the firm (share capital) or their families or descendants possess 25 per cent of the decision-making rights mandated by their share capital

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