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Family businesses will contribute £218 billion a year to the UK economy by 2018

First generation family-owned SMEs are set to see their revenues rise from £540 billion a year to £661 billion by 2018 – a 22% increase. This is according to a new report by Barclays Business which found first-generation family SMEs currently contribute £180 billion in gross value added (GVA) to the UK economy, an annual contribution that is set to rise by 21% in nominal terms, reaching £218 billion in 2018. The value of family SMEs, as a group, to the British economy is currently greater than that of the overall manufacturing and wholesale or retail sectors. The “Family Affair: Spotlight on UK Family SMEs” report, conducted by Barclays… #enterprise #retail

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