Recent research of the Institute for Family Business (IFB) did not come unnoticed in the mainstream business press. One fact, however, was not pointed out. Large non-UK family businesses contribute significantly to the UK economy.
The report of the IFB presents the results of an investigation into the most significant UK registered businesses, as measured by turnover higher than £500m to identify the proportion of family-owned firms. This study, identified the largest family businesses, their ultimate owning entities or parent companies, and distinguished the latter from wholly-owned subsidiaries.
The report revealed that non-UK families own 8.1% of all the large businesses accounted (126 out of 1551). Almost the same proportion stands for the non-UK family parent businesses – 9.1% (84 out of 924 firms). At the moment, around 20% of the UK large businesses are family-owned, of which non-UK families own almost half. Research supports the evidence that stability of the British political system and unique benefits of business and financial infrastructure are attractive for foreign HNWs.
Emerging economies brought to the UK several large family-owned businesses like Kaz Minerals PLC (turnover £1,694,000 thousand and 13,772 employees), and Nadezhda Limited (turnover £3,911,400 thousand and 1301 employees). Traditional large European family-owned businesses feel comfortable in the UK, with examples like Lac Lux Holdings S.À RL, which owns Heineken UK Limited (turnover £1,425,000 thousand), or Kuehne & Nagel International Ag, which owns Kuehne + Nagel Limited (turnover £1,581,663 thousand).
Oracle Capital Group has extensive experience in a range of matters and particular expertise in helping families from emerging economies countries to relocate to Great Britain by assisting with all practical and legal issues. If you plan to move to Great Britain, we will help you resolve any practical and legal matters concerning the relocation of your family, alongside other issues relating to business administration and management in the United Kingdom.