Family-run businesses form a vital part of the UK’s economy. They account for an impressive 88% of all private sector firms, collectively employing over 12 million people and contributing billions to the UK’s GDP. As a proud family-owned business, Matthew Douglas highlights why National Family Business Day is an important milestone for UK companies.

Although often perceived as smaller enterprises, family businesses span a wide range of industries, from local shops and restaurants to large multinational corporations. This diversity showcases the breadth of family entrepreneurship across the country. At Matthew Douglas, a family-run firm itself, we are proud to support National Family Business Day and the values it represents.

The importance of National Family Business Day

Celebrated this year on Thursday, September 18th, National Family Business Day is dedicated to recognising the invaluable contributions that family-run enterprises make to the UK’s economy and communities. These businesses, often passed down through generations, are built on the principles of heritage, resilience, and innovation.

Matthew Douglas, which was named ‘East and East Anglia People’s Choice ‘Family Business of the Year’ at the 2025 Family Business of the Year Awards, exemplifies these values. Led by Matthew Pescott Frost and his wife Rebecca, Director of Operations & Human Resources, the firm is grounded in family values that shape its approach to financial advice and client relationships. Their sons, Oliver and Thomas, are also accredited Independent Financial Advisers (IFAs), making Matthew Douglas a true multi-generational enterprise.

The Innovation of family-run businesses

Oliver Pescott Frost, an Independent Financial Adviser at Matthew Douglas, reflects on the significance of family businesses in the UK economy:

“Family firms play a crucial role across various sectors, sparking innovation and contributing to the growth of private enterprises. In the financial sector specifically, trust is paramount as we are essentially managing people’s livelihoods. The strength of a family business lies in the relationships we build with our clients, which are grounded in trust and mutual respect.”

Family businesses are often noted for their resilience and adaptability. They can weather economic cycles, technological changes, and societal shifts more effectively than some other business models. This is largely due to their long-term vision, strong values, and deep community ties. Unlike publicly traded companies, family firms tend to prioritise sustainability and legacy over short-term profits, which helps ensure their longevity.

National Family Business Day offers a chance to celebrate the success stories of these businesses, as well as to recognise the unique benefits they provide to the economy.

Matthew Douglas bucking financial trends

Matthew Pescott Frost, founder of Matthew Douglas, explains why family businesses are particularly suited to the financial industry: “In an era when many of our competitors are being acquired by large consolidators, we believe it’s vital to maintain a family-ownership structure. It seems counterintuitive for a business that manages intergenerational wealth not to be run by a family itself. Our personal approach allows us to offer a level of trust and continuity that larger firms often can’t match.”

This ethos of family-led stability and client care sets Matthew Douglas apart in an industry where consolidation and impersonal service have become common.

The Role of Family Business United

National Family Business Day is championed by Family Business United (FBU), an organisation founded by Paul Andrews to promote the interests of family-run businesses. FBU plays a crucial role in supporting these enterprises through a range of initiatives:

  • Awareness Campaigns: FBU raises the profile of family businesses across social media, in the press, and through its own platforms, helping to highlight their economic and social contributions.
  • Educational Resources: They provide webinars, articles, and guides to help family businesses tackle key issues like succession planning, governance, and innovation.
  • Networking Opportunities: FBU facilitates connections among family business owners, offering a space to share experiences and strategies for success.

Paul Andrews, CEO of Family Business United, underscores the importance of the day: “National Family Business Day is a vital opportunity to shine a light on the remarkable contributions of UK family firms. These businesses are the backbone of our economy and our communities, and their dedication and hard work deserve recognition.”

Celebrating Family Business Success

On National Family Business Day, communities across the UK come together to celebrate the achievements of family businesses, both in person and online, with the hashtag #GBFamilyBizDay. 

To learn more about National Family Business Day, visit www.familybusinessunited.com or watch our short video below. 

To find out more about our team, click here.