Support for family capitalism

Support for family capitalism
DUNDEE is suffering the consequences of an inevitable decision made in the US to relocate NCR manufacturing to Hungary. Inevitable, because capital always migrates to a cheaper manufacturing base.

This fact yet again highlights the national economic importance of indigenously-owned and -controlled private businesses, the vast majority of which are family-owned. Business families are far less likely to migrate than capital and more likely to reinvest in sustainable, long-term economic success in a local area and a nation with which the family is connected.

It's estimated that there are more than 85,000 family-owned businesses in Scotland and that in the UK family enterprises represent more than 75% of all registered companies. A lot more needs to be done to support these hidden heroes of our economy and reduce the risks of more NCRs. Legislators and policy-makers might ask the family business community what they think should be done to make Scotland the best small country in which to own and run a family business.