Grant Gordon is director general of the Institute for Family Business (UK). www.ifb.org.uk.
Family firms represent around half the output of the UK's privately-held economy. Even so, Grant Gordon believes there's scope for improvement
Family firms are an important part of the backbone of the UK economy and the primary constituency where they are represented is in the small business sector. A Barclay's Bank survey carried out in 2002 noted that three in five firms with turnover of £5m or less are owned or managed by related family members.