Join Alltel in Celebrating National Family Business Day!
Today we’re celebrating Australian National Family Business Day, which is a day designed to recognise the invaluable contribution family-run businesses make to the Australian economy, community and culture.
These businesses are the backbone of Australia, with many of Australia’s largest and most loved companies starting off as a family business. Iconic Australian brands such as Taylors Wines, Coopers Brewery, Akubra Hats, Rossi Boots, Raine and Horne, Haighs Chocolates (a personal favourite!), Maggie Beer, Myers, Ugg Australia, Bundaberg Brewed Drinks and even our most famous Aussie cossie—Speedo, started life as a family business—and many remain family owned today.
As is clear from the names listed above, a family-owned business does not necessarily mean a small business! Family businesses both large and small account for around 70% of all Australian businesses, employing 50% of the workforce.Here are a few facts and figures about Australian family businesses:
Family Business Sector
- Family businesses account for around 70% of all businesses in Australia1
- Average turnover is $12 million per annum3
- Average number of employees is 372
- 64% have less than 20 employees2
- 32% have 20-199 employees2
- 4% have 200 or more employees2
- 36% have only one generation involved in the business2
- 59% have two generations involved in the business2
- 5% have three or more generations involved in the business2
Age of business
- 84% are less than 50 years old2
- 49% are less than 25 years old2
- 11% of all family business owners are female and 89% male2
- 7% of daughters are actively involved in the business compared with 35% of sons2
- Sons are five times more likely to succeed the current CEO than daughters2
- KPMG and Family Business Australia Survey of Family Businesses 2009 (in conjunction with Bond University)
- The MGI Australian Family and Private Business Survey 2010 (in conjunction with RMIT University)
- The MGI Family and Private Business Survey 2006 (in conjunction with RMIT University)