The Australian Small Business and Family Enterprise Ombudsman Bruce Billson is encouraging Australians to celebrate and support family businesses on National Family Business Day.
Speaking in a video marking the day, Mr Billson says family businesses need to be celebrated for the important role they play in our communities.
“Today is a day to acknowledge the extraordinary contribution family businesses make to our nation and communities,” Mr Billson says.
“Family businesses are key contributors to our economy – accounting for up to 70% of Australian businesses and employing as much as half of the workforce.
“Not only do they contribute in a long term capacity to Australia’s economy by transitioning the business to future generations, they also provide jobs to Australians and get behind local community organisations and events.
“Times are still incredibly tough for so many family businesses affected by the global pandemic. They really need community support to keep their doors open.
“The best way you can support and give back to family businesses is to spend locally – whether that’s at a mum-and-dad owned cake shop down the road or by shopping online.
“Their survival is critical to our broader economic recovery.
“Earlier this year, my office, in partnership with Family Business Australia, produced a guide to succession planning.
“Succession planning is a key issue for family businesses and this guide provides a step-by-step process to ensure the next generation are ready to take the reins when the time is right.”
You can see Mr Billson’s National Family Business Day video here.