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Small Businesses

Volume 458: debated on Monday 19 March 2007

To ask the Secretary of State for Trade and Industry what definition he uses of ‘family business’. (126129)

[holding answer 8 March 2007]: There is no standard definition used for ‘family business’. A common definition, used by the DTI in its Annual Small Business Survey, is that a family business is one

“majority owned by members of the same family”.

The 2005 survey found that 65 per cent. of all small and medium-sized enterprises were family businesses.