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14/04/2016
Over 52,000 Employed By Top 100 Family Businesses
Northern Ireland's Top 100 family and locally owned businesses employ more than 52,000 people across the province.
The figures have been revealed in a report produced by the Ulster Business School on behalf of Harbinson Mulholland Chartered Accountants.
The Top 100 list revealed that the largest employer is Almac – 9th on the list – with 3,297 staff and the highest pay bill of £130 million.
For family-controlled businesses, Norbrook employs a total of 2,045, John Graham employs 1,645 and Wrights Group employ 1,552.
In all, 14 of the companies listed showed an increase in pre-tax profit of more than 100% over the previous year. The biggest leap in percentage profit, at 743%, was recorded by men’s fashionwear supplier Douglas & Grahame, whose pre-tax figures went from £212,000 to £1.788 million.
Alongside the report, the new Family Business NI Forum was announced, which will be setup by Harbinson Mulholland, accompanied by a call for all family-run businesses - not just those in the top 100 - to register for the forum in May at Belfast’s Ramada Plaza.
Darren McDowell, Partner in the Harbinson Mulholland Accounts and Audit Team, said: "This Top 100 list underlines that family-run and locally owned firms account for a huge proportion of Northern Ireland’s business community and are the backbone of our economy, with 72 of them being family-controlled.
"Such businesses operate across every economic sector and there is no doubt they face unique challenges in maximising financial performance while maintaining family control, as well as tax planning, succession management and introducing new blood into the business.
"We think of our own business as a family affair because of our history and ethos, so we understand what it takes to overcome these hurdles. That’s why we decided to publish this guide as a precursor to the Family Business NI Forum, where people will be able to share experience and advice."
(MH)
The figures have been revealed in a report produced by the Ulster Business School on behalf of Harbinson Mulholland Chartered Accountants.
The Top 100 list revealed that the largest employer is Almac – 9th on the list – with 3,297 staff and the highest pay bill of £130 million.
For family-controlled businesses, Norbrook employs a total of 2,045, John Graham employs 1,645 and Wrights Group employ 1,552.
In all, 14 of the companies listed showed an increase in pre-tax profit of more than 100% over the previous year. The biggest leap in percentage profit, at 743%, was recorded by men’s fashionwear supplier Douglas & Grahame, whose pre-tax figures went from £212,000 to £1.788 million.
Alongside the report, the new Family Business NI Forum was announced, which will be setup by Harbinson Mulholland, accompanied by a call for all family-run businesses - not just those in the top 100 - to register for the forum in May at Belfast’s Ramada Plaza.
Darren McDowell, Partner in the Harbinson Mulholland Accounts and Audit Team, said: "This Top 100 list underlines that family-run and locally owned firms account for a huge proportion of Northern Ireland’s business community and are the backbone of our economy, with 72 of them being family-controlled.
"Such businesses operate across every economic sector and there is no doubt they face unique challenges in maximising financial performance while maintaining family control, as well as tax planning, succession management and introducing new blood into the business.
"We think of our own business as a family affair because of our history and ethos, so we understand what it takes to overcome these hurdles. That’s why we decided to publish this guide as a precursor to the Family Business NI Forum, where people will be able to share experience and advice."
(MH)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
