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Why you need to keep family business in business

- September 18, 2020 2 MIN READ

September 18 is National Family Business Day. Usually, the day is a cause for celebration, however with the coronavirus crisis crippling businesses all across Australia, now more than ever, family businesses need our support.

Small businesses are said to be the backbone of Australia’s economy if so, family business is the heart. That’s why now we need to show our support for our local family businesses.

Australian small business and family enterprise ombudsman, Kate Carnell, said the best way to show your support for family businesses is to spend locally.

“Whether that’s at a mum-and-dad owned bricks and mortar store such as the town butcher or by shopping online via social media campaigns such as ‘Click for Vic,’ “Buy From the Bush,” “Empty Esky,” “Spend With Them” and “Stay with Them” – to name a few.”

It’s a sentiment shared by  Dale Dixon, Head of Product, at cloud accounting solution MYOB.

“This year, more than ever, we’re encouraging Australians to support family-run businesses on National FamilyBusiness Day, many of which have been hit by COVID restrictions,” Dixon told KBB.

MYOB data shows three in five of Australia’s 2.4 million small to medium-sized businesses anticipate it will take more than 6 months to recover to pre-COVID levels of profitability. Many of these are family-run.

Family businesses are a significant contributor to the economy, making up around 70 per cent of Australian businesses. For those still operating under restrictions, look at purchasing vouchers for future use where you’re able. We’re encouraging consumers to support wherever they can, particularly today, and help fuel their recovery at the end of a challenging year,” Dixon said.

Family Business Australia CEO Greg Griffith said this year has not been easy for Australia’s family businesses but the FBA is encouraging business owners to celebrate even the smallest of wins.

today, we are celebrating you. Thank you for all you do for our country, our community and our economy!

“We’ll be recognising your achievements with a virtual Morning Tea and across our social media” Griffith said.

He suggests any family businesses in need of inspiration on how to celebrate National Family Business Day should get together with family and friends to celebrate and use teh hashtag #NFBD20 on social to share the love.

Wave your family business flag with pride!

Are you a family business? get in touch with KBB and share your story. Find out more about Family Business Australia

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