New research by Oxford Economics for the Institute for Family Business (IFB) Research Foundation reveals the vast contribution family firms make to the UK economy – employing over 11.9 million people and making up 87 percent of all private sector firms in the UK. Throughout the course of 2014, family businesses increased employment by an impressive six per cent, performing better than private sector firms as a whole, which grew at four per cent. Turnover also saw a strong rise, jumping by two per cent from the previous year to reach £1.3 trillion.