Access to capital needed to scale family businesses

Almost two in three Irish companies are family run, but Government supports are needed in an increasingly competitive landscape

Ireland’s family businesses are not just economic contributors – they are 'custodians of community wellbeing, multigenerational reinvestment and national resilience'. Picture: iStock

Family businesses form a cornerstone of Ireland’s economy. According to the DCU National Centre for Family Business, these enterprises account for about 60 per cent of all companies in the State. Collectively, they represent more than half of the Republic’s GDP and more than half of its employment.

“These businesses are critical to driving employment, innovation, regional development and social inclusion in our communities making them critical for Ireland’s future sustainable economic growth,” says PwC Private leader John Dillon.