The rise and rise of family businesses is good news for everybody; for customers who like to feel a local connection to where they buy their products, for business owners who have been able to 'keep it in the family' - potentially for generations, and for the government, who rake in over £100bn in tax from family businesses.

According to the research for the Institute of Family Business, more than 30,000 family-owned businesses have been set up in the UK since 2010 and now account for 39% of private sector employment – or 9.4 million jobs. Additionally, the family business sector makes up a quarter of UK Gross Domestic Product (GDP), while the £1.1 trillion the sector turns over is one third of total private sector turnover.

Buckinghamshire is home to many successful family businesses. Just one example is Mediplus, who research, develop, manufacture and market innovative medical devices and export them around the world.

Mediplus was formed 28 years ago by Bob Urie, a man with a desire to create a family legacy that will last for generations. Now, the business that was formed by him is gradually being passed on to his children in order to fulfil the dream of the family’s patriarch.

Bob takes up the story: “I always wanted my children to come on board and ensure that Mediplus remains a family business. My daughter Emma joined 16 years ago and recently filled my shoes as Managing Director. My son James joined 12 years ago and has worked his way through the ranks to be our Sales and Marketing Director. Both Emma and James joined Mediplus after gaining experience and skills in other businesses in other industries before becoming part of the family firm.”

Bob explains where his inspiration came from: “We follow the business model of the German company Merck, which was founded in 1668 by the Merck family. Despite mergers and the involvement of shareholders, the family still owns 70% of a business that employs 39,000 staff and had revenues of £8.5bn in 2013.

“The message is: a family business can still be a giant business. I said to my son and daughter, ‘we won’t be here in 300 years time to see if we’ve been successful, but let’s give it a go.’”

Their exporting success lead to Mediplus winning The Queen’s Award for Enterprise in International Trade in 2013 after six years of year on year export sales growth, as well as Best International Trader at the Buckinghamshire Business Awards in 2010 and 2011.

One philosophy of family business is one that should be passed onto all types of businesses; that of long-term, sustainable planning. If a parent is handing their businesses down to their children, the last thing they are going to do is burden them with an unsustainable business model and a mountain of debt. Instead, they will strive to create the genesis of a growing, successful company that could emulate the Mercks of this world.

If you are in business, no matter how small, why not enter the Buckinghamshire Business Awards? There are 9 categories to choose from including Manufacturer of the Year, but hurry as entry forms must be submitted by 31 January 2015.  For more information including entry forms please click here.