Oldest company calls on MP to support family businesses
ONE of the region’s oldest businesses, Toye Kenning & Spencer, based in Birmingham’s Jewellery Quarter, is calling on its local MP to join the new all-party parliamentary group for family business.
Toye Kenning & Spencer was founded in 1685 and is still family-run. Chief executive Fiona Toye said she hoped Shabana Mahmood, MP for Ladywood would join the new group whose intention is to help parliamentarians better understand the issues faced by the sector.
Mrs Toye said: “Family businesses are key contributors to the economy and our communities, generating income, creating employment and showing a commitment to local areas.
“Seeing ourselves as custodians of the business we value highly the talent within the company, our imaginative designers inspiring our craftsmen and women, who are experts in weaving, gold and silver wire and lace making, embroidery and enamelling. “
The new all-party group will undertake a number of activities to understand the issues facing family firms including site visits, briefings with the owner managers and an annual reception at the House of Commons.
Toye Kenning & Spencer is also urging Ms Mahmood to sign an Early Day Motion recognising the role of family businesses in supporting employment and economic growth and their value in terms of corporate stewardship and a commitment to social responsibility. The family business sector accounts for one in three jobs in the UK and contributes 30% of GDP
The all-party parliamentary group is to be sponsored by the Institute for Family Business, the independent, not-for-profit membership association supporting the UK family-owned business sector. The association has a membership of 200 family businesses, with a combined turnover of more than £40bn.
Toye Kenning & Spencer has a Royal Warrant and combines design, traditional skills and computer technology to produce a range of items to promote an organisation’s identity. The company creates state insignia, and civil and military identity products.
It has two main manufacturing bases: Birmingham and Bedworth. Its headquarters are sited in London’s West End, along with the corporate showroom and retail outlet.
