Due to the strong working culture of ethnic minorities, franchisors are actively targeting these groups as a main source of future growth.
The largest ethnic groups in the UK are Indian, Pakistani, Chinese and Black Caribbean. It is however Asian communities that have the highest rate of self-employment, even more than the national figure. This is mainly due to a strong motivation to be independent and a keen interest in entrepreneurial activity.
Asians, and Britons of Asian origin, therefore form an entrepreneurial pool of potential in which franchisors can delve into, with many Asians already finding success in the franchise industry.
But what is it that makes Asians such good business people? The close family upbringing and involvement in the family business from an early age helped the second and third generation to become business oriented. The first generation created the stereotype of the corner shop and brought their children up in a house where business was always discussed. This helped steep them in the values of hard work and owning your own business.
Where many white children are taught the value of education in order to get a professional job, many Asian children strive to have their own business, which to them is the pinnacle of success. Doctors, lawyers, dentists are considered lower down the scale than someone who works for him or herself. Asians look up to people like Richard Branson who built their business from scratch and are now highly successful.
Taking risks is a desired trait of an entrepreneur, and by immigrating to the UK first generation ethnic minorities undoubtedly took risks. Making a start from nothing also helped breed a hard work ethic. Many ethnic shopkeepers work around 18 hours a day to help provide for their children’s education and build their business. They fear failure and so compensate for this by working ever hour necessary.
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