TL;DR
Immigrants are the fastest-growing group of people following their dreams of business ownership, making up 27.5% of entrepreneurs, and the franchise industry can make small business ownership easier for them. The franchise industry is expected to grow 5.2% in nominal dollars in 2017.
The fastest-growing group of people following their dreams of business ownership are immigrants, according to a recent Entrepreneur article. This group makes up 13.5 percent of the population but account for 27.5 percent of entrepreneurs. Now, data shows that immigrants have a 0.53 percent rate of entrepreneurship for immigrants compared to 0.29 for native-born Americans. The franchise industry can make small business ownership even easier to accomplish.
“As a franchisee, I just have to follow the system and rely on the support they have in place to succeed” said Macdonald Vasnani, who runs a shipping business.
The franchise industry is expected to grow 5.2 percent in nominal dollars in 2017, according to the International Franchise Association.
In this story
This story was originally published in 1851 Franchise on May 10, 2017. Burnaze summarizes and links to the original reporting.
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