Waikato University senior lecturer in finance Dr Nirosha Hewa Wellalage says the family business model is common among migrant entrepreneurs. But outside of a pandemic, she said family businesses struggled to expand and typically failed after the second generation. However, Auckland Chamber of Commerce chief executive Michael Barnett says the family business model increases the risk of compliance failures. “For many of the migrant businesses in the service sector the issue is understanding the rules and compliance,” Barnett says. Wellalage says she is not surprised to hear migrant businesses are doing better than they had expected because the same trend was seen after the GFC overseas.

Source: Stuff April 03, 2021 17:00 UTC