"The Quakers – more formally known as the Religious Society of Friends (Quakers) – have a history of nearly 400 years in Britain and the US. While Quakerism has Christian foundations, Quakers also emphasise moral commitments to peace, truth, integrity, simplicity and equality – the five testimonies in Quaker theology. These came to define how Quakers approach the world, and their businesses.
As early Quakers were deemed radical and challenged the established church, they became persecuted by the state during the 17th century. They were excluded from political and public life, as well as from universities. Perhaps as a direct consequence, Quakers became highly active entrepreneurs and came to dominate many industries through a combination of their testimonies and outward entrepreneurial action.
This led to the reputation that Quaker firms had for trustworthiness and integrity. Their impact was perhaps so acute as to represent a distinctive form of ethical entrepreneurship."
