A recent study has found that US immigrants are more likely to start a business than native-born US citizens. The study was conducted by the Office of Advocacy of the US Small Business Administration an independent group that voices concerns from small businesses to the federal government.
study, titled Immigrant Entrepreneurs and Small Business Owners, and their
Access to Financial Capital found that 10 percent of immigrants in the US own
their own business. Furthermore, nearly 20 percent of immigrant-owned businesses
had USD$50,000 or more in startup capital, compared to only 15.9 percent for
"Immigrant entrepreneurs are essential to
our nation's growth and economic prosperity," said Chief Counsel for Advocacy,
Winslow Sargeant. "Immigrant entrepreneurs make our nation more competitive and
serve as reminders of the American dream."
study found that roughly two-thirds of immigrant-owned businesses reported that
their main source of startup capital was personal or family savings. Other
commonly reported sources of startup capital by immigrant-owned businesses
included credit cards, bank loans, and home equity loans. The study showed that
these sources of startup capital were similar to non-immigrant-owned
The study added that immigrants have a "proclivity towards
entrepreneurship" and that barriers between immigrant entrepreneurs and access
to financial capital need to be removed in order to maximize the "untapped"
potential of this group.
Global Visa Support offers a variety of programmes in
United States. Please visit
our USA page for more information: http://www.globalvisasupport.com/usa.html