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Immigrants are more likely to start companies

| Feb 25, 2021 | Immigration

Have you ever heard someone say that immigrants are a major part of the U.S. workforce and actually help the economy? That person may have been referring to immigrants who become employees at U.S. companies and help them thrive, and this is an important part of what immigrants offer to the economy.

However, studies have found that it goes much further than that.

Examine the key statistics

The reality is that it’s far more likely that an immigrant will become an entrepreneur, i.e., starting their own business, than it is that a U.S.-born citizen will do so. In fact, it’s nearly twice as likely that immigrants will open their own companies.

For instance, one study found that 310 out of 100,000 people in the United States, regardless of status, started their own business in any single month. That’s a total of 0.31%, and it includes both U.S.-born business owners and immigrants.

However, if you filter the data for immigrants only, it rises starkly to 520 immigrants out of every 100,000. That comes in at 0.52%. It’s very clear that immigrants start businesses at a vastly higher rate, even if most people in either group do not become entrepreneurs.

What steps do you need to take?

Are looking to immigrate and start your own business? Or maybe you are already in the United States and considering the steps you’ll have to take to  legally remain. To give your new company the best chance to thrive, make sure you fully understand the process.

The immigration laws are complex and in a near constant state of flux. It is prudent to seek guidance when you have much at stake to lose.