Immigrants contribute majorly to the growth of US business

USA is a nation of Immigrants, some of them may be legal or some may be illegal too. The immigrants have always played a major role in building up nations like USA and Canada. There is no field where the contributions of immigrants can be denied. Every sector has a considerable number of immigrants making their presence felt by some noticeable work or the other.

In a recent study, it has been revealed that immigrants in USA are doing a wonderful job as entrepreneurs. Till two decades ago almost 12% of the small businesses were owned by the immigrants. Now they own almost 18% of such businesses, in spite of them making only 13% of the entire population.

Most of the immigrants are in the business service sector and retail and construction business while a considerable number of them are involved into education, social services and hospitality jobs.

David Dyssegaard Kallick of Fiscal Policy Institute says, “It is not that they are super entrepreneurs, but they do come here as risk takers as they pull up roots from their own country and look for a fresh start.”

The immigrant entrepreneurs own up restaurants, real estate firms, and grocery stores. It will be appreciated to understand that 29% of the businesses are owned by women in compared to that owned by 28% of the native females of USA.

These entrepreneurs not only make money for themselves but their efforts open up job vacancies for others too. creating employment for the citizens and appreciating the productivity of the nation.

Almost 5 million U.S. workers have been employed by immigrant owned firms creating revenue of approximately 800 billion.

People like Greg Fairchild, associate professor of Business Administration at Darden School of Business says, “Why immigrants might be more inclined to own a business is often a matter of necessity. Most of the successful businesses in the tech and hospitality sectors are run by leaders with immigrant backgrounds.” He fears that the natives may lose their competitive edge if they don’t change.

People also say that the degrees these immigrants earn from their home countries are not known by the employers in USA; hence they start a business of their own to survive.

At present almost 1, 40,000 immigrants come to USA every year and the possibilities are that in the absence of any job most of them would start a firm of their own.

Experts suggest to allow visas to skilled and educated professionals and to grant residency status to the graduates coming out of top universities. They feel this is the only way to curb immigrants from dominating the small business sector.

However, there are other set of people who strongly support these entrepreneurs as they value their contribution to the appreciating productivity of the USA. They feel, in absence of these immigrants USA would have taken even longer to be the leader of the world in economic terms.

Andrew Harish - About Author:
Canadaupdates is the leading website providing latest immigration from the world over. To get more news about the immigrants in USA, please visit: www.canadaupdates.com

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