US immigrants more likely to initiate a business compared to non-immigrants
A survey has been conducted on US immigrants and originated some facts which conveyed that many US immigrants have great tendency to begin new business rather than native US citizens. This report was initiated by Office Advocacy of US small business administration which was highly concerned about small businesses. The study tinted on immigrant entrepreneurs who are having access to capital funds. From this report, it is drawn that 10% of US immigrants are running their own businesses and nearly 20% of them had kept start up investment as USD $50,000 and more whereas native US citizens got only 15.9% in investing such capital on businesses.
Chief Counsel for US advocacy, Winslow Sargeant avowed that immigrant entrepreneurs are required for US in order to make it more competitive. He stated his viewpoint towards immigrant entrepreneurs as “Reminders of American Dream”. The report also explored that the source of capital for US immigrants is family or personal savings. Other sources incorporate credit cards, home loans, bank loans, etc. Overall, it is determined by survey that two thirds of US immigrants have their own businesses. However, sources of startup capital are almost similar for both immigrants and non-immigrants.
Finally, the report explored that immigrants have a proficient tendency towards entrepreneurship and recommended that obstacles in accessing financial capital is required to be eliminated to ensure potential continuity.
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