Immigrants Are the Original Entrepreneurs

We are in a boom time of new business formation, and many would never have begun but for 1) a global pandemic, and 2) the incredible work of (you guessed it) immigrants.

Over the past thirty years, immigrants to the U.S. have started businesses at greater rates than American-born citizens. In 2020, the rate of new entrepreneurs among immigrants was 0.59%, nearly double the rate among those born in the U.S. Some of the most important companies in tech were founded or cofounded by immigrants, including Google, eBay, PayPal, and Tesla.

And it makes sense: if you’re an immigrant who took a chance on a new country, you might be more willing to take a risk on a new business, too. From labor to entrepreneurship, immigrants are the lifeblood of our economy. We would miss opportunities if we fail to attract and retain them.

80

Share of Adults Who Started Their First Business

Source: Kauffman Foundation.