A long held misbelief is that immigrants are somehow a drain on the U.S. economy - they take our jobs and burden our social services programs.
That is simply not true.
Independent research shows that immigrants, especially immigrant entrepreneurs, benefit our economy - and create jobs. The President recognized this in his immigration reform speech on November 20th, 2014 and his subsequent memorandum. Several states and cities recognize this and are developing programs to support immigrant entrepreneurs. See AS-COA Report.
The Kauffman Foundation recently issued a report stating that immigrants are twice as likely to start a business, and that these businesses create American jobs. See Kauffman January 2015 Policy Brief. In 2012, in the engineering and high-tech sectors alone, immigrant-founded firms employed some 560,000 workers and generated $63 billion in sales.
Immigrant entrepreneurs also benefit the main streets of American. It is estimated that 28% of small businesses are owned by immigrants. See AS-COA Report. These businesses make a direct contribution to the economy - they hire workers, purchase goods, pay taxes and increase competition and innovation. They also play a critical role in making neighborhoods attractive places to live and work.
Despite these obvious benefits, the Unites States does not make it easy for these immigrant entrepreneurs to start businesses here. There is no start-up visa like there is in Australia, Canada, the United Kingdom, and other countries. Rather, an entrepreneur must develop a creative strategy and hope to get a visa that sort-of fits their business.
Or, they simply take their idea, future jobs and revenue to a country whose immigration policy welcomes them.
If you are looking to create or expand your business in the United States, contact us at TheTeam@HuWeLaw.com to learn how.