Immigrants accounted for almost 30 percent of the U.S. new businesses in 2014, according to a startup activity analysis. Foreign-born entrepreneurs started new businesses or became self-employed at almost twice the rate of the native-born Americans. Researchers found that immigrants created on average 520 companies a month per 100.000 people and that in 31 of the 50 largest metro areas in the country, they were responsible for most of the venues on “Main Street”, including beauty salons, restaurants or groceries.
Latino immigrants make a large share of these new enterprisers. Their share increased to 22.1% in 2014 from 20.4% the year before. About 93% of self-employed Hispanics had 10 employees or fewer and were likely to develop family-owned businesses. Researchers also found that about 25% of Latino companies have mostly non-Latino costumers. The rise in immigrant-owned businesses is partly due to the fact that more high-skilled foreign nationals came to the U.S. in the last few years, and they chose to channel their knowledge into their own firms.
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