20% of all US business owners are first-generation immigrants

20% of the total Business owner It is the first generation immigrant in the United States. This is despite the fact that only 13% of the US population is made up of foreign-born immigrants known as first-generation immigrants.

The announcement of first-generation immigrants as one of the leading entrepreneurial groups in the economy was the discovery of scores.Main Street Megaphone: Unsung Entrepreneurs‘ report.

SCORE is the largest network of volunteer professional business mentors in the United States dedicated to helping small businesses launch. The report included SCORE, which surveyed more than 3,270 respondents and analyzed the responses of 2,918 business owners.

Participants represented different industries and geographical locations across the country.

20% of U.S. Employers Are First Generation Immigrants

According to the survey, veteran business owners also play an important role in the business community, with 9% of their businesses being owned by veterans. 7.6% of the US population is veterans.

Angkor entrepreneurs are another major group identified in SCORE’s report as “unknown” businessmen. Entrepreneurs in Angkor are business owners over the age of 55. This is one of the fastest growing groups of business owners.

More than half of US business owners are veterans of Angkor

According to a SCORE report, more than half (50.9%) of all US business owners are 55 or older. This is despite the fact that individuals over the age of 55 make up only 21% of the US population.

The SCORE survey provides important insights into the US business community.

Despite being unprecedentedly hit by a pandemic and subsequent turmoil in the last 18 months, entrepreneurial people are determined to fight back and make their business venture a success.

Immigrant entrepreneurs who are likely to hire more staff

Immigrant entrepreneurs are steering the “comeback” of their business by adopting growth strategies such as hiring new staff. Studies show that about 35% of immigrant-owned businesses are more likely to hire additional staff than less than 25% of native-born business owners.

Main Street Megaphone Author: Immigrant Entrepreneurs Summarize This Statistics, writing:

“Even in the turmoil of Covid-19, immigrant business owners are more likely to plan to add new employees.”

Financial support

The report also looks at the financial support that various groups of business owners receive to help fund their ventures. Immigrant entrepreneurs have sought many forms of financial support, but found it unlikely to receive them.

For example, of the 28% of immigrant entrepreneurs who are more likely to apply for an SBA loan, 12% were less likely to receive a loan. Regarding grants, only 8% of migrant entrepreneurs were likely to apply, and nearly 29% of them were unlikely to receive grants.

According to the report, the entrepreneurial group is more likely to use personal savings, credit cards, and loans from friends and family to finance their businesses.

The conclusions of the SCORE survey are fresh to know that so-called “unknown” groups, including immigrant entrepreneurs, are thriving in the US business community, but business owners in all areas provide financial support. Support needed to further your business, including.


20% of all US business owners are first-generation immigrants

Source link 20% of all US business owners are first-generation immigrants

Related Articles

Back to top button