Immigrant Entrepreneurship & Business Success A Community Dialogue on Immigrant Entrepreneurship &...

A Community Dialogue on Immigrant Entrepreneurship & Business Success

Transcript of Immigrant Entrepreneurship & Business Success A Community Dialogue on Immigrant Entrepreneurship &...

A Community Dialogue on Immigrant Entrepreneurship &

Business Success

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Immigrants who arrive in Maine bring with them varied skil ls and


Immigrants have a high entrepreneurial drive and are 30% more likely to start new businesses

than native-born. Center for an Urban Future: “Immigrant Entrepreneurism: An Engine for Economic Recovery” December 2009

Immigrant entrepreneurs face many barriers to launch a

small business.

Barriers for immigrant

entrepreneurs include limited English proficiency, cultural barriers, and a limited business experience and/or regulatory processes of the US.

These challenges can prevent immigrant entrepreneurs from successfully launching a business.

A secondary barrier faced by

immigrant entrepreneurs is

an inability to access financing and start-up capital. Most

entrepreneurs require some start-up funding – often in the form of

loans. Most financial institutions require a good credit history and

proof of income to qualify for financing.

Immigrants as business owners contribute to economic

distressed area…because they have limited capital to start up their businesses and they only can afford lower rents…they can market their products and services to low and

moderate income people. Neighborhood main streets, and

storefront businesses are well represented by immigrants.

JPNDC Report: “Immigrants as Small Business owners”

In the United States, immigrants now launch more than a quarter of

businesses. Inc., Magazine ,“The Most Entrepreneurial Group in America Wasn't Born in America”

November 2014

From 1996 to 2011, the business startup rate of immigrants increased by

more than 50 percent, while the native-born startup rate

declined by 10 percent.Immigrants today are more than twice

as likely to start a business as native-born citizens.

Inc., Magazine ,“The Most Entrepreneurial Group in America Wasn't Born in America” November 2014

46 %of America's top venture-funded

companies had at least one

immigrant founderInc. Magazine: “Immigrants Found Nearly Half of Top Start-ups” December 2011

Immigrants are founders of nearly half of America’s Top

50 venture-funded companies.

Between 2000-2011, the foreign-born

population in Maine increased by 19.6 percent,

and in 2011, immigrants made up 3.3 percent

of Maine’s 1.3 million residents. Source: The Impact of Immigration Across the Nation

Size of foreign-born population


Percent of state’s population


Growth in foreign-born population

19.6%Source: The Impact of Immigration Across the Nation, 2011


nts have b

een in


l in

helping M

aine gro

w economica

lly in


nt yea


3.3%Share of businesses in Maine owned by


$119 millionAnnual business income generated by

immigrantsSource: Partnership for a New American Economy, 2006-2010

979 Latin

o$163.2 million sales and receipts


Owners by self-

identified race



$279.3 million sales and receipts


sales and receipts

Maine Minority Business Owners (Foreign-born & Native-Born)

Im m i g r a t i o n P o l i c y Ce nte r. “ T he P o l i t i c a l a nd E c o no m i c P o we r o f Im m i g r a nts , L a t i no s , a nd As i a ns i n the P i ne Tre e S ta te . ” J u l y 2 0 1 3 .

$45.6 million sales and receipts


“Immigrants …they are more likely to earn patents …

a quarter of new high-tech companies with more than $1

million in sales were founded by the foreign born … every

additional 100 foreign-born workers in science and technology

fields is associated with 262 additional jobs for U.S. natives.” Brooks, David. “The Easy Problem.” New York Times February 2013.

52% Increase in share of foreign born

STEM workers

32.9% of STEM graduates are foreign-born

Source: Partnership for a New American Economy, 2006-2010

Immigrants have been integral in helping Maine grow

economically in recent years.

Source: The Impact of Immigration Across the Nation, 2011

Two of the state’s largest companies, Fairchild Semiconductor International and the American Skiing Company, were founded by immigrants or their children. With corporate offices in South Portland, Fairchild Semiconductor International employs almost 8,000 people worldwide and brings in more than $1.5 billion in revenue each year.

Although the American Skiing Company sold its Maine ski resorts in 2007, their investment and expansion led to two resorts that employ a total of 400 people year round and more than 2,000 seasonal workers.

Over 120 Immigrant-Owned Small Businesses in Southern Maine

CEI StartSmart

Restaurants in PortlandAsmara RestaurantBabylon RestaurantBodaCrown Fried ChickenFederal SpiceFlores RestaurantHaggarty's Hi BombayLa Concina Dominicana

MiyakeNorthern Gardens

Pai Men MiyakeSarku Japan Sushi BarSengchai Thai Cuisine

Ten Ten PieTandoor Restaurant

Teriyaki ExchangeTipico

Tu Casa


Arwo MarketBanadir MarketBogousha's Polish DeliDiscount Halal MarketEbenezer StoreHaknuman MeancheyHong Kong Asian Market

Jazeera MarketLa Bodega Latina

Liban’s MarketMedeo European FoodMitpheap Asian Market

Moriah StoreNoor Grocery

Peace Food Halal MarketRiverton Gas & Convenience

Safari Grocery Store Sindibad Market

Tawakal StoreTigris Market

Veranda Asian MarketWestbrook Variety


AC Vasquez Painting Alverez Painting A-Z Wood FloorCarpentry Express Esi Remodeling Eugene Sherstyukov, Custom CarpenterM & M Flooring

Marie-Jeanne's CoutureGwani Styles

Expert Wireless Solutions & R. Fashion

Ahmed Auto Dubai Auto Sales, , Portland

Mulay Auto

The Children's House Home Health care



DIALOGUEMarch 18th Immigrant Economic Integration

May 1st Immigrants and the Creative Economy

June 8th Economic Opportunity Agenda and Celebration

Presented by the

World Affairs Council of Maine

in partnership with MIRC