(OPINION) Immigrant Business Owners Are the Key to Supercharging America’s Economy

The U.S. was named the world’s most entrepreneurial country in 2021, thanks in no small part to the talent of foreign-born entrepreneurs. However, this title will not hold for long if current immigration policies persist.

More than half (55%) of U.S. startups worth $1 billion or more have at least one immigrant founder. Foreign-born entrepreneurs have historically played a key role in driving innovation and job growth in North America and their efforts are critical in creating a more resilient economy.

Immigrant-founded companies are key to growth

Research shows that private-sector job growth is significantly higher in regions with more startups and they created more than 3 million new jobs in 2020 alone.

With more than 4.3 million business formation applications coming in last year — and the likelihood that number will be even higher this year — there’s hope the 40-year downturn in entrepreneurship is coming to an end. But we need foreign-born business owners to help us reverse course.

Richard Burke, Entrepreneur, January 12, 2022
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