A recent study says that the likelihood of the migrants to the US starting a business in the country is much higher, as compared to the natives of the US. The study continues that one-tenth of the migrants in America have their own businesses. In addition, close to two-fifth of the ventures owned by the immigrants has a net worth of USD$50,000 or more in startup capital, vis-à-vis just 15.9% for the businesses owned by the non-immigrants.
Meanwhile and talking about the development an involved person was quoted as saying that overseas businessmen are crucial for the overall growth and economic development of the country. He added that businessmen from abroad also give the nation the much-needed comparative edge.
The research adds that nearly 33% of the businesses owned by the overseas businessmen have personal or family savings as their key source of startup capital even as bank loans, home equity loans, and credit cards are some of the other widely reported sources. The research in question also shows that these sources are akin to the businesses owned by the non-immigrants.
The research continues that migrants have a liking for entrepreneurship and that the roadblocks between entrepreneurs from abroad and access to financial capital must be done away with a view to boosting the unused potentials of this highly crucial class.
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