Immigrant Entrepreneurs

Immigrant Entrepreneurs

Introduction

Immigrant entrepreneurs are the people who do not permanently live in a certain country or have migrated from another country and carry out their business in United States or any other immigrant country. According to United Nations statistics there are around 190 million people who migrate from one country to another. It makes around 3 % of the total population of the world (Rath, 2006). This number is increasing with the passage of time due to several reasons. One of the reasons is the increasing opportunities of work and business in developed economies such as United States and Europe. Globalization has played a significant role in the process of increasing immigrant entrepreneurs in the world. The low labor costs in several countries and the high expected growth and profit rate are some of the reasons of which entrepreneurs direct themselves towards other countries.

Earlier, there was a negative concept regarding the immigrant entrepreneurship that they take advantage of the resources of the country (Bhargava, 2012). However, due to increased globalization and interactions among the countries, the concept of immigrant entrepreneurship is gaining popularity. This paper provides details regarding the concept of immigrant entrepreneurship. It discusses the role of immigrant entrepreneurs in the strengthening of economies through their businesses. The role of government and the desired measures that should be taken by government are also provided in the paper.

Immigrant Entrepreneurs

Immigrant entrepreneurs can be considered as risk takers who are highly motivated to get success by entering into a new economy and try their potential for gaining success through business. The successful immigrant entrepreneurs are those who are keen for getting adventure, want to support their families, enthusiastic to earn experience and knowledge by engaging themselves into competition, possess tolerance for accepting failure and risks and holds big dreams for their future (Rath, 2006). It has been observed that most of the immigrants want to be self employed due to certain reasons present in the immigrant counties such as barriers in getting employment, lower exposure of the traditions and cultures and the presence of racial discrimination in most of the countries. These factors influence the immigrants to become immigrant entrepreneurs in the immigrant country. It has also been observed that most of the immigrant entrepreneurs do not initially come up with the intention of becoming immigrant entrepreneurs rather they come for earning a degree and pursue higher education (Bhargava, 2012).

However, due to the fast lives in the developed countries such as United States, they want to earn money along with their studies. In this way, they become inclined towards entrepreneurship rather than other types of employment. There are several other factors involved in their inclination towards entrepreneurship including low cost of self employment, higher level of return and a wider exposure towards markets and personality development.

Affect Of Immigrant Entrepreneurship On The Economy

The immigrant entrepreneurs tend to involve themselves in transnational businesses, growth and neighborhood enterprises. The creation of enterprises and highly competitive businesses in United States ...