In this nation of immigrants, newcomers have historically played an important role in our country’s growth. But the stories of immigrants arriving in America and building thriving businesses aren’t just a thing of the past.
According to Intuit , foreign-born entrepreneurs start 20 percent of American small businesses today. Roughly 1 in 10 of these small business owners are Mexican-born.
What sets foreign-born entrepreneurs apart? Not only do they typically open their businesses with higher levels of startup capital, but they are also more likely to hire.
Foreign-born business owners have found success in service industries. The restaurant and food services industry has the greatest number of immigrant-owned businesses, at 76,915.
California, New York and New Jersey are the states with the greatest share of foreign-born business owners. In fact, one-third of all business owners in California are foreign-born.
For more statistics on this ambitious group, check out the infographic from Intuit below.