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
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
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
44,141
Percent of state’s population
3.3%
Growth in foreign-born population
19.6%Source: The Impact of Immigration Across the Nation, 2011
3.3%Share of businesses in Maine owned by
immigrants
$119 millionAnnual business income generated by
immigrantsSource: Partnership for a New American Economy, 2006-2010
979 Latin
o$163.2 million sales and receipts
Business
Owners by self-
identified race
1,107
Asian
$279.3 million sales and receipts
$36.9million
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
ENTREPRENEURSHIP AND IMMIGRANTS
“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
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 http://www.ceimaine.org//Business-Directory-May-2013.pdf
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
FOODS & GROCERY MARKETS IN PORTLAND
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
SPECIALTY BUSINESSES IN PORTLAND
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
PLEASE JOIN US FOR THE
OTHER PROGRAMS IN THIS COMMUNITY
DIALOGUEMarch 18th Immigrant Economic Integration
May 1st Immigrants and the Creative Economy
June 8th Economic Opportunity Agenda and Celebration