Immigrants have a long history of creating great companies in the United States. Kohl’s and Comcast were both founded by immigrants in the 1960s, while more recently Google, YouTube, and eBay were founded by people from Russia, Taiwan and France, respectively.
Employment immigration is at the center of a new report by the U.S. Chamber of Commerce. The report shows that many immigrants who are looking to start a new business in the U.S. are returning to their home country if they do not establish themselves here.
Ultimately, the Chamber of Commerce is suggesting that the U.S. immigration system should be “entrepreneur friendly” and that the country should embrace employment immigration reform. One of the suggestions made in the report is to create a specialized visa for immigrant students who have graduated from college and could potentially create a new business, allowing them to remain in the U.S.
High-skilled employment immigration is supported by the U.S. public, with the report indicating that 68% of Americans are open to increased high-skilled immigration.
The chief executive officer of the Chamber of Commerce supported his organization’s report. “We should allow the world’s most creative entrepreneurs to stay in our country,” he said. “They are going to contribute and succeed somewhere – why shouldn’t it be in the United States?”
According to the report, native-born Americans are less likely to start their own business. About 5% of naturalized citizens are self-employed, compared to 3.7% of native-born citizens.
So what does this mean for you? Immigration laws in the U.S. can be complicated and are under ever-increasing scrutiny. While this report is a hopeful sign for people who seek citizenship and want to create a business, nothing official has been enacted. Consult an experienced immigration expert if you have questions regarding your entrepreneurial efforts and citizenship status.
Source: Desert News, “Immigration reform may spur economic growth, U.S. Chamber says,” Elizabeth Stuart, Jan. 26, 2012