Just the immigrants in California do more for the country than a whole Red State full of Tea Bigots! Not the least because these immigrants aren’t trying to bring the whole country down because we have a black President like the treason sipping Tea Bigot Republicans are.
Indeed…Save America! Deport a Tea Bigot!
In any event – a salute to those entrepreneurs, who got nothing to do with Silicon Valley…
And everything to do with true American grit!
And often, investment from financial sources outside of the US, which do a far better job at “micro-financing” than the herd mentality, often self destructive American Venture Capital market. That is changing with some of the web based “Crowdfunding” investment models like Rock The Post designed around the needs of small businesses which often only need $10000-200,000 – and not generally millions. New legislation allows small individual investors to purchase up to $1 million in stock or equity, without being restricted by State Blue Sky laws. Here is how it works.
Insofar as the large number of immigrants starting businesses because of the lack of employment opportunities – about 30% of US incorporations are done by black Americans for much the same reason.
Immigrants own 33% of California’s small businesses, the highest share in the U.S., and make up 27% of the state’s population.
When Gloria Suen opened a retail shop in Chinatown, she and her sister knew so little English they could barely decipher the rules and regulations that govern small businesses. But she asked advice from anyone who would listen and persevered.
“In those days, I had to work 365 days a year from 8 a.m. to 10 p.m.,” she said. “I had to, little by little, learn.”
Today her family-owned small business, Li Hing of Hong Kong, sells ornate Chinese antiques and fine crafts to businesses and homes across the U.S.
Li Hing is part of a movement pushing California to the forefront of a national trend: The state leads the nation in the percentage of businesses owned by immigrants, a share that exceeds the demographic’s proportion of the general population.
One-third of small-business owners in the state are immigrants, according to a report published Thursday by the Fiscal Policy Institute, a New York-based think tank. About 27% of the state’s population was born in a foreign country, according to the 2010 U.S. Census.
Los Angeles has the second highest concentration of immigrant small business owners among metropolitan areas — 44%, one percentage point behind Miami. Immigrants make up 34% of the greater Los Angeles population, according to the U.S. Census Bureau.
The most common countries of origin for immigrant small business owners in the greater Los Angeles area are Mexico, Korea, Iran, Taiwan and Vietnam, said David Dyssegaard Kallick, of the Fiscal Policy Institute…
Compared with U.S.-born workers, immigrants are about 10% more likely to be small-business owners. Although immigrants make up about 13% of the national population, they constitute 18% of small business owners, according to the report. Twenty years ago immigrants were about 12% of owners, at a time when they were about 9% of the labor force, according to the study.
Certain types of businesses have large concentrations of immigrant owners, according to the report. About 37% of restaurant owners, 49% of grocery store owners and 54% of those who own laundry and dry cleaners are immigrants. Immigrants are also likely to own doctor’s offices, real estate firms and truck transportation services…
“Immigrants sometimes have a hard time finding their way into a regular job that pays benefits and has stability, and they start businesses because they have no other choice,” he said. “Sometimes there’s a happy ending to that story. Sometimes it works out better for them. Sometimes it doesn’t.”