Entrepreneurship and Immigrants

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.

California leads U.S. in immigrant entrepreneurship, study finds

Gloria Suen owns Li Hing of Hong Kong, one of California's many immigrant-owned small businessesImmigrants 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. Continue reading

The New Jim Crow – Report: Minority-owned firms have tougher time raising capital

Every few days it seems that some clown or another is standing up with – “What has President Obama done for the black community?” as if President Obama should be making special laws, just for black people.

How about just leveling that playing field?

Report: Minority-owned firms have tougher time raising capital

The nation’s 4 million minority-owned firms face large disparities in accessing capital, making it even more difficult to weather the recession, according to a new report by the U.S. Commerce Department’s Minority Business Development Agency.

The report found that minority-owned businesses outgrew their counterparts in the number of firms, employment and size of payroll from 1997 to 2002, but face significant long-term growth constraints. One of the biggest barriers is that minorities obtain less debt and equity, pay more for capital and are rejected more often for bank loans.

“For all businesses, especially those that are minority owned, access to working capital can really mean the difference between success and failure,” said agency director David Hinson. “Limited financial, social and human capital and racial discrimination are primarily responsible for the discrepancies in minority business financing.”

Minority-owned companies contribute significantly to the economy by creating jobs, paying taxes and leading innovation, but their “growth potential is largely untapped,” Hinson said. In 2002, minority-owned firms employed 4.7 million people and generated $661 billion in revenue.

With greater access to capital, minority-owned firms could create 16 million jobs and $2.5 trillion in annual revenue, the report concluded. Continue reading

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