Immigrants often come to the U.S. to seek opportunities, including a place to start a business where they can grow. But if you’re an immigrant and want to start a business, while it’s encouraged, there are some extra considerations that you should think about when starting your business.
How many immigrants start a business in the U.S.?
Interestingly, immigrants are more likely than the native-born population to start a business. About 25% of American entrepreneurs are immigrants, and immigrants are integral to job creation in the country. Along with their huge impact on economic growth in the U.S., the country also supports business immigration by making it easier for immigrants who own businesses to remain in the country. In 2017, the Department of Homeland Security adopted the International Entrepreneur Rule. With an influx of entrepreneurs also comes more job creation. Potentially, up to 1,000,000 jobs could be created over the next 10 years if 50% of the new businesses are STEM firms.
International Entrepreneur Rule under the Biden administration
Although the International Entrepreneur Rule was officially enacted in 2017, its growth and implementation was stalled under the Trump administration. But under the Biden administration, it might be easier for people to emigrate and start businesses because it’s easier to obtain work visas, and Biden reversed many travel bans that made it harder for immigrants to enter the country.
If you’re an immigrant or are thinking about moving to the U.S. to create your own business, know there are many opportunities and the U.S. sees the value immigrants bring to the U.S. market.