There is a common misconception that immigrants take jobs from American citizens. However, decades of comprehensive analysis has shown that immigrants have a net positive effect on the economy. Immigrants create new jobs and fill gaps in employment by taking undesirable jobs.[1] Additionally, skilled immigrants benefit the economy by increasing wages for native-born Americans. This trend may seem counterintuitive; however, research has shown that immigrant skills tend to be complementary to native-born Americans, increasing productivity and creating new jobs.[2] Research also shows that new immigrants coming into the country reduce the number of jobs outsourced offshore in the manufacturing industry, keeping those jobs in the United States.[3]
Research has shown that immigrants are starting businesses at a much higher rate than Americans born in the United States. Immigrants represent about 15 percent of the U.S. workforce, but they account for approximately a quarter of the entrepreneurs and a quarter of investors in the United States. Additionally, over one-third of new firms have at least one immigrant entrepreneur in its initial leadership team.[4] This is true for both large and small companies, resulting in the creation of millions of jobs. This trend was shown in a research study that examined the creation of businesses from 2005 to 2010. During that period, 0.83% of immigrants in the workforce created business, nearly double the 0.46% of native-born Americans.[5]
This study also examined the quality of jobs created by immigrants, showing that businesses created by foreign-born individuals tended to be more innovative than those created by native-born Americans. This trend translated into higher wages for the employees of these companies.[6]
At Visa Business Plans we specialize in creating highly detailed strategies tailored to the needs of every one of our clients. We complete every project with laser focus and leave no stone unturned, to give you the best chance of success in achieving your business immigration goals. Call us now at 305.777.0228 to schedule your appointment with our business plan consultants.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in 4 different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
[1] https://thehill.com/opinion/immigration/545572-immigrants-do-not-steal-our-jobs-they-create-them-in-the-economy/
[2] https://thehill.com/opinion/immigration/545572-immigrants-do-not-steal-our-jobs-they-create-them-in-the-economy/
[3] https://www.americanprogress.org/article/immigration-helps-american-workers-wages-and-job-opportunities/
[4] https://www.brookings.edu/blog/brookings-now/2017/08/24/do-immigrants-steal-jobs-from-american-workers/
[5] https://www.forbes.com/sites/adigaskell/2020/11/11/immigrants-create-more-jobs-than-they-take/?sh=79ef142019ea
