Connect with us

Hi, what are you looking for?

The American Genius Real EstateThe American Genius Real Estate

Op/Ed

The American Dream is within grasp for aspiring immigrant entrepreneurs

(EDITORIAL) Immigrant business owners are key players when it comes to living out the American Dream as nonnatives. How do they keep the spark alive?

World map representing immigrant migration to the States.

All Americans, no matter what their path to American citizenship looked like, can agree on one thing: We all chase the ever-elusive American dream. We badly want to believe that irrespective of birthplace or socioeconomic class, we can all achieve our own version of success. We want to believe that upward mobility is possible for everyone. In fact, the idea of the American dream drives many from countries all around the world to set out to America in hopes of a better life for themselves and for future generations.

Despite many bemoaning that the American dream is now dead (and I can certainly some people believe that is true) immigrants still view America as a beacon of hope, a place to start over for a better life. For them, the American Dream is still very much alive. 70% of people, across race, political party, gender, and income, also believe that the American dream is still achievable.

First, it is already established that immigrants are more likely to foray into entrepreneurship than native-born people, a fact that remains true even across a sample of 69 countries.

Peter Vandor, of the Harvard Business Journal, theorizes that more risk-tolerant people emigrate and are therefore more likely to participate in other risk-tolerant activities, such as entrepreneurship.

Immigrants continue to be at the forefront of business and entrepreneurship, with 44% of Fortune 500 companies having at least one founder who is an immigrant or the child of immigrants, according to stats provided by the New American Economy, founded by Michael Bloomberg.

Furthermore, upward mobility exists! A study conducted by Princeton found that even the children of immigrants who fall in the poorest quarter of the U.S. end up becoming middle class. 80% of America’s millionaires, regardless of if they were foreign or U.S. born, are self-made. These stats aren’t just for large businesses either. As of 2019, immigrant business owners accounted for 21.7% of all small business owners in the U.S. It’s not just the business owners that benefit, either. A recent study found that workers employed by immigrant-owned businesses earn 4.1% more than workers employed by non-immigrant-owned businesses.

Despite the challenges, immigrants continue to dominate American entrepreneurship and create their own opportunities, and it is the American economy that continues to benefit from this hard work.

The bottom line? America contains 20% of the world’s immigrants, according to Pew Research Center, and America remains the number one destination for immigrants with big dreams. The real bottom line? The American dream is for everyone.

Nicole is a recent graduate (okay fine, a recent-ish graduate) of Texas State University-San Marcos where she received a BA in Psychology. When she's not doing freelance writing, she's doing freelance Public Relations. When she's not working, she's hanging out with dogs or her friends - in that order. Nicole watches way too much Netflix and is always quoting The Office. She has an obsession with true crime and sloths.

Advertisement

The Daily Intel
in your inbox

Subscribe and get news and EXCLUSIVE content to your email inbox.

Advertisement

KEEP READING!

Real Estate Marketing

Risk management can seem imposing, but the pandemic times have shown just how important it is to be truthful and build trust.

Op/Ed

It's a long and winding road in life as an entrepreneur, from building from the ground up to sustaining success. Joy comes in the...

Op/Ed

There are two lines of thinking when it comes to your money - Make small changes every day, or seek bigger fish. You can’t...

Op/Ed

(EDITORIAL) To the unseen entrepreneur, we see you and we know that you work your tails off to do good things in your community.

The American Genius' real estate section is honest, up to the minute real estate industry news crafted for industry practitioners - we cut through the pay-to-play news fluff to bring you what's happening behind closed doors, what's meaningful to your practice, and what to expect in the future. We're your competitive advantage. The American Genius, LLC Copyright © 2005-2022