One Third of CA Small Businesses Owned by Immigrants
|June 15, 2012||Posted by Kiwon Yoo under Blog||
A recent report found that with one third of its small businesses owned by immigrants, California has the highest concentration of immigrant small business owners in the nation. Among metropolitan areas, Los Angeles had the second highest concentration at 44%, behind Miami’s 45%. This study by the Fiscal Policy Institute based on the U.S. Census Bureau’s Survey of Business Owners and the American Community Survey found that immigrants, who make up 13% of the national population, are 10% more likely to be small business owners than US-born workers. Nationally, 18% of small businesses are owned by immigrants, an increase from 12% 20 years ago.
While many immigrants own restaurants (37% of owners born outside the US), grocery stores (49%), and laundry/dry cleaners (54%), an increasing number of immigrants own doctor’s offices, real estate firms, truck transportation services and technology companies, despite the fact that more than half do not have a college degree.
“I don’t think immigrants are ‘super-entrepreneurs,’ but I do see that immigrants are playing an important and growing role across the American landscape,” said David Dyssegaard Kallick, author of the report.
With private individual and small group insurance plans being as difficult as they are to understand, navigate and afford, the work the Exchange is doing will serve to significantly benefit immigrant small business owners in California.
The full study is available online.