A week in which President Donald Trump ended protections for immigrants from El Salvador and rejected a bipartisan framework to restore Deferred Action for Childhood Arrivals (DACA) culminated in the president displaying shocking ignorance about why immigrants from certain countries seek a new life in the United States.
The answer to your question, Mr. President, is simple: Many of them come to the United States to realize their entrepreneurial dreams, which is why we must restore DACA.
A report from the New American Economy Research Fund found immigrants owned nearly three million American businesses in 2014, employed almost six million people and produced more than $65 billion worth of income.
What’s more, immigrants from outside Europe had high rates of entrepreneurship or were self-employed in 2014: 19.1 percent of immigrants from the Middle East and North Africa were entrepreneurs, while 11.1 percent of Hispanic immigrants and 10.6 percent of Asian immigrants were self employed.
As lawmakers continue to negotiate the renewal of DACA and other immigration policies, it is essential that they recognize the importance of sensible immigration policies to our nation’s small business community and our economy as a whole.
The U.S. House of Representatives passed legislation recently that seeks to revoke the president’s recent executive actions on immigration reform, which is disappointing news for small employers looking for qualified workers. We know from our polling that having access to a qualified workforce is of paramount importance to entrepreneurs looking to grow and expand their businesses. In fact, more than two-thirds of small business owners believe immigration reform will be good for small businesses by establishing a qualified, trained and stable workforce. But lawmakers’ efforts to undo actions on immigration reform will make it even harder for small business owners who are looking to grow their businesses and find workers with the right skills. Continue reading →
Every year around this time, we think about what the year ahead might bring and how we can make it better than the last. To make 2014 a success, we must find ways to bolster our still-recovering economy. Supporting the middle class is one way to do that. A recent study indicates income inequality is at the highest it’s been in 100 years, with the top 10 percent of earners taking more than half the country’s total income in 2012. In order to close this immense income gap and strengthen our economy, America needs smart policies that will help grow the middle class, and small businesses need to be top-of-mind when crafting these plans.
Entrepreneurs know firsthand how vital the middle class is to our economic recovery. Their primary customer base is made up of middle class individuals and the vast majority of small employers themselves are middle class. In fact, Small Business Majority’s recent polling found only 5 percent of small business owners reported earning more than $250,000 a year, and research conducted by the Ewing Marion Kauffman Foundation reveals that seven in 10 entrepreneurs come from a middle class background. Continue reading →
Our country was built by entrepreneurs—hard working people whose innovation, sacrifices and accomplishments made America what it is today. Thanks to their dedication and creativity, small businesses have become the backbone of our economy. Today, on National Entrepreneurs’ Day, it’s important to consider the tremendous impact they have on our economy.
The small business economy includes 6 million small firms and 22 million self-employed individuals. In addition, small firms account for half of private sector employment and have created two out of three net new jobs over the past couple of decades.
But since President Obama proclaimed the first National Entrepreneurs’ Day in 2010, our nation’s entrepreneurs have struggled to continue recovering from the Great Recession. From the government shutdown and debt ceiling crisis to delays with healthcare reform, small businesses have found it difficult to grow in this economy. As we look forward to the upcoming holiday season, let’s honor our country’s biggest job creators by considering smart policies that help them create new jobs and strengthen our economy.
Running a small business is a constant balancing act. Entrepreneurs have to balance inventory with profits, employee hours with demand. Success and longevity depend on balancing a thousand and one factors—any one of which could tip the scales just enough to result in financial upset or worse.
Needless to say, small business owners understand well the need for balance, in their businesses and the public policies that impact them. The bipartisan immigration reform bill passed out of the Senate this week—while a huge step in the right direction for small businesses looking for smart immigration policies—is an example of a policy that needs more balance to create a successful environment for our country’s job creators.