We here at PeopleFund are all about fostering entrepreneurship in every community all across the state. More small businesses and entrepreneurs in more communities across the state means more connected and resilient local economies. You can trust us, or read this, this or this.
Recently, we came across a study from the Fiscal Policy Institute that highlights a population of small business owners and entrepreneurs that are often overlooked as part of the small business world: immigrants. Here are the numbers:
- Immigrants make up 13 percent of the overall population and 16 percent of the labor force, yet constitute 18 percent of small business owners.
- Thirty percent of recent small business growth is due to immigrant-owned businesses.
- More immigrant small business owners are from Mexico than any other country, which is excellent news for our state, which 20.9 percent of Mexican immigrants call home.
Empowering the newest Americans to become entrepreneurs builds the thriving, diverse communities in which we all want to live. Immigrants trying to start businesses will face the same challenges every entrepreneur faces in finding capital and resources, with possibly even more obstacles thrown in. We’re lending to entrepreneurs and then providing the important resources that they need to make their business the best it can be. So, here’s to fostering entrepreneurship, building communities and supporting small businesses!