Tuesday, August 26, 2014
Immigrants tend to establish businesses at higher rates than their native-born peers on both sides of the Atlantic. Yet as the Migration Policy Institute’s Transatlantic Council on Migration finds in a new report, immigrants typically face greater obstacles to starting up, maintaining, and establishing their businesses.
In Policies to Support Immigrant Entrepreneurship, MPI Europe Policy Analyst Maria Vincenza Desiderio examines the challenges faced by immigrant entrepreneurs, including difficulty accessing credit, lack of familiarity with local markets and business environments, and barriers navigating the regulatory and administrative process.
The report, part of a Transatlantic Council series examining how cities and regions can better reap the benefits of migration, also examines policies that can help immigrant entrepreneurs succeed—and as a result integrate more fully into their adopted country’s economic, civic, and social life.
Host-country governments have turned to a mix of targeted and mainstream business-support programs to more fully capture the value of immigrant entrepreneurship. Among the programs designed specifically for immigrants are tailored training services and mentoring and networking initiatives aimed at enhancing language proficiency and business skills. Mainstream programs open to the entire population, such as incubators for high-tech start-ups, can also foster immigrant entrepreneurship if immigrants can easily access them.
Earlier reports in the Transatlantic Council series on the topic “Cities and Regions: Reaping Migration’s Local Dividends” can be found here.