A new report from the Fiscal Policy Institute reveals that immigrants own a greater percentage of small businesses in the United States today than they did 20 years ago.
The Wall Street Journal reports that in 2010, 18 percent of the 4.9 million small-business owners in the U.S. were immigrants, the FPI report shows.
“It’s gone from a modest size of business owners to a pretty substantial size of business owners,” David Dyssegaard Kallick, a fellow at FPI, told Bloomberg Businessweek.
Mediterranean and Middle Eastern immigrants have the highest rate of business ownership. The report noted that at least 10 percent of immigrants from Greece, Israel, Syria, Iran, Lebanon, Jordan and Italy own businesses. The report also observed that immigrants are setting up small businesses in more places than before, and not just in cities with large immigrant populations, the Wall Street Journal reported.
FPI calculates that immigrant-owned businesses with fewer than 100 employees generated $776 billion in revenue and employed 4.7 million workers in 2010.