(PRESS RELEASE VIA SNO) – In an article written by Tommy Felts and Bobby Burch for Startland News on 21st March, 2018, they both were in support of similar observations that I myself have made.
A surprising revelation in that, foreign immigrants highly contribute to the United States economy.
In a statement made by U.S. Senator Jerry Moran of Kansas City he stated that, “The percentage of business startups that occur by the hand of somebody who’s here on a foreign visa is nearly 40 percent.” He is clearly convinced that immigrant entrepreneurs are valuable to the U.S. economy.
He further stated, “So while the numbers generally are not trending in a favorable way, within the immigrant community starting a business is a more normal path to the American dream.”
The most challenging element of Jerry Moran’s Startup Act relates to immigration, the U.S. senator from Kansas acknowledged, alluding to clashes between those who want across-the-board limits and others who demand a far-reaching, but less-restrictive restructuring of U.S. immigration policy. The Senator lamented, “I’m of the view that just because we can’t do everything doesn’t mean we can’t and shouldn’t do something,” Moran said.
While in Kansas City, on a 4 week intensive training fellowship called the Young Leaders of the Americas Initiative – YLAI program, I was privileged to attend the 40th Annual Hispanic Chamber of Commerce of Greater Kansas City Gala, which took place on October 12th 2017, at the Sheraton Hotel at Crown Center, KC. The theme for the evening was “En Fuego”.
Let me just pause here for a short moment, to thank the FEC CEO Mr. Clyde Mc Queen, for having sent me, as one of the 10 staff members, who represented the Full Employment Council on that amazing evening. I got to meet the U.S. Senator and other very influential persons in the Hispanic Chamber of Commerce.
At this event, what was very apparent, was that the Hispanic community is and has been making great strides in the area of Entrepreneurship, in Kansas City for many years. Much of the successes that the Greater Kansas City has realized, is due to the Hispanic community and other immigrants. The Hispanic market’s size, growing clout, and buying power of $1 trillion in 2010 and $1.5 trillion by 2015 require thoughtful understanding about what the market represents to a company’s bottom line.
First introduced in 2011, the current version of Moran’s bipartisan legislation would allow for 50,000 STEM visas and 75,000 entrepreneur visas, among other provisions geared toward reducing barriers to global talent, capital formation, regulatory relief, access to commercializing federally-funded research programs, and seed money for commercialization projects across the country, Moran said.
The Senator’s most recent push for the entrepreneur bill — including an appearance earlier this month at SXSW Interactive in Austin — comes amid deportations in the media spotlight and ongoing, largely partisan fights over immigration issues.
The Obama administration’s proposed DREAM Act and DACA (Deferred Action for Childhood Arrivals) program, both which dealt with creating a legal framework for undocumented immigrants already in the United States, have been key points of contention — causing even unrelated immigration topics to become controversial by association. (DACA was rescinded in September by the Trump administration.)
Data from the Ewing Marion Kauffman Foundation points to a decline in the number of startups overall, Moran noted.
The rate of new entrepreneurs in the U.S. decreased in 2016 to 0.31 percent (from 0.33 percent), or 310 out of every 100,000 adults starting new businesses each month, according to the 2017 Kauffman Foundation Startup Activity Index.
But Kauffman’s research also shows that immigrants to the United States are nearly twice as likely as native-born Americans to start businesses, and first-generation immigrants now make up nearly 30 percent of all new U.S. entrepreneurs, Moran said.
“Based on the data, immigrant entrepreneurs have opened up businesses that have created more job opportunities in this country”. “So there are opportunities this country provides for immigrants, and the immigrants are creating opportunities in the country”, said Neelima Parasker, CEO, president and founder of Overland Park-based SnapIT Solutions and herself an immigrant from India.
In one such study conducted by the Ewing Marion Kauffman Foundation, called the Global Entrepreneurship Index, gave substantial measurable evidence, that Entrepreneurship could add 7 Trillion dollars to Global Economy. If such be the case, and immigrants highly contribute to the US economy, then it would be safe to say that …… I feel it’s best that you as the reader draw your own conclusions.
Now here is where I bring this home. If a well respected and accurate study shows that Entrepreneurship can make such a substantial positive impact on an economy, why is it, that right here in St. Lucia, in the Caribbean region, that this fact is lost? So much has been said about job creation and reducing unemployment. Why all the searching when the answer is right in our faces, and it exists right where we are – in the skills, God-give talents, and innovative abilities, in our very own people.