Transcript Maine Needs More People

A Community Dialogue on
Immigrant Entrepreneurship &
Business Success
Presented
By the
In special partnership
with
Premier Series Supporters
Program Sponsors
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IMMIGRANTS IN THE STATE
OF MAINE
AND
WORKFORCE
DEVELOPMENT
Immigrants who arrive i n Maine
bring w i t h them varied skills a n d
education.
Immigrants have a high
entrepreneurial drive and are 30%
more likely to start new businesses
than native-born.
Center for an Urban Future: “Immigrant Entrepreneurism: An Engine for Economic Recovery” December 2009
Immigrant entrepreneurs
face many barriers to launch a
small business.
Barriers for immigrant
entrepreneurs include
limited English proficiency,
cultural barriers, and a limited
business experience and/or
regulatory processes of the US.
These challenges can prevent
immigrant entrepreneurs from
successfully launching a
business.
A secondary barrier faced by
immigrant entrepreneurs is
an inability to access financing
and start-up capital. Most
entrepreneurs require some start-up
funding – often in the form of
loans. Most financial institutions
require a good credit history and
proof of income to qualify for
financing.
Immigrants as business owners
contribute to economic
distressed area…because they
have limited capital to start up their
businesses and they only can afford
lower rents…they can market their
products and services to low and
moderate income people.
Neighborhood main streets, and
storefront businesses are well
represented by immigrants.
JPNDC Report: “Immigrants as Small Business owners”
In the United States,
immigrants now launch
more than a quarter of
businesses.
Inc., Magazine ,“The Most Entrepreneurial Group in America Wasn't Born in America”
November 2014
From 1996 to 2011, the business
startup rate of immigrants
increased by
more than 50 percent,
while the native-born startup rate
declined by 10 percent.
Immigrants today are more than
twice as likely to start a business
as native-born citizens.
Inc., Magazine ,“The Most Entrepreneurial Group in America Wasn't Born in America”
November 2014
46 %
of America's
top
venture-funded
companies
had at least one
immigrant founder
Inc. Magazine: “Immigrants Found Nearly Half of Top Start-ups” December 2011
Immigrants are founders of
nearly half of America’s Top
50 venture-funded
companies.
Between 2000-2011, the foreign-born
population in Maine increased by 19.6 percent,
and in 2011, immigrants made up 3.3 percent
of Maine’s 1.3 million residents.
Source: The Impact of Immigration Across the Nation
Size of foreign-born
population
44,141
Percent of state’s population
3.3%
Growth in foreign-born
population
19.6%
Source: The Impact of Immigration Across the Nation, 2011
3.3%
Share of businesses in Maine owned by
immigrants
$119 million
Annual business income generated by
immigrants
Source: Partnership for a New American Economy, 2006-2010
Maine Minority Business Owners (Foreign-born & NativeBorn)
I mmi g r a t i o n P o l i c y C e n t e r . “ T h e P o l i t i c a l a n d E c o n o mi c P o w e r o f I mmi g r a n t s , L a t i n o s , a n d A s i a n s i n t h e P i n e T r e e S t a t e . ” J u l y 2 0 1 3 .
ENTREPRENEURSHIP AND
IMMIGRANTS
“Immigrants …they are more likely to earn patents …
a quarter of new high-tech companies with more than $1 million
in sales were founded by the foreign born … every additional 100
foreign-born workers in science and technology fields is
associated with 262 additional jobs for U.S. natives.”
Brooks, David. “The Easy Problem.” New York Times February 2013.
52%
Increase in share of foreign born
STEM workers
32.9%
of STEM graduates are foreign-born
Source: Partnership for a New American Economy, 2006-2010
Immigrants have been integral
in helping Maine grow
economically in recent years.
Two of the state’s largest
companies, Fairchild
Semiconductor International and
the American Skiing Company,
were founded by immigrants or
their children. With corporate
offices in South Portland,
Fairchild Semiconductor
International employs almost
8,000 people worldwide and
brings in more than $1.5 billion
in revenue each year.
Although the American
Skiing Company sold its
Maine ski resorts in
2007, their investment
and expansion led to two
resorts that employ a
total of 400 people year
round and more than
2,000 seasonal workers.
Source: The Impact of Immigration Across the Nation, 2011
Over 120 Immigrant-Owned
Small Businesses in Southern Maine
CEI StartSmart http://www.ceimaine.org//Business-Directory-May-2013.pdf
Restaurants in Portland
Asmara Restaurant
Babylon Restaurant
Boda
Crown Fried Chicken
Federal Spice
Flores Restaurant
Haggarty's
Hi Bombay
La Concina Dominicana
Miyake
Northern Gardens
Pai Men Miyake
Sarku Japan Sushi Bar
Sengchai Thai Cuisine
Ten Ten Pie
Tandoor Restaurant
Teriyaki Exchange
Tipico
Tu Casa
FOODS & GROCERY MARKETS
IN PORTLAND
Arwo Market
Banadir Market
Bogousha's Polish Deli
Discount Halal Market
Ebenezer Store
Haknuman Meanchey
Hong Kong Asian
Market
Jazeera Market
La Bodega Latina
Liban’s Market
Medeo European Food
Mitpheap Asian Market
Moriah Store
Noor Grocery
Peace Food Halal Market
Riverton Gas & Convenience
Safari Grocery Store
Sindibad Market
Tawakal Store
Tigris Market
Veranda Asian Market
Westbrook Variety
SPECIALTY BUSINESSES
IN PORTLAND
AC Vasquez Painting
Alverez Painting
A-Z Wood Floor
Carpentry Express
Esi Remodeling
Eugene Sherstyukov, Custom
Carpenter
M & M Flooring
Marie-Jeanne's Couture
Gwani Styles
Expert Wireless Solutions & R. Fashion
The Children's House
Home Health care
Ahmed Auto
Dubai Auto Sales, , Portland
Mulay Auto
PLEASE JOIN US FOR THE
OTHER PROGRAMS IN THIS
COMMUNITY DIALOGUE
March 18th
Immigrant Economic Integration
May 1st
Immigrants and the Creative Economy
June 8th
Economic Opportunity Agenda and
Celebration
Presented by the
World Affairs Council of
Maine
in partnership with MIRC
www.wacmaine.org
www.facebook.com/mainecelebratingimmigration