The reformation in the immigration system will inevitably last far researching positive repercussions on the growth of economy. Kauffman Foundation claims that “immigrants are inclined more- compared to native-born Americans- to start a new business. Unfortunately, our existing immigration policy does not allow foreign entrepreneurs to start a new business. We need to encourage foreign entrepreneurs to invest in our country. This is the right time for the Congress to enact new laws for our immigration system.
In 2011, a report disclosed that between 1996 to 2011 native-born Americans business startups had plummeted by 10 percent. On the other hand, at the same time, new businesses started by foreigners had grown by 50 percent. The report further disclosed that 1 out of 10 immigrants are employed by their fellow immigrant business runners and this is undoubtedly improving our economy to some extent.
Presently, the immigration law of the United States is forcing the foreign entrepreneurs to leave the country. This is not only affecting our economy but also lasting serious impacts on the growth of employment.
Basically, most of the immigrants run small businesses in the United States. U.S. Chamber of Commerce claims that small business runners create a significant number of jobs. However, they should not be neglected. Besides, U.S. Small Business Administration adds that “in the last 15 years, the small business runners have created 64 percent jobs across the country”.
Our country is largely relying over the growth of businesses. Unless we do not allow foreign investors to invest in our country, we can never improve our economic and employment growth. Hence, the House should take it seriously and enact some new immigration laws for improving the economic conditions of the country.