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Phone Number : 302.652.4800

Industry News

Immigrants start twice the companies that native-born Americans do

Immigrants continue to add value to this country.

Immigrants continue to add value to this country.

America has a reputation as a land of immigrants, and even though the Statue of Liberty isn't shiny-new anymore, that nature continues to this very day. 

Foreigners have had a huge hand in building the economy and growing jobs. They're responsible for more than 25 percent of all new business creation and are twice as likely to start their own companies as their native-born counterparts. These companies have a strongly positive effect on the U.S. economy as a whole: not only do they improve employment, they increase tax revenue and contribute to the Gross Domestic Product, which helps lower debt. 

One of the benefits of coming from a different place is that you can add a fresh perspective to situations that locals might take for granted. Renaud Laplanche, who founded Lending Club, a loan-services company, described this unique perspective to the Huffington Post.

"My cultural background played a key role in the genesis of Lending Club. As an immigrant, I was not familiar with U.S. consumer credit and was shocked when I realized that credit card companies charge 18% interest rates. I was looking at this with a fresh pair of eyes because there is no such thing as credit cards in France, and consumer loans are a lot more affordable," he explained.

Immigrating doesn't just offer a fresh take on issues: it can also impose unique challenges when incorporating a business in the United States, including language and societal barriers. If you need assistance, an incorporation services company can help walk you through the process, even in navigating culturally-specific nuances like choosing the best available company names. Whether you were born five miles away or five thousand, it's easy to get your company off the ground.