A report entitled Migrant Entrepreneurs: Building Our Business, Creating Our Jobs released in March 2014 released claims that migrant entrepreneurs are one in seven of all UK companies. The report released by Centre for Entrepreneurs and financial technology company Duedil has listed Indian migrants at second position.
As per the report 456073 migrants have launched a small or medium-sized business in Britain.
Top performing nationalities with and number of migrants with their companies
• Irish - 48854 people
• Indian – 32593 people
• German - 30755
In case of American and Chinese entrepreneurs the report claimed that they are also behind a significant number of UK-based businesses.
The report that claims that Young entrepreneurs are among top five nationalities whose citizens have created jobs in Britain by setting companies and have challenged the anti-immigration rhetoric that discourages public in recent past years.
Other major findings of the report
• Migrant entrepreneurs are on average younger than British entrepreneurs and twice as entrepreneurial as Britain-born working age population. The report also claims that the migrant entrepreneurs are eight year younger than UK-born entrepreneurs
• More than a half million of people from 155 countries have settled in UK and have launched business
• In the SME segment, the migrant-founded companies have created about 14 percent of all jobs
• 17.2 percent of migrated-people have their business as compared to 10.4 percent of those born in UK
The report claims that London is benefitted disproportionately from the foreign-born entrepreneurs, with 188000 migrant-led businesses. This number is 20 times the number running companies in Birmingham, the second most popular location.
Might be possible that the campaign will seek to address the current deficit in understanding the important issue of contribution of migrant entrepreneurs to the nation and will examine how the implementation of policies to attract new migrant entrepreneurs can be improved.
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