Immigration - Migrants are twice as entrepreneurial as British-born population

By : Administrator
Published 16th May 2014 |
Read latest comment - 18th May 2014

This report was released in March this year, but just picked up on it. 

According to the Centre for Entrepreneurs (CFE):

  • Migrant entrepreneurs behind the creation of one in seven UK companies
  • They are twice as entrepreneurial as British-born working age population
  • They are on average younger than British entrepreneurs
  • Irish, Indian, German, American and Chinese top performing nationalities

MIGRANTS BEHIND ONE IN SEVEN UK COMPANIES - CFE

That's quite an impressive achievement, especially in light of all the recent hype and controversy surrounding various political parties immigration policies.

I wonder if part of the reason is foreign cultures are more likely to stick together and gain support from their immediate community and extended family, where as us Brits are a bit more insular and like to do everything ourselves? Or is that just me

What does anyone think? Do we have any migrant business owners that can share their experiences? Be interested to know if they think it was harder or is the UK perceived to be a good place to start a business?


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn
Comments

I would actually like to see that data drilled down and see if  it is in fact, just foreigners forming a ltd company......and using a virtual office, or are they really residing in the UK. Seeing as the report appears to originate from DueDil who post all the data for limited companies.


indizine
indizine

Well to be honest, you only have to visit any supermarket car park and see all the car washing businesses that have sprung up over the years, they all seem to be run by migrants, who issue receipts and are paid in cash for washing your motor while you shop. HMRC must love them


Thanks,
Barney

But they are not companies...i'm betting that the above report is linked only to Limited Companies.


indizine
indizine

As a child of immigrant parents, and observing immigrants from various countries/communities in London, I would say the one big thing that an immigrant has got that we lack, is the hunger or drive. This mainly applies to first generation immigrants, not often their children, although business or entrepreneurial thinking or mentality can easily be passed on to future generations - as seen with South Asian population in the UK. 

When an immigrant person arrives to a country like the UK/US, they will often come from a less well off country, and they will appreciate the opportunities that a country like this offers, so they will be really driven to do well and make money. Making money or becoming financially independent is really important to first generation immigrants. We don't always fully appreciate how that drive/hunger to do well and succeed and make you entrepreneurial and successful. 

I remember my father used to talk how in the 50's and 60's they used to sleep in shifts, save rent so that one bed was used by several people, so that if he was working days then he would share with someone who was working nights. The hours and the conditions that they worked in are hard to imagine now. However, I still see some new immigrants (nowadays), 8 or 12 people to a house, all sharing the rent in London to keep costs down. I know one person who did painting and decorating in our house, they are 4 guys who share one room. This is London 2014. They want to save every penny they can!

You will also see, that if the parents were entrepreneurial or opened up businesses, e.g like a corner shop, then their children will often grow up seeing their parents work hard, and take on that work ethic. Although they won't probably have the same level of hunger and drive because they were born in the UK - with the luxury that offers compared with if they were born in a poor village in Africa/Asia as an example. 

I wasn't fortunate enough to have parents who were in business or entrepreneurial that way, so I just had to learn like everyone else. 

I am generalising a lot, but it's my take on it.


Ryan

I'm not very politically minded, but the way I see it, they get far more financial assistance than we do, therefore its less of a risk.

The majority of immigrants, as has been said already, have a drive and passion to make a good life for themselves and will often work very long hours for very little money in order to get a footing.

Sadly that drive is missing in our own youth of today and they will just sit back and let the world pass them by.

There is also the family support that they seem to have perfected along the way with all members of the family contributing.

Like Ryan I wasn't brought up in a family of business people either and although my parents both passed away long before I set up my business, I think the biggest doubters were my elder siblings.

They all had well paid jobs and were quite happy to stick with the 9-5 comfort zone of a regular pay packet and were horrified at the thought that the baby of the family would even think she could be a success. In fact they said I wouldn't last 6 months.

My daughter however was 17 at the time and from day one has thrown herself into helping to make the business grow and even her 5 yr old daughter talks about nan and grandad's business at school and acts like she owns the business and hopefully in a few years time she will! 

 


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