Immigrant Small Business Ownership & Financial Opportunity
Immigrants are an integral part of our communities and contribute significantly to U.S. economy, workforce and community resilience. Across the U.S., immigrants establish businesses at significantly higher rates than non-immigrants. One study which was co-authored by a Massachusetts Institute of Technology economist found that “immigrants are about 80 percent more likely to found a firm.” In fact, in New York City alone, immigrants are more than twice as likely as native-born residents to start their own business and comprise nearly half of New York City’s small businesses, representing a critical economic engine for the city. However, immigrants encounter specific challenges in establishing, sustaining and growing their businesses due to lack of access to capital, linguistic exclusion, and lack of familiarity with business support structures. And it is clear that current political, legal, economic, and environmental uncertainty will impact and exacerbate these specific hurdles adding to the precarity and challenges that immigrant entrepreneurs face.
Grant makers can support immigrant small and micro businesses in a variety of meaningful ways from investments made to businesses for inventory development, client services, working capital generally, other operational and/or hiring needs and targeted technical assistance. These and other aligned philanthropic investments can provide support for sectors rich with immigrant workers and business leaders, as well as funding to contribute toward narrative change and policy and legal work. Please join the New York City Asset Funders Network to explore how funders can support immigrant small businesses.
Speakers to be announced soon.
If you have any accessibility requests or questions, please email Paula Dworek at paula@assetfunders.org. Requests for accommodations must be received by April 11, 2025, to ensure our ability to meet your request.
