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Posted by on Mar 14, 2014 | 0 comments |

Immigrants in UK more likely to start their own business

Around 14% of the start-up companies in United Kingdom were founded by immigrants. According to a newly released report there are 456,073 immigrant entrepreneurs working in the UK who have founded 464,527 businesses which employ 8.3m people. The report encourages the UK government to allow creative people from all over to world to settle in UK and do business there. The report was prepared by the Centre for Entrepreneurs and DueDil, which is a company that provides information online for UK companies. The report says that immigrants are in general more likely to start business than local citizens. 17.2% of non-UK nationals have started their own business as opposed to only 10.4% of Britons. In addition to that immigrants start it at a younger age. The average age for them is 44 years, while the average age for British entrepreneurs is 52 years. At the same time however the report warned that the recent restrictive immigration policies have made UK quote hostile for entrepreneurs from abroad. The report’s authors call on all UK political parties to reaffirm their commitment to the Tier 1 (Entrepreneur) visa and the Tier 1 (Graduate Entrepreneur) visa and urge them to ‘make the intellectual case to the public as to why there should be no cap on entrepreneur visas’. In addition to that, recent poll suggest that UK public opinion is less hostile towards entrepreneurs than towards immigration in general. Around 66% of the British people believed that immigration should be reduced, but a the same time 44% think that foreign entrepreneurs have made a positive contribution towards the UK economy and society. According to statistics from UK border agency, immigrants from more than 150 countries have come to UK with the intent of starting their own business. Around 50,000 have come from the Republic of Ireland. There were also large numbers from India, Germany and the USA.

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