Home RSS

Immigrants Dominate Small-Business Ownership In New York City

The Huffington Post 10/05/2011 16:17
Immigrants Dominate Small-Business Ownership In New York City - NYC - Business - New York - USA


Nearly half of all small-business owners in New York City are immigrants, according to a new report by the Fiscal Policy Institute's Immigration Research Initiative.



That number increases dramatically when the focus is turned on small businesses that aid in residents' daily lives. According to the study, immigrants own 84 percent of small grocery stores, 69 percent of restaurants and 63 percent of clothing stores. The trend continues into other industries like construction and engineering, which cite 62 percent and 40 percent ownership, respectively. In total, 48 percent of business owners in the Big Apple are immigrants.

The study, which collected data between 2005 and 2009, also reflects the reality that many immigrants operate in industries with low wages and poor working conditions, such as dry cleaning and laundry and taxi and limousine services, which both cited 90 percent immigrant ownership.

The numbers seem high, but in New York City's cultural melting pot, immigrants make up 36 percent of the total population and 46 percent of the labor workforce. In fact, 44 percent of the city's population between ages 16 to 44 years old are immigrants.


Source