A few months back, we discussed the relative lack of immigrant entrepreneurs that are involved in the U.S. economy. New policies were being formed to fix the issue, but new research indicates that problem is only getting worse -- making those plans for new work visa rules a tad late to the party.
According to a survey published by the Kauffman Foundation, foreign-born people account for 24.3 percent of new companies in the U.S., dropping from 25.3 percent over the last six years. The trend is especially noticeable in Silicon Valley, where only 43.9 percent of companies created during that time frame had at least one foreign-born founder. That's a dramatic fall from 52.4 percent, where the same metric was six years ago.
Considering the our tough economic times; considering that economists are increasingly leaning towards the thought that young business (not necessarily small businesses) are the most consistent source of new jobs; and considering that immigrants have traditionally started many of these types of companies, it would seem like a perfect time to increase the number of work visas for foreign individuals, or to simplify the complicated nature of immigration laws.
Instead, employment visa laws continue to get more complex and daunting, and as a result foreign-born people are turning elsewhere to start the next Apple or Facebook. To be sure, the sulking economy doesn't help things -- but an injection of talented foreign entrepreneurs could certainly help the situation.
Whether you are seeking PERM certification, an L-1 visa, an H-1B visa or just a chance to apply your business skills in the U.S., you need to consult an attorney who has experience with immigration laws, issues and applications. Such advice can help you earn a much-sought-after visa.
Source: Washington Post, "Decline in immigrant entrepreneurship threatens U.S. competitiveness," J.D. Harrison, Oct. 2, 2012
- Are you considering applying for an employment visa? Please visit our Los Angeles work visa page to learn more about how you can benefit from legal advisement.