Our American journey and our success would simply not be possible without the generations of immigrants who have come to our shores from every corner of the globe. It America is a nation of immigrants.
Before I begin my remarks, let me issue the standard disclaimer that the views I express today are my own, and do not necessarily reflect the views of the U. Congratulations on this milestone. Tonight I would like to spend my time with you discussing: The crucial role that immigrants have played in the economic growth of the United States; and How the SEC can enhance opportunities for small businesses to access capital and grow their businesses.
The Positive Impact of Immigrants on the U. Immigration makes us more prosperous. And immigration positions America to lead in the 21st century. Let me highlight a few interesting facts about the impact of immigrants on our national economy.
First, immigrants are business owners. For example, first generation immigrants: The Fiscal Policy Institute found that small businesses owned by immigrants directly employed an estimated 4.
This is especially true in the technology-intensive and service industries. The data overwhelmingly provides that immigrant-owned businesses contribute greatly to the U. As a group, Hispanics have made significant contributions to our economy, by starting new businesses, creating jobs, and utilizing their purchasing power as consumers.
Hispanic market would be one of the top ten economies in the world. Immigrants have high business formation rates, and many of the businesses they create are very successful, hire employees, and export goods and services to other countries. Immigrants are the engine of true capital formation in the United States.
Access to Capital The positive role that immigrants play in our economy underscores the importance of making sure that immigrants and all small business owners have access to the capital that they need to start and grow their businesses, create jobs, and increase production.
Although personal savings is the largest source of capital for most start-ups, external capital is also important to many small and medium-sized businesses. The recent financial crisis and its aftermath still affect the availability of credit, and many small business owners report having difficulty getting credit from banks.
This is where the SEC can have a positive impact.
The SEC also oversees 17 national securities exchanges and seven active registered clearing agencies. It goes without saying that our capital market is the largest and most complex in the world. The SEC is also responsible for establishing the disclosures required to be made by public companies and for ensuring that investors receive the information they need to make informed decisions about their investments.
Of course, the SEC is well-known as a law enforcement agency. SEC enforcement actions against those who engage in fraud and misconduct are essential to strong capital markets.
Immigrants are the engine of true capital formation in the United States. Access to Capital. The positive role that immigrants play in our economy underscores the importance of making sure that immigrants and all small business owners have access to the capital that they need to start and grow their businesses, create jobs, and increase production. How Inaction on Immigration Impacts the Agricultural Economy. Written by Paul McDaniel on April 1, At an event Tuesday on immigration, agriculture, and the economy, panelists described how the status quo is harmful to employers, Immigration Impact is a project of the American Immigration Council. Migrants arrive with skills and contribute to human capital development of receiving countries. Migrants also contribute to technological progress. Understanding these impacts is important if our societies are to usefully debate the role of migration.
The SEC has no stronger mission than the protection of investors. Tonight, I want to focus on two provisions of the recent JOBS Act that are intended to enhance the ways that small businesses are able to raise equity capital.Immigration’s Role in Australia’s Future Development At the State of the Nation conference on 25 and 26 June, the Committee for Economic Development of Australia (CEDA) released its report Community Pulse The Economic Disconnect.
Below is our top 10 list for ways immigrants help to grow the American economy. Immigrants start businesses.
According to the Small Business Administration, immigrants are 30 percent more likely to start a business in the United States than non-immigrants, and 18 percent of all small business owners in the United States are immigrants.
Migrants arrive with skills and contribute to human capital development of receiving countries. Migrants also contribute to technological progress. Understanding these impacts is important if our societies are to usefully debate the role of migration.
play an important role in the City’s economy. In , two-thirds of New York City’s immigrants The Role of Immigrants in the New York City Economy The Role of Immigrants in the New York City Economy. Jan 16, · How immigration has changed the world – for the better.
the core role that immigrants play in economic development is often overwhelmed by defensive measures to keep immigrants out.
Research at the Federal Reserve Bank of San Francisco concluded that “immigrants expand the economy’s productive capacity by . Immigrants play an important role in the U.S. economy and in supporting businesses across the country.