There is bad news for those who think migrants are here to take away jobs from Britons. One out of seven UK companies has either been created or is directed by a migrant.
A new research from the Centre for Entrepreneurs Think Tank and financial technology company, DueDil, has found that there are 456,073 migrant entrepreneurs in the UK.
The report shows that nearly half a million people from 155 countries who have settled in the UK have launched businesses.
Migrant-founded companies created 14 per cent of all jobs in the SME segment.
Despite the extra challenges migrants face including access to finance and cultural and language barriers, they are twice as entrepreneurial as British-born working age population
The research in fact shows that 17.2% of migrants launched their own businesses, compared to 10.4% of those born in Britain.
It further emerges from the research that migrant entrepreneurs are on average, eight years younger than their British-born counterparts.
DueDil founder and CEO Damian Kimmelman said: “Immigration is one of Britain’s most emotive topics for debate. Sadly, opinions are rarely informed by evidence. This game-changing research proves that migrant entrepreneurs are hyper-productive, net contributors to the UK economy.”
Mr Kimmelman, who is himself an American serial “migrant entrepreneur”, added: “History tells us that the most productive states always encourage intellectual and technological ferment; that’s what we’re seeing in Britain right now, and we must celebrate it.”
Centre for Entrepreneurs chairman and serial entrepreneur Luke Johnson appealed to the media and politicians to celebrate “the huge contribution of migrant entrepreneurs”.
He noted that while the majority of the public already appreciate migrant entrepreneurs, politicians and media continue to “send out negative signals that risk alienating this vital group of job creators.”