Immigrant Entrepreneurship Challenges and Success
Added on 2020-04-07
14 Pages4288 Words53 Views
EntrepreneurshipProfessional DevelopmentData Science and Big DataLaw
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MIGRANT ENTREPRENEURSHIP 1MIGRANT ENTREPRENEURSHIP IN THE 19TH AND 21ST CENTURYByJeremy Low Jian MingS3617521
MIGRANT ENTREPRENEURSHIP 2Executive SummaryThere are several reasons that make people emigrate from their motherland to a new land.Depending on why they left their country, it will determine their goal in the foreign land.Some people leave to start businesses in the new land, others for education, to start a newlife among other reasons (Nathan 2014). This paper analyses the migrant entrepreneurs inboth the 19th and 21st centuries. There are great differences and similarities in entrepreneurialactivities in both centuries, though the goals and objectives remaining similar. In this paper,two entrepreneurs representing the 19th and 21st centuries, were used in the analysis of thedifferences and similarities of migrant entrepreneurs in these centuries. From the analysisdone, we are able to find that migrant entrepreneur of the 19th century had a lot of challengeswith some of the challenges being; poor infrastructure, poor networking, poor financialsupport and many others (Busse 2011). The 21st-century migrant entrepreneurs are at abetter place of being successful as they incur little of these challenges. This study willprovide the benefits that come along with migrant entrepreneurs in the host countries. Theyare able to boost the economy of the hosts by the provision of job opportunities and byincreasing government revenue through paying taxes.
MIGRANT ENTREPRENEURSHIP 3Migrant Entrepreneurs in the 19th and 21st centuryIntroductionImmigration has been and remains to be a concern in countries like the United States. Increased number of immigrants in the UK or the US have negative implication in that they are able to drain the economy of the country (Rath et al. 2016). Many people, who have not researched on the economic implications of migrants, bring up the facts of migrantsdraining the country economically. When well researched, findings show that the highest percentage of United States’ economy relies on the entrepreneurial activities of the migrants; this is contrary to the majority’s opinion (Crush & Ramachandran 2016).As defined by Isla and Rialp (2013), migrant entrepreneurs are foreign-bornindividuals who get their way into a foreign land with an entrepreneurial mindset, establishing and owning businesses within the foreign land. They are creative enough to come up with unique business ideas, which stand out leading, to the expansion of the economic activities. The establishment of these businesses the economy of the host countryis boosted. Migrant entrepreneurs make new products and services available to the host country, (Nathan 2014). Most migrants have one characteristic in common, the entrepreneurial characteristics supported by the cross-cultural experiences. Migrants come from different cultures, and once they get into a new culture, they are able to introduce or fill the available business gaps. The gaps filled by the entrepreneurial migrant are unique and rarely can the host fill them, (Vandor & Franke 2016). In many years, migrant entrepreneurship has been changing. There is a greatdifference in the entrepreneurship of 19th century and that of the 21st century. This paper analyses various differences and similarities in the migrant entrepreneurs in both the centuries. It also gives the challenges faced by both entrepreneurs represented in the different centuries and how they addressed their challenges.
MIGRANT ENTREPRENEURSHIP 4Similarities and Differences in Migrant Entrepreneurs in both the 19th and 21stCenturyMigrant entrepreneurs are known historically for their continuous and well-established social and economic innovations. These entrepreneurs are able to identify a particular business gap and fill it. In both the 19th and 21st century, these entrepreneurs had a goal and vision that they want to achieve. In both cases, the entrepreneurs had business ideasto be materialized. For instance, entrepreneurs in the 19th century were able to follow their dreams of wealth, success and personal fulfillment; this is also evident in the 21st-centuryentrepreneurs. The 19th-century entrepreneurs were able to create a goal and work tirelessly taking risks, managing costs and ensuring that they give back to the community. In the 21stcentury, we see the same happening. Entrepreneurs are risk-takers and they work passionately and tirelessly to achieve the set goals, (Busse 2011). Comparing the historical experiences of both the migrant entrepreneurs in both centuries, one factor stands out clearly. Most of the migrants move out of their country to host country to exploit the available resources that are not in their original land. For instance, the most successful businessmen in the 19th century who were migrants moved out of their country due to economic constraints. They moved to America, which was economically ahead of their country to exploit the available resources. Migrant entrepreneurs in both the century have a cultural difference with their host countries. The cultural difference existing between the migrants and the host country provides the business ideas for the migrants. (Bhachu, 2017). For example, the richest man and a successful German- American entrepreneur in the 19th century, Claus Spreckels, moved out of Germany to America and he identified many business gaps that were unfilled, due to cultural differences. This enabled him to run top in the establishments. In the 21st century, entrepreneurs are also being driven by similar experiences. The desire to exploit once the
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