The National Foundation for American Policy (NFAP) has revealed that around 25 of America’s top 50 cutting edge companies were founded by expatriate businesspeople.
According to a new report published by the NFAP, expats from countries such as the United Kingdom, Singapore and numerous other global destinations are starting new businesses and making waves with start-ups.
Stuart Anderson from the NFAP said: “Immigrants are increasingly important in driving growth and innovation in America, as evidenced by the role played by foreign born founders and key personnel in the nation’s breakthrough companies. One of the lessons of the research is that America wins when we are open to talented individuals. Policies that help retain talent in the United States are likely to yield both more start up companies and the personnel needed to create more jobs and innovation in America.”
The report also revealed that many people point to a history of entrepreneurial culture as a key reason why foreign workers are able to not only flourish, but also to push the entire country forward. One British expat, RGB Networks CEO Jef Graham, said: “In the rest of the world, when someone presents an idea, the response is often; Here’s why you can’t do it. In America, the response is what a great idea. That is a unique strength as a nation.”
This news comes as we recently learned that QROPS for British expatsin the US are now available, giving expats greater scope to maintain their foreign-created wealth when they enter retirement.