New research shows migrant business owners are innovative, ambitious and create jobs

Sudhir Warrier ”“ from vegetable business owner to CEO of a cruise company!

22.1.2018.

• New research released today shows that  migrant business owners  are innovative, ambitious and creating jobs in Australia
• 1/3 of Australian small businesses are run by migrants, and the CGU  Migrant Small Business Report  reveals they are over-performing across a range of measures
• In addition, the research shows that migrant-owned businesses could potentially create up to 200,000 new jobs in the next five to 10 years
• More than 900 business owners were surveyed as part of the  Migrant Small Business Report,  developed to shine a light on the role migrants have in Australia’s small business sector

KEY FINDINGS OF THE RESEARCH ”“ CGU MIGRANT SMALL BUSINESS REPORT:

• Eight in 10 (83%) migrant business owners started their first business venture after moving to Australia.
• Well educated:  51% have a degree or higher (compared to 38% of non-migrant business owners)
• Working hard:  42% are working more than 40 hours a week (compared to 35% on non-migrant business owners
• More than a third (36%) of migrant business owners says their cultural background has helped them succeed
• Nearly one quarter started their business to try out an innovative or new idea (23% compared to 16% of non-migrants).
• One in two migrant business owners are aiming to generate higher revenue in the next five years (47% compared to 38% of non-migrants).
• One quarter of migrant business owners are training young people in the community (25% compared to 19% of non-migrants).
• One in three migrant business owners are planning on growing their business with new hires (33% compared to 25% of non-migrants).

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