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).

Short URL: https://indiandownunder.com.au/?p=10342

Posted by on Jan 22 2018. Filed under Australian News, Community. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Comments are closed

Search Archive

Search by Date
Search by Category
Search with Google