ONE IN every seven UK firms was set up by a migrant to the country, according to research released yesterday, showing the contribution of entrepreneurs from abroad.
A report from the Centre for Entrepreneurs and DueDil, a financial technology firm, suggests that these firms have created 14 per cent of jobs in the UK.
“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,” said DueDil founder Damian Kimmelman.
The report adds that based on their likelihood to found a business, migrants to the country are a very entrepreneurial group: 17.2 per cent launch businesses, against 10.4 per cent of people born in the UK.
Irish people are the most likely to come from abroad to start a UK businesses, followed by migrants from India. Chinese, Polish, Pakistani and Nigerian entrepreneurs all make the top ten.
London is by far and away the most common location for migrant-founded companies, with 220,637 in the capital. Barely a tenth as many are set up in Birmingham, which is the second most common location.