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22ndannualcapital

Greeks Reign as America's Leading Small Business Owners

In the United States, Greeks are the leaders in small business ownership among all of its immigrants.

As reported in a National Journal article, the Fiscal Policy Institute's Immigration Research Initiative determined that 16.1% of Greek immigrants in the American labor force are small business proprietors, out of the 75,000 Hellenic individuals. Israel and Palestine placed second with 13.2%, while Syria amounts to 12.1% and Iran holds 11.8%.

Fiscal Policy Institute Senior Fellow David Dyssegaard Kallick described, "For Greeks, it's likely that a lot of them have been here for a longer period of time...And, in general, immigrants who have been here longer have established a stronger footing in the economy and more likely to become business owners."

The article discusses efforts originating from immigrant's paths, before they move to the United States. As Peter and Charles Moskos state in their book Greek Americans: Struggles and Successes, "The Greek peasant participated directly in a market, rather than a subsistence, economy. Land and agricultural products were commodities to be bought and sold...The Greek villager was already eager to emulate consumer and city lifestyles. Ostensibly peasants, Greek migrants were mentally primed before their departure to take advantage of capitalistic opportunities as they might appear in the new country".