complement the unique social fabric of business life in the community.
Washington, DC (Vocus) April 10, 2009
The United States African Chamber of Commerce (USACC) commends the immigrant community in the U.S., recognizing their contributions to the economy, intellectual capital, and social fabric of the nation. Immigrant groups across the nation contribute to the economy by filling jobs, providing services, purchasing goods and services, and revitalizing neighborhoods and communities that are in decline. Immigrant entrepreneurs take advantage of the ethnic market and ethnic clientele filling gaps left by mainstream American entrepreneurs. Thus, immigrant entrepreneurs do not displace native-born entrepreneurs but rather expand into areas not otherwise exploited, contributing to the growth of the American economy. In 2002, Hispanic-owned businesses had sales in excess of $226.4 billion, and the 1.2 million black-owned firms in the U.S. generated revenues of $88.8 billion.
Immigrant entrepreneurs contribute not only to the economy, but to the American culture as well. As one study of Little Village in Chicago indicates, formal storefronts and street vendors "complement the unique social fabric of business life in the community." Immigrants provide new ideas and perspectives, make vital contributions in the fields of science, technology, and others, and they share their cultural traditions, art, and cuisine that enrich our quality of life.
Efforts aimed at investing resources and promoting education and culture in immigrant communities is a significant, cost-effective solution to reduce poverty, promote economic growth, create jobs, and even reduce intergroup conflict in the U.S.
The USACC is the leading advocacy organization for U.S. African relations and emerging African markets. The USACC is the umbrella organization for African chambers of commerce and professional trade and business associations throughout the United States and abroad.
U.S. African Chamber of Commerce
Martin Mohammed, President