Dec 10, 2009

More immigrants leap into business ownershipBy Maria SacchettiBoston.com

Chelsea, MA – People thought Melissa Vo was crazy to launch a new restaurant in the middle of a recession.

The single mother, a refugee from Vietnam, had never managed a business, and the only place she could afford to rent in February was a tiny hole-in-the-wall across from a laundry and a corner bodega in Chelsea. But Vo, after 25 years in America, believed that the only way to make it was to become her own boss.

Call it immigrant drive, or desperation, but immigrant-owned businesses are popping up at levels unimaginable decades ago. Last year, an estimated 61 percent of new businesses were launched by immigrants, according to a Babson College survey.

“I always wanted to work for myself. It’s not easy, but something drove me to it,” said Vo, 32, as she sat behind the counter at Fusion Foods on Everett Avenue while a fighting fish named Sushi swam in a glass bowl. “I think a lot of immigrants who have opened their own businesses believe it’s the only real way to have an easier life.”

Immigrants, who also account for 23 percent of established businesses, are anchoring downtowns in cities and remaking the suburbs across the region, launching businesses as varied as biotech firms, bridal salons, and bakeries.

Read complete article.