Keywords: economic growth, globalisation, co-ethnic networks, entrepreneurial activity, entrepreneur interdependence, ethnic entrepreneurship, immigrant entrepreneurs, ethnic entrepreneurs, multi-ethnic networks, immigration, new businesses, business initiatives, networking, wealth creation, Europe
Unleashing ethnic entrepreneurship: proactive policy-making in a changing Europe
Amid mounting concerns in post-2004 Europe about economic growth and competitiveness in global markets, immigrant/ethnic entrepreneurs successfully incorporate and manage new businesses that satisfy ethnic needs, create new jobs, buttress other businesses, stimulate competition and contribute to national coffers. Instituting appropriate immigrant/ethnic entrepreneur-centred policies and initiatives that encourage greater use of co-ethnic, multi-ethnic and host-country business networks could nurture this entrepreneurial activity. This study, incorporating literature and publications within several countries in Europe and elsewhere, reviews entrepreneur interdependence from the networking perspective since, traditionally, immigrant/ethnic entrepreneurs have been self- and mutually reliant. It recommends appropriate policies and initiatives be developed and implemented to promote this mutual reliance to ensure ethnic/immigrant enterprises are (a) increased in number, (b) aided to survive and thrive, (c) accelerated in their growth and (d) facilitated to become more competitive nationally and internationally. Six action areas are proposed.