BY SBA Regional Administrator Natalia Olson-Urtecho
This past weekend, Americans of every (star and) stripe came together
in their own way to celebrate the 240th birthday of our great
nation. Some attended fireworks shows, some grilled out with their
families and friends, while others made their way down crowded highways
to beach and mountain. Still others put on their work clothes and
continued chasing their piece of the American dream – be it punching a
clock or running their own business.
Amongst all of those in every category are millions of immigrants who
came to the United States because they know this is the land of
“Anything is possible.” This is the land of the immigrant’s dream –
we are a country of immigrants after all… people who have come seeking a
better life in the land of opportunity. We at the U.S. Small
Business Administration know that dream, and every day we work to make
it reality for all.
Across the United States, immigrants are starting and building
successful businesses that create good American jobs and promote our
country’s economic growth. These businesses form the fabric of our
communities, and are part of our uniquely American heritage.
According to Time Magazine, immigrants to the U.S. are twice as likely
to become entrepreneurs, and 44 percent of new tech startups in Silicon
Valley had at least one immigrant founder: Google’s Sergey Brin, eBay’s
Pierre Omidyar, and Tesla Motors’ Elon Musk are each serial
entrepreneurs who founded companies worth tens or hundreds of billions
of dollars and employ tens of thousands.
Immigrants, or their children, also founded more than 40 percent of
Fortune 500 companies, which collectively employ over 10 million people
and generate annual revenue of $4.2 trillion. Right here in
Eastern Pennsylvania, immigrant-owned businesses like Magnum Group, Inc.
operated by Vivian R. Isaak, President, are fostering vitality,
creativity and diversity in our entrepreneurial ecosystem.
The firm will be celebrating its 25th year in business this year,
clearly proof of its staying power. Magnum taps into a global network of
over 2,500 translators, language specialists and subject matter experts
– all highly vetted and credentialed – to produce translations and
multimedia content.
Growing up in Argentina, Isaak dreamed of one day living in
America. She made her way to Europe and eventually the United
States, where she achieved her dream by starting a full-service
multilingual communications company and becoming a U.S. Citizen.
Today, from its Philadelphia headquarters, and with a presence in more
than 30 countries, Magnum Group offers complete solutions to global
organizations in the commercial and public sectors. The firm
celebrates its 25th year in business this year, clearly proof of its
staying power. Magnum taps into a global network of over 2,500
translators, language specialists and subject matter experts – all
highly vetted and credentialed – to produce translations and multimedia
content.
Vivian R. Isaak is just one success story that goes to show that the
“Dream” isn’t just a dream, it’s an achievable goal. We at the
Small Business Administration can help you reach those goals.
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The mission of the SBA is to aid, counsel, assist and promote the
interests of small businesses by providing financial, procurement and
business development assistance and advocating on their behalf within
the government. All SBA programs are extended to the public on a
non-discriminatory basis.
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