"High-skilled immigrant entrepreneurs from India and China are leaving the United States by the tens of thousands each year, drawn away by better economic and professional opportunities in their home countries, according to a study released today by the Ewing Marion Kauffman Foundation. The lesson for the United States is that regions that support entrepreneurship will remain important hubs in today's global economy."
Over the past decade, poverty and underdevelopment – the "brain drain" factors that once drove the vast majority of U.S.-educated immigrants to remain here rather than returning home – have given way to startup-friendly business environments in India and China. Most returnees now say the entrepreneurial advantages are better in their home countries, where they can benefit from lower operating costs, heightened professional recognition, greater access to local markets and a better quality of life than they could attain in the United States.
However, the survey results also indicate that, while returnees' migration back to their home countries produces a "reverse brain drain" in the United States, these entrepreneurs maintain close relationships with U.S.-based colleagues, family, friends and sources of business information. These data suggest a two-way "brain circulation" with potential benefit to both the United States and these emerging economies."
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Mike's thoughts…
What does this mean for Americans interested in business development?
American businesspeople should cultivate business relationships with immigrants from foreign countries, while the immigrants are in America, to accelerate business development when these immigrants return to their native country.
Think about the big picture… If the American government is so intent on making entrepreneurship and business development difficult for American citizens, why not work with this reality in global business? Developing business relationships with business immigrants while in America can set up an American businessperson for global business in the span of two to five years.
Example: An American businessperson in Houston can consciously develop business relationships with Indians, Chinese, Poles, Germans, etc. through the local country-specific chamber of commerce and other business organizations where immigrants congregate around Houston (consider churches).
Chances are that a percentage of the immigrant businesspeople this American meets in Houston will return to their native country and develop an entrepreneurial venture in their native country. Because an American meets and mingles with these immigrants returning to their native countries while in Houston, there have been no travel expenses, cultural assimilations on the American's part, etc…. With the Internet, Skype and reliable delivery services, the only missing piece for a worldwide business is business relationships.
In essence, the American businessperson in Houston is developing a global business from business relationships developed in Houston. See where this leads? Worldwide business development from your American home base!
Global business development doesn't get any easier.
