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Entrepreneurship Isn’t the American Dream, It’s an American Reality

The Land of “If You Dream It, You Can Be It” is for Everyone
Release Date: 
Thursday, July 7, 2016
Release Number: 
16-07-01
Contact: 
Chris Hatch christopher.hatch@sba.gov

 

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.