In today’s age, immigrant-owned businesses have long been a driving force in the American economy. From household names like Costco and Amazon to local brick-and-mortar shops around the corner, immigrant founders have played a key role in shaping industries, creating jobs, and gathering communities.
While immigrants comprise just over 13.6% of the U.S. population, they represent nearly a quarter of all business owners. More than not, their drive to build something lasting has been instrumental in the country’s success. Yet, as many of these businesses approach a generational crossroads and the founder is forced to step away, one critical question lies: What happens when a successional plan is not in place?
Like one business expert argues, immigrant-founders are at the age of retirement, meaning their businesses are quickly nearing an era of transition. As the Founder and Managing Partner of Enventure, a firm focused on supporting immigrant-owned businesses, Ankit Shrivastava believes now is the time to keep these entities alive.
“Immigrant-led family businesses are the backbone of many communities, yet often overlooked by traditional private equity. Our job is to see these businesses not just as financial opportunities, but as legacies worth preserving,” Shrivastava said.
For Shrivastava, helping immigrant-led businesses transition is about implementing a smart strategy, while also unlocking long-term priorities. Though many baby boomer business owners are projected to leave soon, over two-thirds in the next two years due to retirement, having a proper succession plan can allow immigrant families to continue their hard work and legacy.
“Our model is built around alignment with founders and families—we bring operational expertise through our ValueEdge™ framework while honoring the values that built the business in the first place. With a patient 5–6 year investment horizon, we focus on sustainable growth and generational continuity, delivering value without compromising purpose, people, or identity,” he added.
Data shows that immigrant entrepreneurship is fundamental to a healthy economy, where many of these firms have welcomed immense opportunities for job seekers. According to the American Immigration Council, 46%, or 230 immigrant-founded companies, made the Fortune 500 list in 2024. Of these companies, together they employ over 15 million people–a number proving the great value of immigrant-owned businesses.
Similarly, among the same companies listed, some are headquartered in prosperous, mission-driven areas. In particular, immigrant-founded businesses have been heavily found in New York, Texas, and California, three states that function as central business hubs with increased investment and development. Typically, these places have also offered professionals a place to gather and engage, another reason for immigrant-led companies positively fostering the U.S. labor force.
As much of the research demonstrates, immigrant-owned businesses have contributed to numerous populations nationwide. Though they thrive now, succession planning always remains one of their biggest downfalls.
In fact, approximately two-thirds of family businesses do not have a documented and communicated succession plan. When a business lacks this effort, it risks a variety of factors, such as financial burdens, operational disruptions, and importantly, for immigrant businesses, a loss in familial identity and culture.
Still, the challenge to step away is not just logistically challenging, but also mentally taxing. Many immigrant owners have spent their lives building companies that are meaningful and progressive, often involving a large team of employers to reach these goals. When owners are faced to suddenly leave, however, it places an emotional toll on everyone at stake.
As America continues living in a period of the “silver tsunami,” a term defined as retiring business folks, there is a growing need to equip immigrant entrepreneurs with the right tools and resources to overcome this dilemma.
Because if one thing is clear, it is that immigrant businesses make the world go round. By transition planning now, immigrant founders can ensure their culture, family, and identity stays intact, allowing them to reach consumers they’ve long served for decades.
