Google, eBay, Tesla, AT&T, and Kohl’s. These are just a handful of highly regarded businesses we know by name, but what is the common factor amongst them all? Is it their shared drive to succeed? The products they sell?
While their communal success may be part of it, these industry giants are in fact immigrant-founded. Proven by their longevity and renowned brand reputation, such businesses are the reason immigrants have been long-time contributors of American innovation and economic resilience.
Immigrants comprise approximately 13.6% of the U.S. population, yet they represent nearly a quarter of all business owners. From brick-and-mortar stores to manufacturing firms and healthcare solutions, it is no doubt immigrant-owned enterprises have become cultural bridges and community staples for American citizens everywhere.
“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,” says Ankit Shrivastava, Founder and Managing Partner of Enventure, a private equity firm helping family-run businesses evolve through generational transitions.
Many entrepreneurs who have built prosperous businesses have done so with a great sense of ownership and identity. But when it comes to passing the reigns to a younger generation, there’s often no clear roadmap in place. In a survey from the US Bank, results showed that only 54% of business owners have a formal succession plan. For immigrant-led businesses, that number may be even lower. Alongside that, 4 in 10 entrepreneurs say they plan to sell their business in the next 12 months, suggesting how quickly transitions may be approaching for many entrepreneurs.
Without a transition strategy, years of hard work and deduction can quickly vanish. And while the future of family businesses remains uncertain, planning for leadership succession is one of the most critical factors businesses owners must face. Due to this, some investment firms are starting to take notice, where these groups advocate for sustainability centered around the original founder’s legacy and financial health.
“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,” Shrivastava added.
The challenge isn’t just having a transitional plan, it is also an emotional burden. For many immigrant owners, their businesses stand as deeply personal accomplishments tied to their values and beliefs. Letting go, or even grasping the concept, can certainly come with sacrifice and unpredictability.
One growing area of interest for immigrant-led businesses is how they can retain their legacy in a gradual step. This includes not just leadership transitions, but also operational scaling, formal training, and clarifying processes. Making this shift can ease the transitional phase once it officially has to happen.
Preserving a family business doesn’t mean being reluctant to change. In reality, many second-generation leaders are eager to modernize their eventual businesses as advanced technology expands and new markets enter the workforce. But doing so successfully often depends on mutual respect between generations, as well as a shared understanding of what the business stands for.
Succession, as it seems, becomes a matter of who will take the lead next and how. How will values continue to be carried forward? How can operations move along without losing the owner’s original vision? How can the business be optimized without comprising what made it valuable in the first place?
These are the important questions immigrant owners must ask as they near an end to their leadership. However, the implications aside, one thing is clear: immigrant-founded businesses are at a serious inflection point.
Next time you hear the word “Google” or “eBay,” perhaps this is a wake up call to their business owners who could be at stake soon. Because if one thing is for sure, it is that the decisions they make over the next few years will shape not only their future, but yours as a consumer.