Large number of entrepreneurs and the heads of start-ups has filed a lawsuit against US President Donald Trump for making a delay in the International Entrepreneur Rule, which will be helpful to the foreign heads of the companies living in the United States in growing their companies further. The rule was scheduled to come in effect from July 17.
In a statement the heads of the companies have stated that immigrant entrepreneurs play a key role in strengthening the US economy, which is helpful in job creation and promoting innovation in the country.
The group has also stated that the delaying of the rule is illegal under the Administrative Procedure Act. The delay of the rule has also impacted the investment in the companies negatively, which in turn, has also affected badly on the job creation in the country.
According to a report, the rate of immigrants becoming the head of the companies, which is 0.52 percent is double than the native Americans becoming CEOs, which is 0.26 percent.
The group has also argued that the the immigrant entrepreneurs definitely playing a key role in the entrepreneurship in the country as the statistics shows that companies made in the period from 2006 to 2012 had at least one immigrant founder. Before 2006, the rate was 20 percent, which is way more higher than 7 percent in 1980.
