You raise a good point I forgot to address. The proportion of new businesses that are started by first generation immigrants. It's much higher in that populatio

You raise a good point I forgot to address. The proportion of new businesses that are started by first generation immigrants. It's much higher in that population than with people born stateside. When you add together the unattractiveness of the economy (dampening interest to migrate) along with an uptick in anti-immigration sentiments it's not hard to see this being a big part of any short term reduction in new businesses.