Munich is one of the most dynamic economic locations in Europe. Part of this success are 12,000 business run by migrant citizens. They give employment to around 100,000 people from 140 different ethnic and national groups. This contribution has now been recognized with the PhoenixPrize for businesses run by migrant citizens.
The prize honours extraordinary achievement in business, as well as social and community spirit. Business volume and sales are taken into account in the prize’s evaluation system. Many small businesses have developed into mid-sized companies in just a few years, and this trend will increase.
Creating Trainee Roles and Apprenticeships
A further important criteria for participation in the prize is the creation and maintenance of trainee positions and jobs. The training and employment of young adults with low educational qualifications, who may otherwise find it hard in the job market, is particularly highly marked. Also important is integrative company management, which promotes diversity in the workplace.
Investment for Munich
The willingness of Munich’s migrant business community to invest its effort, knowledge and money in the city, shows that for these businesspeople, their life is lived in Germany. Self-employed workers with immigrant backgrounds are present in many commercial fields and sectors, primarily in small and mid-sized companies. They enrich Munich’s economy and, with their cultural heritage and language skills, are an important factor for integration in Munich.