In times of economic crisis, when unemployment fgures are soaring, independent entrepreneurship is often seen as a way out of a situation of economic stagnation, both on an individual and a more general level. Those parts of the population that suffer disproportionately from unemployment are thought to be especially able to beneft from making the move to self-employment and becoming small business owners, taking their fate into their own hands. Not only locals but also immigrants make this move. This article studies those immigrants that were part of the 'guest worker migration' to Western Europe in the post-war period. What kind of businesses did they set up? What were the constraints and opportunities surrounding the establishment of these businesses? What kind of social capital did they use? And to what extent can we call this entrepreneurship 'ethnic'? It is these and other questions that this article will try to answer.

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