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This paper evaluates the economic benefits of self‐employment in Canada for 12 groups of ethno‐racial immigrants. It tests whether or not their self‐employment earnings are higher or lower than similar groups in wage and salary employment, whether ethnic minorities earn more or less from self‐employment compared to White immigrants, and whether self‐employment earnings of immigrant groups vary by their industrial sectors of employment. Using the Canadian Census 2006, I show that self‐employed ethno‐racial immigrants earn less than White immigrants. I also show that the economic benefits of self‐employment depend on the ethno‐racial groups and the industrial mix of their self‐employment.