As global migration continues to define and reshape nations, immigrant entrepreneurs have begun to be increasingly focused. Immigrant entrepreneurs are individuals who set up and run businesses outside their home countries. Little is known about their involvement in small business, as discussions on their business issues, business success, and business prospects in the host countries are not readily available. The extent to which business issues affect immigrant entrepreneurs’ business success and hence their business prospects has not been researched much. The purpose of this research is to assess the mediating effects of business success on the relationship between business issues and business prospects of immigrant entrepreneurs in Malaysia. A quantitative method was used to investigate 316 immigrant entrepreneurs in small retail enterprises in Kuala Lumpur, Malaysia. The findings showed that immigrant entrepreneurs are well prepared for business and have sufficient experience before initiating a business. The analysis of structural paths showed a significant indirect effect of the business success on the relationship between business issues and business prospects. A significant positive direct effect on the business issues and business prospects also emerged. The findings indicated that immigrant entrepreneurs and their business activities can be a source of employment generation and future impetus for economic growth. The study concluded relevant development authorities in Malaysia should integrate necessary supports for immigrant entrepreneurs into the mainstream entrepreneurial development programs.