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For minority entrepreneurs, choosing a business location that includes a diverse community and business friendly services can make a huge difference. Business ownership in the United States is varied and reflects our diverse and growing population.
However, minority businesses are also found concentrated in communities with strong tourism, fashion, fashion, finance and food service industries — among many others.
In an effort determine the different kinds of entrepreneurs drawn to different communities, Small Business Trends conducted a study drawn rim U.S. Census data beginning last week with the 30 Top Cities for Women Entrepreneurs.
The 30 cities listed below represent the cities with the most minority entrepreneurs, according to the U.S. Census Survey of Business Owners in 2012, which is the last year that the Census gathered this data on entrepreneurship.
30 Top Cities For Minority Entrepreneurs
Read on to see which cities have the most minority owned businesses and the industries they are in.
New York City
As the biggest city by population in the U.S., it shouldn’t be too surprising that New York City also has the largest number of minority entrepreneurs, with 539,447. In addition to the large population, the large base of minority entrepreneurs can be attributed to booming industries like tourism, fashion, finance and food service.
The second largest city in the U.S. is also boasts the second largest number of minority business owners, with 247,710. Due in part to the large entertainment industry in L.A., there’s a huge need for businesses in a variety of different creative fields. Hospitality, tourism, transportation and food are all large industries in this city.
The fourth largest city in terms of population is third on the list of most minority entrepreneurs, with 155,654. Aside from the population, Houston also has Texas’s lack of corporate income and personal income taxes on its side. Houston also has a number of incentives and programs, such as enterprise zones and industrial districts, aimed at getting business owners to start or relocate their businesses to the city. Key industries attracting minority business owners are engineering, construction, technology and medical.
With 140,109 minority business owners, the third most populous city in the country has the is fourth in terms of minority owned businesses. Chicago’s large number of professional and educational institutions, along with tourism, retail food, technology and creative industries, are key reasons why the Windy City is one of our top cities for minority entrepreneurs.
Although Miami is 44th in the U.S. in terms of population, the city has 77,125 minority entrepreneurs. Aside from the warm climate and diversity of the city overall, Miami also offers business incentives such as enterprise and empowerment zones. Tourism, cruise, retail food, entertainment and construction attract minority businesses to Miami.
San Antonio has about 71,287 minority business owners and ranks seventh in terms of overall population. Aside from Texas’s lack of business and personal income taxes, San Antonio also offers some property tax programs that could benefit local businesses, along with foreign trade zones, industrial districts and more incentive programs to bring businesses to the area. Manufacturing, agriculture, tourism and engineering opportunities attract minority business entrepreneurs here. The community also has the San Antonio Hispanic Chamber of Commerce, which is one of the oldest chamber organizations servicing the hispanic community.
Dallas is another city that has Texas’s tax structure on its side when it comes to attracting business owners. The ninth largest city in terms of general population has 65,749 minority entrepreneurs. Aside from the tax structure, Dallas’s infrastructure, cost of living and available workforce may contribute to the large number of minority business owners. Target industries such as building, food manufacturing, sports, media, and IT make Dallas a prime top city for minority entrepreneurs.
The city with the 18th largest population in the U.S., Detroit, has 50,946 minority business owners. Aside from the overall diversity of the city, other contributing factors include the city’s large number of engineers, construction and manufacturing professionals, along with a growing tech sector that’s attracting business owners to the area. Some of the city’s organizations and businesses have even banded together to form the Entrepreneurs of Color Fund to support minority owned and run businesses in the area.
With 50,762 minority entrepreneurs, this popular city ranks ninth on this list. San Diego draws in entrepreneurs from a variety of industries, including aerospace, maritime, cybersecurity and manufacturing, through research, advocacy and similar support programs.
Philadelphia has the fifth largest population in the U.S. and about 48,743 minority business owners. The city’s neighborhood revitalization efforts, skilled workforce, centralized location and corporate support initiatives are draws for businesses in the tourism, sports, retail food and technology fields. Philadelphia also has a minority led entrepreneur accelerator program.
With 46,128 minority entrepreneurs, the city with the 14th largest population has a larger than average entrepreneurial community thanks to a diverse and innovative community. San Francisco’s research centers, universities and business leaders make it an attractive option for tech business owners and those in creative industries.
The 10th most populous city in the U.S. has about 45,686 minority owned businesses. San Jose works to attract entrepreneurs through workforce development, real estate and cultural programs. Minority business owners in the area also have access to organizations like Yes We Code, which help African Americans and other minorities find entrepreneurial opportunities in Silicon Valley.
The sixth largest municipality in Florida and 88th largest in the U.S., Hialeah boasts a minority entrepreneur population of about 45,245. The city has a large Hispanic population, proximity to major transportation and a vibrant community of independently owned shops and restaurants contribute to Hialeah being one of our top cities for minority entrepreneurs. city.
Memphis ranks 20th in the country in terms of population and has 43,949 minority entrepreneurs. The city offers tax incentives, site selection assistance, research services and similar resources in order to attract businesses to the area. Target industries include bioscience, manufacturing, green business, and music and tourism.
El Paso has about 43,311 minority business owners and is the 19th largest city in the country. In addition to the lack of corporate and individual income tax expenses for entrepreneurs in Texas, El Paso offers foreign trade zone incentives and is home to the second largest Army base in the US.
The sixth largest city in terms of general population has 39,596 minority business owners. Technology, manufacturing, bioscience and advanced business services are all growing industries in Phoenix. In addition, the city also has a diverse talent pool and proximity to several high profile educational institutions as well as an Entrepreneurial Training Program for African Americans.
With 33,952 minority business owners, Fort Worth attracts entrepreneurs with its low cost of living, business friendly tax structure and talented labor pool. The city, which is 16th in terms of overall population, also offers enterprise zones, public improvement districts and neighborhood empowerment zones to increase entrepreneurship in the area.
Charlotte ranks 17th in terms of general population and has 32,449 minority owned businesses. The city draws in minority business owners with programs and incentives like tax credits, financial programs and even contracting opportunities. The city also has several business districts that it is working to revitalize making it an attractive option in our list of top cities for minority entrepreneurs.
Ranked number 40 in terms of overall population, Atlanta boasts 30,104 minority entrepreneurs. The city works to attract business owners and grow its business community by providing small business loans, issuing bonds to spur commercial development and promoting other relevant business incentives. The city also offers plenty of affordable housing options and other quality of life perks, like a large number of sporting teams.
The nation’s capital has about 29,983 minority business owners, and is the 24th largest city by population. Government contractors and political service providers are of course more popular in Washington, D.C. than they are in many other cities. But the city also offers business improvement districts, community development corporations and similar programs to improve and grow its business community.
Austin ranks 11th in overall population and has 28,888 minority entrepreneurs. The city offers the same tax benefits as the other Texas cities on this list. And with a vibrant music, arts and creative scene, it’s a big draw for diverse, creative and young entrepreneurs.
With 28,092 minority entrepreneurs, Honolulu has the 54th largest population in the U.S. The city’s booming tourism, hospitality, agriculture and film industries lead to it being a top pick for entrepreneurs in many different areas.
The 26th largest city in the U.S. has about 27,673 minority owned businesses. With business friendly features like steady tax rates, counseling and talent recruitment, Baltimore’s local government and business community works to create a diverse and tight-knit business community.
Jacksonville currently has about 27,446 minority entrepreneurs and ranks 12th in overall population. The city is working to redevelop some of its economically distressed areas and promote private capital investment for businesses in the area. In addition, the largest city in Florida offers huge local festivals and a growing cruise industry, part of what might draw some of those business owners to the city.
With 25,159 minority owned businesses, Long Beach is the 36th largest city in terms of population in the country. The city’s business friendly tax structure, improved city services and a number of other incentives make this a popular community for business owners to settle in.
Laredo is the 81st largest population in the U.S. and boasts a minority entrepreneur population of about 24,727. Aside from Texas’s business friendly tax structure, Laredo also has a large Hispanic population and close proximity to Mexico.
Oakland’s 22,217 minority owned businesses make the 45th largest city in the U.S. one of the top choices for minority entrepreneurs. The city’s innovative and diverse community, along with its proximity to several other cities that are popular with entrepreneurs, make for a large minority entrepreneur population.
Columbus is the 15th most populous city in the U.S. and has about 21,926 minority business owners. The city has some very specific goals for adding capital investment and creating jobs in the community. So it is working to attract investments for local businesses, connecting startups with local resources and helping existing businesses to expand.
The booming tourism industry in Las Vegas is part of what attracts some business owners, including the 20,882 minority business owners, to the city. Tax credits, financing and other state and local incentive program also attract some entrepreneurs to Las Vegas.
With 20,400 minority owned businesses, New Orleans, the city with the 51st largest population in the U.S., rounds out the list. A vibrant arts and tourism scene, diverse population and a talented workforce that’s dedicated to revitalizing the community.
Images: Discover Los Angeles, Miami and the Beaches, Visit Detroit, Visit Philadelphia, City of Hialeah, Florida, Charlotte NC, Austin, TX, Visit Jacksonville, New Orleans
This article, “30 Top Cities for Minority Entrepreneurs” was first published on Small Business Trends
from Brent Lecompte Blog http://brentlecompte.blogspot.com/2016/05/30-top-cities-for-minority-entrepreneurs.html