With National Small Business Week just around the corner and Hispanics creating businesses at 15 times the national rate in 2015, the personal-finance website WalletHub conducted an in-depth analysis of 2016’s Best Cities for Hispanic Entrepreneurs.
To help Hispanic entrepreneurs find the most fertile ground for their enterprises, WalletHub’s analysts compared the 150 largest U.S. cities across 19 key metrics. Our data set ranges from “Hispanic entrepreneurship rate” to “Hispanic income growth” to “share of Hispanic-owned businesses.”
| Top 20 Cities for Hispanic Entrepreneurs | |||||
| 1 | Laredo, TX | 11 | Amarillo, TX | ||
| 2 | El Paso, TX | 12 | Plano, TX | ||
| 3 | Corpus Christi, TX | 13 | San Antonio, TX | ||
| 4 | Pembroke Pines, FL | 14 | Chesapeake, VA | ||
| 5 | Baton Rouge, LA | 15 | Miami, FL | ||
| 6 | Hialeah, FL | 16 | Irvine, CA | ||
| 7 | Brownsville, TX | 17 | Springfield, MO | ||
| 8 | Sioux Falls, SD | 18 | Grand Prairie, TX | ||
| 9 | Tulsa, OK | 19 | Mobile, AL | ||
| 10 | Oklahoma City, OK | 20 | Overland Park, KS | ||
Comparing the Best & Worst:
- Hialeah, Fla., has the highest percentage of Hispanic residents, 95.6 percent, which is 61 times higher than in Jackson, Miss., the city with the lowest, 1.6 percent.
- Montgomery, Ala., has the lowest Hispanic unemployment rate, 3.88 percent, which is five times lower than in Detroit, the city with the highest, 20.86 percent.
- Irvine, Calif., has the highest percentage of Hispanics with at least a bachelor’s degree, 53.09 percent, which is 10 times higher than in Detroit, the city with the lowest, 5.10 percent.
- Detroit has the highest percentage of affordable housing for Hispanics, 68.23 percent, which is nine times higher than in New York, the city with the lowest, 7.43 percent.
- Pembroke Pines, Fla., has the lowest Hispanic renter-to-owner ratio, 0.47, which is 12 times lower than in Worcester, Mass., the city with the highest, 5.54.
By Richie Bernardo, For a WalletHub News Release for SouthFloridaReporter.com, April 28, 2016
