Our mission is to bring you "Small business success... delivered daily.". 8. It offers more than great BBQ and music. With close to 8 million minority-owned businesses in the country, identifying cities which are favorable in achieving success for minorities is a valuable insight for making an informed decision. San Antonio, Texas (tie) Median household … Ghanaian politicians have long been advocates of the pan-African movement. The simple act of moving your business to the right city or state could make all the difference in the world.eval(ez_write_tag([[300,250],'smallbiztrends_com-medrectangle-3','ezslot_0',149,'0','0'])); In addition to the best cities, the report also looks at the worst cities and provides resources minority owners can use to help them on their entrepreneurial journey. From the first HBCU to the highest amount of Black-owned banks in the country, many of the cities hold unforgettable African- American history that attracts an urge to give back and create unity within these communities. No question about it. With over 900 employees, Radio One has grown to be the largest African-American owned broadcasting company in the country. We tapped some of our favorite black travel bloggers and influencers to find out their favorite destinations of 2019. California has the most cities in the top 10 with four. As to the number of years in operation, the number was lowest in the list with 27.3%. This is because there are a host of factors which affect the success rate of entrepreneurs, and one of these is location. Nearly 9 in 10 Black … Privacy Policy    Visitor Agreement     Media Kit. So how did LendingTree come up with the best cities for minority business owners? Adobe Stock The best city for Black women to live based on education, economics and other related measures is the Washington, D.C. area, with Baltimore following a close second. It is important to take note of these when you are starting out. This includes San Francisco and San Jose, which were number one and two respectively. It’s been 400 years since the first slave ships departed from the shores of West Africa before arriving in the Americas. … It will help you know the best places you can start for a bigger chance of success. We're giving the best cities, restaurants and experiences for black women to enjoy when traveling. ... really fast” after launching as a food truck in January 2019. The scoring was based on the percentage of minorities in each MSA who identify as self-employed along with the percentage of minority-owned businesses that have been in operation for six or more years.eval(ez_write_tag([[300,250],'smallbiztrends_com-large-leaderboard-2','ezslot_1',151,'0','0'])); In terms of revenue, the businesses were making at least $500,000 annually, which was calculated from the 2016 Annual Survey of Entrepreneurs. With an extremely low rate of unemployment and some of the best job opportunities in the entire country, Raleigh is a great place to find work and put down roots. Atlanta, Georgia. April 2019 Center for Policy Analysis and Research Tiffiany Howard, Ph.D.1 ... of black entrepreneurs in comparison to foreign-born minority entrepreneurs; and 2) Evaluates the economic and entrepreneurial outcomes for African ... implement best practices and strategies As entrepreneurship continues to rise, cities such as the D.C.-Maryland-Virginia metropolitan area have become great places to cultivate new ideas and companies. As the top city, San Francisco had a final score of 83.9 with 4.3% of minorities identifying themselves as self-employed. He agreed that Atlanta is a top spot for black entrepreneurs but said cities like Houston, Chicago, New York and Los Angeles might have stronger potential because of … For the third year in a row, MagnifyMoney has analyzed and ranked the 50 largest U.S. metros to find the best — and worst — places to be a working woman in 2020. With three-quarters of all donations going towards the programs and services it delivers, the National Civil Rights Museum is a worthy recipient of your dollars this Black History Month. Known for its booming tech industry leading to the area’s designation as part of the Silicon Slopes, Salt Lake City is a magnet in the western U.S. for young entrepreneurs. The best city for Black women to live based on education, economics and other related measures is the Washington, D.C. area, with Baltimore following a close second. Vancouver. Best Cities for Minority Entrepreneurs San Francisco tops the list with the highest rate of self-employed minorities as well as high parity of business ownership. All Rights Reserved. Many of these cities have similar characteristics that make them perfect for cultivating Black businesses. Montgomery, Alabama. Take a look at the magazine’s 2018 list of cities where African-Americans are doing the best economically. Reaching well over 100K, many of the cities house the largest populations of African-Americans in the country. FILE - In this April 12, 2019, file photo, people enter the campus of Morehouse College in Atlanta. "The best cities for entrepreneurs changed greatly from 2018 to 2019," Kelly Main of Fit Small Business wrote in the report. This is a very formidable list however Detroit City definitely must be in the top 5. According to the company, the 50 largest metropolitan statistical areas (MSAs) in the US were scored by analysts. Black Enterprise editors and contributors are always on the lookout for the best business advice for black entrepreneurs from a wide range of sources. Richmond, Va. Salt Lake City. In contrast, West Virginia came in last place for entrepreneurs and startups, even though Alaska, which took 49th, has a higher unemployment rate. Brooklyn alone has more women-owned businesses than all but three other U.S. cities: NYC, Los Angeles, and Chicago. So whether you’re going abroad for the first time or you’re a seasoned traveler, here are six of the best places for black travelers to visit this year. Hello Alice data found that more than half of Black small business owners said that their business performed worse in 2020 compared to 2019, but there is still hope! Savannah, Georgia. It is no surprise that cities like Atlanta, Miami and Washington, D.C. are at top of the list. © Copyright 2003 - 2021, Small Business Trends LLC. Being located around the most northeast part of the state, North Carolina, Raleigh is evolved into one of the more diverse cities in the entire state. Entrepreneurs flock to city for its low … Alaska’s unemployment sits at 6.6%, the highest in the nation, compared to West Virginia’s 5.3%. The 10 Best States for Entrepreneurs in 2020. In the 21st century, over 1M African-Americans have migrated to Southern states. The Charlotte-Concord-Gastonia metro was ranked eighth, a major bump from being in 22nd place in 2019’s study. Take a look at the magazine’s 2018 list of cities where African-Americans are doing the best economically. ... $520 at Best Buy. San Francisco tops the list with the highest rate of self-employed minorities as well as high parity of business ownership. Located near the northeast part of North Carolina, Raleigh is one of the most diverse cities in the state. Perfect right?For family entertainment, check out some of the museums in Raleigh, like the Afric… The plurality (42 percent) of Black entrepreneurs are very happy as small business owners. Washington, D.C. Durham, North Carolina. Miami, Florida. Minority business owners can access resources locally, statewide and nationally to help them run their business more effectively. This was limited to businesses with paid employees which have been designated minority or equally minority/non-minority owned. Top cities like Detroit, Baltimore, Birmingham and Savannah all have booming percentages that make them great markets to attract Black consumers. Richmond, Virgina. Atlanta and Washington, well-known large cities for their inclusiveness are in a tie to demonstrate that black Americans are economically better and enjoy relatively high median incomes. The top 20 cities for Black entrepreneurs to start a business. Atlanta has long been a go-to for black folks looking to travel to a place where we … This not only shows a cultural shift but the desire for more affordable economic opportunities. Cash is the most popular small business funding option for Black small businesses; 43 percent of Black entrepreneurs used cash alone or combined cash with another financing method to … Miami. Memphis, Tennessee. Dallas. Other studies revealed that Atlanta is … Keep up the good work. There is a low unemployment rate, wonderful job opportunities, and the schools in Raleigh are some of the best.As for the climate in Raleigh, you can expect four very distinct seasons and temperatures that typically don’t climb above 90°. Read on for our 2019 rankings for Best Cities for Young Entrepreneurs.. 1. A new report from LendingTree looked at 50 cities across the US which are conducive to the success of minority entrepreneurs. Using the county’s most populated cities, the website ranked the best places for Black entrepreneurs to consider. Clayborne Carson of Stanford University, a noted King scholar, has said the museum provides the "best and most recent scholarship on civil rights available today." Minority Chamber of Commerce, and U.S. Small Business Administration. On top of that, with some of the best schools around, your children will get the education they need to be successful later down the ro… Here are the top 10 cities where black people are doing the best economically: 10. According to the report, three of the top cities in which minorities struggle in are in the Midwest. 5 Places Black People Can Move to When They’ve Had Enough of America. Let’s take a look at the 15 best U.S. cities (outside of Silicon Valley and the East Coast), to build your … As many are traveling to the country this year to connect with their an… Black businesses are as successful as ever and statistics definitely show that location matters. Memphis reigns supreme as the top city for black-owned businesses. Photo credit: Syda Productions / Shutterstock.com. Owning about 1.9M businesses in the U.S. today, Black companies have increased by over 60% since 2002. Some characteristics include: In this study, 8 out of 20 cities had African-American mayors. The actual number of Black entrepreneurs or Black-owned businesses in Polk County is unclear. So in 2019, Ghanais welcoming people of African descent to visit with the promise of easier visa applications and a year-long calendar of culturally immersive events. Michigan and D.C. are the only states on this list that are not located in the southern region of the country. The same goes for businesses owners who have been in operation for 6+ years coming in at 56.7%. 8. The city is also home to the nation’s fourth-largest collection of Fortune 500 companies (behind New York, Houston, and Dallas) according to CNN, with heavy-hitters such as Coca-Cola, Delta Air Lines, and The Home Depot. This reveals that there is very strong minority leadership in many of the cities that support business growth, cultural ties and opportunities to understand African American communities. Share Share on Pinterest Share on FacebookShare on Twitter Image credit Moving away from the bigger picture and focusing on individual cities, indications are now emerging that there are cities for African-American singles over 40 to prosper. 5 Places Black People Can Move to When They’ve Had Enough of America. The other two, Los Angeles and Sacramento took the number four and seventh place in that order. The parity index was not the highest at 68, and at 42.6% the number of owners who had revenue of $500K also wasn’t tops. Although Miami is 44th in the U.S. in terms of population, the city comes in at number five. © 2020 Rolling Out. In a… "Small Business Trends" is a registered trademark. Median black household income: $43,265 Homeownership rate: 48.6 percent. A discussion of Black entrepreneurship isn't complete without Black Enterprise magazine, which itself is responsible for highlighting, championing, and guiding Black entrepreneurs in America. "Previously, the top cities were those based in coastal regions of … Entrepreneurship is the key to building Black wealth in America. St. Louis had a final score of 33.2 with only 2.5% of minorities who are self-employed in the city. Cities including Atlanta, Houston and Washington, D.C. all have very successful professional programs and Black chambers of commerce. The area was listed as having women owning 19% … You can look at the rest of the top ten in the interactive graph from LendingTree. The New York-Newark-Jersey City metro area took the overall top spot, followed by the Chicago, Dallas and Seattle metro areas. eval(ez_write_tag([[580,400],'smallbiztrends_com-large-mobile-banner-2','ezslot_8',147,'0','0'])); Happy to see any and all entrepreneurs succeeding. We're giving the best cities, restaurants and experiences for black women to enjoy when traveling. This rainy city on the west coast is one of the biggest and best-known startup centers in … Planted right in the heart of Silver Springs, Maryland, the bustling business is surrounded by the highest percentage of Black millionaires and successful African-American neighborhoods. Ownership parity in the city was at 71, but of those only 18.1% managed to generate $500K in revenue. ... American Express Helps Small Business Recovery And Invests In Black-Owned Businesses By. Entrepreneurship is strong, with some 20% of the metro area’s black working population self-employed, the highest proportion in the nation, and though median black … ... $520 at Best Buy. Baltimore, Maryland. 3-year revenue growth 113% | Inc. 5000 companies 74. Best Cities for Young Entrepreneurs. The low unemployment rate, a decent cost of living and city leadership like that of the newly elected mayor, Keisha Bottoms, makes Atlanta a popular metropolitan area for black entrepreneurs. Popular industries that continue to dominate include beauty, food & beverage, auto and technology. San Antonio, Texas (tie) Median household … According to the personal finance website, NerdWallet, there are certain cities that definitely stand out above the rest. If you are thinking of starting a business or looking to compare your own city, check out the top 20 places for Black businesses to thrive per NerdWallet: Honorable mention: although Chicago, Columbus, Ohio, and Los Angeles didn’t make the top 20 list, they are all cities that are very populated with African-American communities and produce a substantial amount of job revenue each year. St. Louis, Kansas City, Mo., and Cleveland took the 50th, 49th, and 48th spot on the list respectively. Atlanta, Georgia. Top 13 Podcasts for Entrepreneurs Today (INFOGRAPHIC), 7 Tasks Your Small Business Should Outsource, The Epic Business Fails of the World's Top Entrepreneurs (INFOGRAPHIC), 6 Tricks to Get Your Projects Done on Time With a Small Team, CBRE Says Revenue Per Available Room Will Recover to 2019 Levels by 2023, 91% of Customers Prefer Small Businesses When Convenient. Some of the resources LendingTree recommends include the Minority Business Development Agency,  U.S. https://www.ebonyjet.com/best-cities-in-america-for-black-families-to-live Although challenges still remain, Black entrepreneurs are still making waves in their markets each day. In fact, recently released data from the U.S. Bureau of Labor Statistics show Atlanta is one of the best cities for jobs. A discussion of Black entrepreneurship isn't complete without Black Enterprise magazine, which itself is responsible for highlighting, championing, and guiding Black entrepreneurs in America. April 2019 Center for Policy Analysis and Research Tiffiany Howard, Ph.D.1 ... of black entrepreneurs in comparison to foreign-born minority entrepreneurs; and 2) Evaluates the economic and entrepreneurial outcomes for African ... implement best practices and strategies 4 cities are leading the way in supporting business owners. Required fields are marked *, Founded in 2003, Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. The result is a window into some of the best and worst cities for black women. It … Baton Rouge, Louisiana. Where will you go next? All rights reserved. The result is a window into some of the best and worst cities for black women. Our study looks at the best places for working women in terms of job opportunities, the chance for upward mobility and entrepreneurship, fair wages and protections for mothers. Your email address will not be published.