Top 5 cities for minority entrepreneurs
Top 5 cities where minority-owned companies stay in business longer and make more money.
Source: Inc.com
San Francisco and San Jose, California, are not only home to Big Tech's all-stars, they're also the top two spots where minority entrepreneurs are thriving.
Over 42 percent of all minority-owned companies in these cities make at least $500,000 in annual revenue and more than half have been in business for six years or more, according to a new report released Tuesday by LendingTree, an online loan marketplace based in Charlotte, North Carolina. The study uses Census data to gauge how minority business owners with employees fare in the 50 largest metro areas in the U.S. It measures performance based on metrics including a company's longevity and revenue, and whether a city's minority population is proportionally represented in business ownership demographics, dubbed the "parity index."
"We did not try to say this is the best place for minorities to have or start businesses," says Kali McFadden, lead research analyst at LendingTree. "We looked at where minority businesses are doing better--it's a more forensic attitude."
See the cities below:
1. San Francisco, CA
2. San Jose, CA
3. Washington, D.C
4. Los Angeles, CA
5. Seattle, WA
