Cities in U.S. Where Hispanic Entrepreneurs are Thriving the Most

If you are a Hispanic and planning to put up a business in U.S, then this article will help you as to what state in U.S. is the best place for Hispanic entrepreneurs. If you are living in Laredo, Texas, your business has a big chance to prosper and grow!

In an article published in INC, the Southern Texas City which in the North Bank of Rio Grande has a population of more or less 260,000 and the place is known as a prominent hub for Hispanic entrepreneurs. In a report from the WalletHub, a finance website which recently compared more than 180 cities in U.S. in two dimensions; Hispanic business-friendliness and Hispanic purchasing power.

They evaluated the two factors based on entrepreneurship rate, median annual income, number of people with at least bachelor's degree among the local Hispanic population. All in all, there are 24 metrics used to evaluate the business.

Among the 180 cities in U.S., Laredo in Texas ranked first on the WalletHub's list and the place has one of the highest shares of Hispanic-business owned and also with the highest percentage of Hispanic residents. And it is the only city in U.S. that has a fertile ground for Hispanic entrepreneurs.

Meanwhile, Pembroke Pines Florida ranked second which is just 20 miles North of Miami. And according to the report that Florida and Texas are the best cities for Hispanic entrepreneurs because 15 out of 20 cities have Hispanic entrepreneurs who were found to thrive.

The INC last year recognized hubs in these two cities and they even described it as the bustling ecosystems for startups. In Texas there are three states that were included and these are Dallas, San Antonio and Houston while four states in Florida were also included and these were Orlando, Miami, Jacksonville, and Tampa. Among the cities recognized by the INC, Austin ranked first. The ranking was based in index that measured metropolitan areas with the most economic momentum.

Hispanics are playing a very important role in the U.S. economy. There are more or less 4.4 million Hispanic-owned businesses that are contributing more than $700 billion per year and this is based from the data of U.S. Hispanic Chamber of Commerce. The most surprising fact is by 2050 the Hispanics are expected to make up more than a quarter of the U.S. population.

But Hispanic entrepreneurs who are not living in Texas, Florida or in Austin do not need to worry because there are also other cities that are frequently included in the lists. These cities are California, Arizona, Juneau the capital of Alaska which ranked 6th, and Sioux Falls, South Dakota. While the New England Enclave ranked last in the list.

It is very important as a Hispanic entrepreneur to know the places where Hispanics thrive and where Hispanics appear to have a demographic dominance. By knowing this, it would be beneficial for the entrepreneur to grow and prosper his business. With the result of the study presented, it is assumed that years from now the Hispanics will be the major contributor of U.S. economy.

It is not a big surprise if by 2050 the Hispanics will be the leading minority group in America because just this year it is estimated that the contribution of Hispanics in U.S economy in $700 billion. So, if you are a Hispanic and planning to put up a business, read this article and start thinking what business you are going to put in these places this year.

Read more: The 2 U.S. Cities Where Hispanic Entrepreneurs Are Thriving the Most and The U.S. Cities Where Hispanics Are Doing The Best Economically