After comparing 182 U.S. cities across 23 key metrics, WalletHub has released its 2018 Best Cities for Hispanic Entrepreneurs report.
WalletHub created the list by looking at cities that were business friendly to Hispanics. But the report also looked at the purchasing power of the Hispanic populations in those cities.
The vast majority of more than 4.37 million Hispanic-owned companies in the U.S. are classified as small businesses. And when these entrepreneurs establish or expand their businesses, the information can be combined with additional data to help other entrepreneurs decide where to locate their businesses.
This report highlights the contribution the Hispanic business community makes to the US economy, which, according to the US Hispanic Chamber of Commerce, amounts to $700 billion annually. This demographic is also doing much better when it comes to employment. The Bureau of Labor Statistics (BLS) says 76 percent of Hispanic males are employed, higher than white or black men in the US.
Source: WalletHub
The report compared 182 cities, which also made up the 150 most populated in the U.S., — and at least two of the most populated cities in each state. Twenty-three relevant metrics were used to evaluate “Hispanic Business-Friendliness” and “Hispanic Purchasing Power.”
The metrics were then graded on a 100-point scale, with higher being better. Some of the metrics were: Share of Hispanic-Owned Businesses; Hispanic Entrepreneurship Rate; Presence of Hispanic Chamber of Commerce; Small Business-Friendliness Score; Affordability; Income Growth for Hispanics; Hispanic Unemployment Rate; Hispanic Housing Tenure; and City Growth.
Top Five Cities
Laredo, TX
The top city was Laredo, Texas with an overall score of 61.72. It achieved the top spot by being no. 1 in the Hispanic Business-Friendliness rank and no. 10 in the Hispanic Purchasing Power rank. It came in at no. 2 for the highest percentage of Hispanic residents.
South Burlington, VT
The number two spot went to South Burlington, Vermont with an overall score of 61.10. It ranked 10 on the friendliness scale and no. 1 in purchasing power.
Charleston, WV
Rounding out the top 3 was Charleston, West Virginia with the overall score of 57.40, and at number 32 and number 3 for the friendliness and purchasing rank respectively. Charleston also had the highest Hispanic entrepreneur rate.
Corpus Christi, TX
With an overall score of 57.29, Corpus Christi, Texas is the fourth city in Texas to make the top 10. It ranked no. 7 in business-friendliness and 12 on the purchasing power rank.
Oklahoma City, OK
An overall score of 55.56 gave Oklahoma City, Oklahoma the no. 5 spot. The city also ranked no. 6 and no. 38 for business-friendliness and purchasing power respectively.
Pembroke Pines, Florida; Amarillo, Texas; San Antonio, Texas; Bismarck, North Dakota; and Casper, Wyoming rounded out the top 10.
You can look at some of the other data points in the WalletHub report below along with the entire list.
Best Cities for Hispanic Entrepreneurs in 2018
Overall Rank (1=Best) | City | Total Score | ‘Hispanic Business-Friendliness’ Rank | ‘Hispanic Purchasing Power’ Rank |
1 | Laredo, TX | 61.72 | 1 | 10 |
2 | South Burlington, VT | 61.10 | 10 | 1 |
3 | Charleston, WV | 57.40 | 32 | 3 |
4 | Corpus Christi, TX | 57.29 | 7 | 12 |
5 | Oklahoma City, OK | 55.56 | 6 | 38 |
6 | Pembroke Pines, FL | 54.93 | 13 | 16 |
7 | Amarillo, TX | 54.70 | 9 | 26 |
8 | San Antonio, TX | 54.59 | 12 | 18 |
9 | Bismarck, ND | 54.52 | 87 | 2 |
10 | Casper, WY | 53.92 | 14 | 22 |
11 | Miami, FL | 53.68 | 2 | 101 |
12 | Tulsa, OK | 53.59 | 5 | 79 |
13 | Grand Prairie, TX | 53.10 | 40 | 6 |
14 | Sioux Falls, SD | 52.98 | 15 | 31 |
15 | Cheyenne, WY | 52.89 | 8 | 56 |
16 | Tampa, FL | 52.84 | 3 | 110 |
17 | Irving, TX | 52.78 | 30 | 11 |
18 | Fort Worth, TX | 52.53 | 27 | 19 |
19 | El Paso, TX | 52.25 | 18 | 39 |
20 | Austin, TX | 52.19 | 33 | 17 |
21 | Orlando, FL | 52.19 | 11 | 51 |
22 | Hialeah, FL | 52.01 | 4 | 120 |
23 | Juneau, AK | 51.91 | 61 | 9 |
24 | Overland Park, KS | 51.77 | 59 | 7 |
25 | Plano, TX | 51.71 | 46 | 14 |
26 | Huntington, WV | 51.65 | 77 | 8 |
27 | Gilbert, AZ | 51.58 | 106 | 4 |
28 | West Valley City, UT | 51.54 | 25 | 35 |
29 | Houston, TX | 51.23 | 19 | 49 |
30 | Boise, ID | 51.21 | 34 | 21 |
31 | Dallas, TX | 50.89 | 22 | 48 |
32 | Denver, CO | 50.64 | 23 | 52 |
33 | Lewiston, ME | 50.40 | 91 | 5 |
34 | Scottsdale, AZ | 50.22 | 43 | 30 |
35 | Rapid City, SD | 50.19 | 35 | 37 |
36 | Irvine, CA | 50.15 | 56 | 20 |
37 | Brownsville, TX | 50.13 | 17 | 75 |
38 | Springfield, MO | 50.00 | 21 | 66 |
39 | St. Petersburg, FL | 49.84 | 65 | 13 |
40 | Columbia, MD | 49.70 | 68 | 15 |
41 | Fort Lauderdale, FL | 49.45 | 16 | 89 |
42 | Jacksonville, FL | 49.37 | 42 | 43 |
43 | Salt Lake City, UT | 48.99 | 20 | 88 |
44 | Cape Coral, FL | 48.62 | 51 | 45 |
45 | Peoria, AZ | 48.36 | 74 | 24 |
46 | Arlington, TX | 48.35 | 29 | 81 |
47 | Henderson, NV | 48.19 | 60 | 36 |
48 | Chesapeake, VA | 48.16 | 66 | 29 |
49 | Atlanta, GA | 48.12 | 28 | 87 |
50 | Aurora, CO | 48.08 | 54 | 46 |
51 | Portland, ME | 47.77 | 52 | 54 |
52 | Mesa, AZ | 47.75 | 41 | 72 |
53 | Lubbock, TX | 47.70 | 53 | 50 |
54 | Nashville, TN | 47.47 | 73 | 33 |
55 | Billings, MT | 47.31 | 26 | 105 |
56 | Raleigh, NC | 47.15 | 100 | 23 |
57 | Tempe, AZ | 47.12 | 93 | 27 |
58 | Colorado Springs, CO | 46.91 | 55 | 61 |
59 | Fargo, ND | 46.66 | 62 | 58 |
60 | Port St. Lucie, FL | 46.63 | 36 | 97 |
61 | New Orleans, LA | 46.29 | 38 | 106 |
62 | Nampa, ID | 46.16 | 85 | 44 |
63 | Garland, TX | 46.15 | 72 | 55 |
64 | Chandler, AZ | 46.08 | 95 | 40 |
65 | Santa Ana, CA | 45.99 | 49 | 95 |
66 | Durham, NC | 45.79 | 116 | 32 |
67 | Fremont, CA | 45.76 | 123 | 34 |
68 | Kansas City, MO | 45.68 | 64 | 73 |
69 | St. Louis, MO | 45.65 | 48 | 108 |
70 | Gulfport, MS | 45.56 | 45 | 111 |
71 | Albuquerque, NM | 45.33 | 57 | 92 |
72 | Baton Rouge, LA | 45.29 | 39 | 121 |
73 | Anchorage, AK | 45.09 | 99 | 53 |
74 | Ontario, CA | 44.91 | 80 | 71 |
75 | Bakersfield, CA | 44.66 | 63 | 94 |
76 | Phoenix, AZ | 44.59 | 92 | 63 |
77 | Virginia Beach, VA | 44.58 | 71 | 85 |
78 | Lincoln, NE | 44.57 | 89 | 68 |
79 | Shreveport, LA | 44.44 | 44 | 134 |
80 | Burlington, VT | 44.16 | 50 | 122 |
81 | Las Vegas, NV | 44.11 | 70 | 98 |
82 | Las Cruces, NM | 43.86 | 47 | 137 |
83 | Columbus, OH | 43.61 | 128 | 57 |
84 | Charlotte, NC | 43.60 | 103 | 78 |
85 | Chattanooga, TN | 43.57 | 112 | 74 |
86 | Fort Wayne, IN | 43.51 | 126 | 64 |
87 | Cincinnati, OH | 43.49 | 117 | 69 |
88 | Washington, DC | 43.31 | 151 | 41 |
89 | Cedar Rapids, IA | 43.24 | 118 | 77 |
90 | Charleston, SC | 43.18 | 110 | 83 |
91 | Wichita, KS | 43.01 | 83 | 107 |
92 | Fontana, CA | 42.94 | 152 | 42 |
93 | Huntington Beach, CA | 42.94 | 96 | 96 |
94 | Riverside, CA | 42.91 | 81 | 109 |
95 | Santa Clarita, CA | 42.78 | 94 | 102 |
96 | Portland, OR | 42.71 | 82 | 112 |
97 | Glendale, AZ | 42.66 | 121 | 84 |
98 | Pittsburgh, PA | 42.66 | 170 | 25 |
99 | Reno, NV | 42.66 | 107 | 93 |
100 | Oxnard, CA | 42.47 | 125 | 86 |
101 | Greensboro, NC | 42.47 | 114 | 90 |
102 | Lexington-Fayette, KY | 42.41 | 136 | 76 |
103 | Omaha, NE | 42.40 | 104 | 103 |
104 | Aurora, IL | 42.32 | 115 | 91 |
105 | Anaheim, CA | 42.08 | 58 | 146 |
106 | Fort Smith, AR | 41.99 | 142 | 65 |
107 | Tucson, AZ | 41.98 | 37 | 160 |
108 | Little Rock, AR | 41.93 | 122 | 100 |
109 | Rancho Cucamonga, CA | 41.83 | 144 | 67 |
110 | San Francisco, CA | 41.80 | 79 | 132 |
111 | Moreno Valley, CA | 41.59 | 142 | 80 |
112 | Indianapolis, IN | 41.56 | 130 | 99 |
113 | North Las Vegas, NV | 41.53 | 163 | 47 |
114 | Warwick, RI | 41.41 | 175 | 28 |
115 | Mobile, AL | 41.38 | 84 | 133 |
116 | Seattle, WA | 41.13 | 155 | 62 |
117 | Richmond, VA | 40.96 | 124 | 114 |
118 | Baltimore, MD | 40.94 | 148 | 82 |
119 | Knoxville, TN | 40.87 | 139 | 104 |
120 | Tallahassee, FL | 40.77 | 101 | 135 |
121 | Honolulu, HI | 40.74 | 105 | 130 |
122 | Grand Rapids, MI | 40.56 | 67 | 150 |
123 | Birmingham, AL | 40.54 | 75 | 149 |
124 | Nashua, NH | 40.49 | 157 | 70 |
125 | Huntsville, AL | 40.36 | 88 | 144 |
126 | Oceanside, CA | 40.30 | 119 | 129 |
127 | Des Moines, IA | 40.30 | 167 | 59 |
128 | San Jose, CA | 40.23 | 131 | 119 |
129 | Jackson, MS | 40.19 | 24 | 175 |
130 | Louisville, KY | 40.14 | 129 | 124 |
131 | Newport News, VA | 39.90 | 113 | 139 |
132 | Chula Vista, CA | 39.87 | 108 | 143 |
133 | San Diego, CA | 39.69 | 86 | 155 |
134 | Santa Rosa, CA | 39.59 | 137 | 128 |
135 | Missoula, MT | 39.51 | 31 | 172 |
136 | Norfolk, VA | 39.47 | 120 | 141 |
137 | Fayetteville, NC | 39.46 | 97 | 148 |
138 | Chicago, IL | 38.90 | 111 | 153 |
139 | Columbus, GA | 38.90 | 133 | 140 |
140 | Toledo, OH | 38.80 | 78 | 163 |
141 | Columbia, SC | 38.76 | 146 | 127 |
142 | Los Angeles, CA | 38.74 | 76 | 164 |
143 | Madison, WI | 38.66 | 90 | 158 |
144 | Sacramento, CA | 38.57 | 138 | 142 |
145 | Pearl City, HI | 38.56 | 127 | 147 |
146 | Memphis, TN | 38.45 | 153 | 118 |
147 | Dover, DE | 38.17 | 177 | 60 |
148 | Stockton, CA | 37.76 | 135 | 154 |
149 | San Bernardino, CA | 37.75 | 149 | 138 |
150 | Long Beach, CA | 37.63 | 102 | 165 |
151 | Fresno, CA | 37.43 | 134 | 157 |
152 | Modesto, CA | 37.39 | 160 | 123 |
153 | Tacoma, WA | 37.29 | 162 | 125 |
154 | Minneapolis, MN | 37.19 | 171 | 113 |
155 | Winston-Salem, NC | 37.14 | 109 | 166 |
156 | Montgomery, AL | 36.91 | 141 | 156 |
157 | Yonkers, NY | 36.57 | 150 | 152 |
158 | Garden Grove, CA | 36.45 | 166 | 136 |
159 | Salem, OR | 36.39 | 173 | 116 |
160 | Spokane, WA | 36.28 | 174 | 117 |
161 | Oakland, CA | 36.21 | 169 | 131 |
162 | Manchester, NH | 36.07 | 132 | 168 |
163 | Milwaukee, WI | 35.62 | 165 | 145 |
164 | Akron, OH | 35.60 | 176 | 126 |
165 | Augusta, GA | 35.45 | 147 | 159 |
166 | New York, NY | 35.38 | 69 | 182 |
167 | Glendale, CA | 35.20 | 164 | 151 |
168 | Boston, MA | 34.75 | 98 | 179 |
169 | St. Paul, MN | 34.72 | 154 | 162 |
170 | Vancouver, WA | 34.64 | 179 | 115 |
171 | Philadelphia, PA | 33.68 | 161 | 167 |
172 | Detroit, MI | 32.91 | 158 | 170 |
173 | Jersey City, NJ | 32.89 | 172 | 161 |
174 | Rochester, NY | 32.82 | 140 | 176 |
175 | Worcester, MA | 32.40 | 145 | 177 |
176 | Newark, NJ | 30.60 | 156 | 181 |
177 | Buffalo, NY | 30.56 | 168 | 174 |
178 | Wilmington, DE | 30.25 | 159 | 180 |
179 | Cleveland, OH | 30.18 | 178 | 169 |
180 | Bridgeport, CT | 28.61 | 180 | 171 |
181 | Providence, RI | 27.32 | 182 | 173 |
182 | New Haven, CT | 27.19 | 181 | 178 |
This article, “Report Reveals the Best Cities for Hispanic Entrepreneurs in 2018” was first published on Small Business Trends