In light of National Small Business Week, WalletHub’s analysts checked the Hispanic business climate in the 150 largest U.S. cities to help aspiring entrepreneurs and established businesses find the most fertile ground for their enterprises. Their data set of 19 key metrics ranges from “Hispanic entrepreneurship rate” to “median annual income of Hispanics” to “percentage of Hispanics with at least a bachelor’s degree.”
12 Texas cities were among the top 30.
Continue reading below for their findings, expert business commentary and a full description of their methodology.
|Overall Rank||City||Total Score||‘Hispanic Business-Friendliness’ Rank||‘Hispanic Purchasing Power’ Rank|
|2||El Paso, TX||54.84||4||8|
|3||Corpus Christi, TX||53.93||9||5|
|4||Pembroke Pines, FL||52.87||5||16|
|5||Baton Rouge, LA||52.50||14||4|
|8||Sioux Falls, SD||50.45||13||17|
|10||Oklahoma City, OK||49.66||10||26|
|13||San Antonio, TX||48.84||23||12|
|18||Grand Prairie, TX||47.28||40||14|
|20||Overland Park, KS||46.79||35||19|
|21||New Orleans, LA||46.76||17||33|
|22||Fort Lauderdale, FL||45.95||6||106|
|27||Virginia Beach, VA||45.72||31||30|
In order to determine the best cities for Hispanic entrepreneurs, WalletHub’s analysts compared the 150 most populated U.S. cities across two key dimensions, namely “Hispanic Business-Friendliness” and “Hispanic Purchasing Power.” With regard to their sample, please note that “city” refers to city proper and excludes surrounding metro areas.
First, they identified 19 relevant metrics, which are listed below with their corresponding weights. Each metric was given a value between 0 and 100, wherein 100 represents the most favorable conditions for Hispanic businesses and 0 the least. Data for metrics marked with an asterisk (*) were available only at the state level.
Finally, they calculated the overall score for each city using the weighted average across all metrics and ranked the cities accordingly.
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