Report Reveals the Best Cities for Hispanic Entrepreneurs in 2018

Report Reveals the Best Cities for Hispanic Entrepreneurs in 2018

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What are the Best Cities for Hispanic Entrepreneurs in 2018?

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.

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.

What are the Best Cities for Hispanic Entrepreneurs in 2018?

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
[“Source-smallbiztrends”]