I was quoted as an expert in this study on black entrepreneurship. Below you can catch an overview of what the study revealed.
Study: 2015’s Best Places for Black Entrepreneurs to Find Success
New study released by GoodCall outlines which U.S. metros provide the best opportunity for success for black entrepreneurs. Southeastern cities, and regions with high African American academic achievement, dominate the top rankings.
A new report from GoodCall.com reveals which U.S. metro areas provide the best opportunity for success for African American-owned businesses, based on the firm’s analysis of official government data. A total of 378 metro areas were assessed based on economic health, educational attainment, networking opportunity and unemployment rates.
“African Americans make up 13% of the U.S. population yet only own 7% of the country’s businesses,” says Paul Southerland, Lead Analyst for GoodCall.com. “In addition, African American-owned businesses employ less than 1% of all total employment in the country and drive less than .5% of total revenue. We at GoodCall.com feel it is important to identify the regions that stand out against these statistics- those that are affording black entrepreneurs the best chance possible to succeed.”
Metro areas ranking highest in the report include:
1. Washington-Arlington-Alexandria, DC-VA-MD
2. Houston-The Woodlands-Sugar Land, TX
3. Dallas-Fort Worth-Arlington, TX
4. Baton Rouge, LA
5. Hood River, OR
6. Austin-Round Rock, TX
7. Manhattan, KS , TX
8. Oklahoma City, OK
9. Durham-Chapel Hill, NC
10. New York-Newark-Jersey City, NY-NJ-PA
Just over 40% of the top 100 metro areas are located in the Southeast while only 10% of the top 100 metros are located in the Northeast. Southeastern cities ranked highly for having a greater number of black business owners per capita therefore affording better networking abilities for black entrepreneurs.
The second most represented region in the report was the Southwest, comprising 19% of the top 100 metros. These cities have seen considerable population growth over the past decade and their economies have grown in kind. The Southwestern metro areas ranking in the GoodCall report had economic growth 66% greater than the national average.
The lowest ranking areas in the report rank poorly for all metrics but most notably for the disparity in educational attainment for African Americans. According to the U.S. Census Bureau, on average, 16% of black residents have earned a bachelor’s degree or higher in the cities assessed for this report. Cities ranking the highest, and lowest, deviated greatly from that average:
For the full report and to see where your area ranks, please visit: http://www.goodcall.com/data-center/2015s-best-cities-for-blackentrepreneurs/
About GoodCall: The GoodCall research team uses data science to create aggregated reports that help consumers make decisions about their careers, college choices and more. GoodCall was born from the idea that in an increasingly complex online marketplace, consumers deserve access to the information they need to make educated financial decision.
[I wasn’t paid for this post, however, I was featured in the original article and asked to share. So I’m sharing.]