Report Reveals 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.

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