WalletHub the popular social network carried out a study based on 19 key metrics such as Hispanic entrepreneurship rates, corporate tax systems and the share of businesses owned by Hispanics, among others. Through all of them, the experts were able to evaluate the business climate in some cities of the United States.
According to the results, Florida is the best place for entrepreneurs. It is an excellent option for Hispanics who long to start business successfully in the United States.
One of the reasons why Florida is the ideal place for Hispanic entrepreneurs is the great number of inhabitants (3.000.000) who belong to this ethnic group.
Specifically Pembroke Pines, in the sunshine state, is considered an ideal destination for Hispanic entrepreneurs. It is also the ninth municipality where Hispanics have the highest purchase power.
The study, led by WalletHub, was based on a census conducted in 2010 in which the biggest 150 cities of the country were analyzed.
It is important to highlight that the Latin American population starts business two times more than the rest of the Americans. This ethnic group’s impact can be seen in the economic contributions that they make. It is estimated that their revenue is $460.000 according to the U.S. Hispanic Chamber of Commerce and Geoscape.
Here is the list of the best and the worst cities for Hispanic entrepreneurs:
The 10 best cities to start business:
- Chandler, Arizona
- Baton Rouge, Louisiana
- St. Petersburg, Florida
- El Paso, Texas
- Jacksonville, Florida
- Rancho Cucamonga, California
- Gilbert, Arizona
- Laredo, Texas
- Corpus Christi, Texas
- Pembroke Pines, Florida
The 10 worst cities for Hispanic entrepreneurs:
- Minneapolis, Minnesota
- Winston-Salem, North Carolina
- Detroit, Michigan
- Jersey City, New Jersey
- Milwaukee, Wisconsin
- Cleveland, Ohio
- Newark, New Jersey
- Philadelphia, Pennsylvania
- Worcester, Massachusetts
- Providence, Rhode Island
