The Top 10 Best Cities for Hispanic Entrepreneurs

It’s a great time to be a Hispanic entrepreneur right now, with nearly one in four new businesses in the U.S. Hispanic-owned. As National Hispanic Heritage Month kicks off from September 15 – October 15, Wallethub’s compiled the top places in the U.S. to be a Hispanic entrepreneur.

“Hispanic entrepreneurs are starting businesses at a faster rate than any other demographic group in the U.S., which is a testament to their entrepreneurial spirit and resilience,” says Marlene Orozco, Ph.D., CEO of Stratified Insights and Research Fellow at Texas State University.

All the while, Hispanic entrepreneurs often face barriers related to access when it comes to capital, networks, and resources, says Bert Seither, faculty member at the University of Tampa’s Sykes College of Business. Many also operate within underserved communities where mentorship opportunities and institutional support are limited, he says.

Where should Hispanic entrepreneurs live to increase their chances of entrepreneurial success? WalletHub compared 180+ metros across 23 indicators, from income growth to business ownership rates. They placed these into two key categories: Hispanic Business-Friendliness (60 points), which focuses on entrepreneurship rates, revenue growth, and startup conditions, and Hispanic Purchasing Power (40 points), which measures affordability, income, and job security.

There is a ton of opportunity for growth for Hispanic entrepreneurs that are looking to live in Florida. A majority (7/10) of the top ten best cities for Hispanic entrepreneurs were in Florida, including Orlando in No. 1, Pembroke Pines in No. 2, and Fort Lauderdale, Florida in No. 3.

Of the top ten, the city who placed first in the Hispanic business friendliness category was Miami, and the city with the greatest Hispanic purchasing power was Dover, Delaware.

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