DALLAS (KDAF) – February is Black History Month and according to SmartAsset, Black Americans make up the third largest racial/ethnic group in the country. However, less than 3% of all businesses are Black-owned.
So if you’re looking to start a new business, you may need to know which places in America are best for black entrepreneurs.
SmartAsset conducted a study To find the best metros for Black entrepreneurs in 2023, “We looked at 39 of the largest metro areas across three categories and a total of nine metrics on topics including prevalence of Black-owned businesses, new business success and income and job security. .”
Not only did four Texas metros make the list, but Austin-Round Rock-Georgetown came in first place, followed by Houston (12), San Antonio (19) and Killeen (34).
The study reveals: “Texas’ fourth-largest metro area saw an 88.27% increase in the number of Black-owned businesses between 2018 and 2020 (the second highest for this metric).
“In this rapidly growing environment, more than a third of total businesses are less than three years old in the Austin metro area (ranking #1 for this metric). Additionally, the region fares well in terms of job security for Black Americans, offering the lowest black unemployment rate in the entire study (6.6%).
SmartAsset also found that Toledo had the highest percentage change between 2018 and 2020, followed closely by Austin with an 88.27% change.
