Which Are The Best Cities For Black Businesses?

Which Are The Best Cities For Black Businesses?
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AFRICANGLOBE – If you’re an African-American entrepreneur looking to locate a new business in the most profitable location possible, NerdWallet crunched the economic data for you. General tip? Georgia is pretty hot.

Geography can certainly play a role in how well a business fares, and consumer advocacy NerdWallet has once again criss-crossed economic and demographic data with zip codes nationwide to generate a best areas for business list—this time focusing in on Black business owners in particular.

In examining 109 of the largest U.S. metropolitan areas, San Francisco-based Nerd Wallet honed in on Black-owned businesses that, according to its data, number 2.1 million in the United States and generate more than $138 billion in annual revenues collectively.

The results are based on factors including: the strength of the economic environment, including cost of living; median income for Blacks in that region; numbers of businesses per capita in general; and unemployment rate. It also looked at the percentages and success of the existing Black-owned businesses in each location.

Here’s the list of best places for Black-owned businesses:

1. Columbus, Ga., metro area

2. Montgomery, Ala., metro area

3. Atlanta-Sandy Springs-Marietta, Ga.

4. Memphis, Tenn., metro area

5. Washington-Arlington-Alexandria, Virginia, metro area

6. Fayetteville, North Carolina, metro area

7. Durham, N.C., metro area

8. Jackson, Miss., metro area

9. Savannah, Ga., metro area

10. Baltimore, metro area

 

By: Teresa Novellino