Picking the wrong place to start your business will hurt it before it starts. The site must have certain advantages to develop the business. That is why Hispanic Entrepreneurs makes you know the best cities in the USA for entrepreneurs.
Hispanic Entrepreneurship Growth
According to a study conducted by WalletHub, significant growth in Hispanic entrepreneurship is projected for the next few decades. This increase is based on the fact that this community will represent 25% of the population of the United States.
The US Census Bureau determined that there are currently about 60 million Hispanics and they own more than 4.4 million businesses. So its contribution to the economy is about $ 700 billion.
They estimate that by 2050 the Latino and Hispanic population will have greater purchasing power. This is because it is creating businesses that represent 15 times the rate of the country.
Best cities in the USA for entrepreneurs
Conditions for Hispanic-owned businesses will continue to improve over time, but what are the best cities for them to start a business The entrepreneurs?
1-Laredo (Texas)
This thriving city located on the border with Mexico has an economy dependent on Latino and Hispanic businesses. As well as the commerce of the neighboring country. It is the second city with the most Hispanic residents, so you dominate the market and you have all the ingredients for success.
It is also one of the cities that recovers the fastest from the impact of covid-19. It has a pleasant climate, four sports teams and an international university. These factors attract a large number of tourists annually.
2-San Francisco (California)
As the hub of Silicon Valley activities it is very attractive to Hispanic startups. It has the advantage of having an initiative called LatinSf available that gives them contacts and free advisory services to Hispanic businesses.
Likewise, Google has its Developers Launchpad Space in the city that works with digital entrepreneurs from emerging countries.
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3-Houston (Texas)
As the largest city in the state and the most populated, it is suitable to undertake. It has the second largest port in the world and strong resources for small business owners.
SMEs easily find connections with investors because financing Venture capital has increased in recent years. In addition to this, the cost of living is 3.5% lower than the average for the country. Being a smart financial option for new investors.
4-Miami, Florida
In addition to Miami, Pembroke Pines, which is located 20 miles north, was highlighted in the WalletHub study. For a long time Miami is considered the Latin capital of the worldl, offering the best of both worlds.
Giants like Facebook, Appe, Twitter and Google have offices in this city, which shows that it has a strong economy. Another plus point is that there are no state taxes and housing is cheaper. And last but not least, there are a host of venture capitalists and angel investors looking for the next disruptive idea.
It is also the mecca of tourism, it receives hundreds of thousands of visitors who are willing to spend a lot of money. Also, its population guarantees a large number of potential customers. It has global connectivity because many of the businesses operate internationally. Local resources, avant-garde in business innovation and tropical lifestyle.
Its location and international airports make it a key exporter of US products. Many of which are made by small and medium-sized companies.
While, Pembroke Pines is one of the largest cities in Broward County that boasts job centers, entertainment venues. Apart from parks, restaurants, shops, beaches, international airports and ports. Elements that promote entrepreneurship.
5-Austin (Texas)
It is attractive for its low cost of living being in one of the states with the lowest taxes. It does not collect tax on state income, or on corporate income. So businesses can keep most of the money they make.
It is rapidly growing, there are several entertainment centers, beaches and you can even cross the border to New Mexico. They consider it as one of the most friendly cities with small businesses and their average age is 35 years.
According to US News and World Report it was the third best city to live in 2020-2021. It is constantly visited for its live music, culture, and outdoor activities. Apart from everything, the local government gives resources and grants to entrepreneurs.
6-Boulder (Colorado)
It went from being a university town to a business development town. It combines new businesses with those already established and venture capital, which offers sustainable growth.
It is important that more than half of the population has a bachelor's degree putting education and innovation first. It also became a favorite place for recent graduates. It offers public and private business connections through different organizations to support the development of new businesses.
7-Los Angeles (California)
Known as Silicon Beach, it supports a tight-knit startup community. Companies can choose a skilled workforce because it has the largest number of engineers in the country. Likewise, its diversity is perfect for starting a business.
Remember that California shares the busiest border with Mexico, Tijuana which favors Latin entrepreneurship.
8- Corpus Christi (Texas)
In Texas, more than 99% of businesses are classified as small businesses, making Corpus Christi another favorable city for entrepreneurship. It is very popular with tourists and is one of the largest commercial ports in the USA.. This together with the road network, the rail and air service make it possible to transfer the products to the main markets of the country.
Ships thousands of products from the Gulf of Mexico. In 2019, it improved the shipping channel to become the main oil exporter in the country. Startups can take advantage of talent that is reinforced by the presence of Del Mar College and Texas A&M University-Corpus Christi,
Already that year it was listed as the third ideal city for Latino entrepreneurs. Additionally, the Small Business Development Center helps entrepreneurs get their business up and running. It remains a center in the South Texas economy.
9-Charlotte (North Carolina)
It is the favorite of young entrepreneurs, since the cost of doing business is 12% lower than the national average. It has a large millennial population and an advanced business climate.
Every day more corporations settle in the city and the plan to run an Amazon distribution center is underway. It must be taken into account that it is the most populated city in the state. Factor that has made it an important financial and energy center of the United States.
It houses the headquarters of major banks such as Wachovia and Bank of America, and the electrical company Duke Energy. In terms of tourism, it has grown due to the presence of the Charlotte Hornets (NBA) and Carolina Panthers (NFL) teams.
It also makes available to entrepreneurs various resources such as advice, mentoring, tools, connections and financing.
10-San Antonio (Texas)
It was ranked third in new business applications in April 2021. With a population of 2,5 million it has great potential to find clients. The cost of living is 10.3% lower than the national average, making it conducive to living and developing a business.
The city has programs such as Launch SA and the city's Economic Development Incentive Fund (EDIF). Through these provides guidance and guidance to find grants and credits for small businesses.
11- Clarksville (Tennessee)
Having an active business community in which small, medium and large companies are involved, it is great to undertake. The city where the Hispanic Entrepreneurs base of operations is located also has many franchises.
Its large center of commerce driven by the presence of Austin Peay State University and the proximity of Nashville is conducive to starting a business. The "best place to live" in the United States has experienced significant population growth that will continue for years to come. This caused its economy to diversify and progress on all economic fronts.
So much so houses a Google data center and an LG Electronics plant opening more business opportunities. It should be noted that retail trade increased in areas where it did not have a presence. Another positive factor is tourism, this line is an important industry throughout Tennessee.
It also has organizations like the Clarksville Entrepreneur Center that connect veteran and minority entrepreneurs with mentors. They offer affordable work spaces and various educational resources to entrepreneurs.
In 2020 Investment U named it the best place to retire in Tennessee, making it a perfect place to put down roots.
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