You are welcomed! breaking the mold – A blog series that dives into the unique business challenges and opportunities of underrepresented business owners and entrepreneurs. Learn how they grew or scaled their businesses, explored entrepreneurial ventures within their companies, or created side hustles, and how their stories can inspire and inform your own success.
Innovation and creativity are driving the new workforce, and many underrepresented professionals are making career pivots to monetize their talents through entrepreneurship. US Senate Committee on Small Business and Entrepreneurship Today reports more than four million minority-owned companies in the United States.
Despite these numbers, minority business owners still face systemic barriers to accessing capital, resources and support. These obstacles prove why it’s important to choose when starting or growing a business.
Read on to learn about some of the best cities to help underrepresented founders grow their businesses.
1. Houston, TX
Houston, Texas, is one of the top cities that provide ample economic opportunities for minority entrepreneurs. As one of the most diverse cities in the country, minorities make up 30.45% of the 5,600 startups in Houston’s metro area, according to jobsage,
Although people of color wear makeup 64% Of the region’s population, they still face inequality that persists in the rest of the country. As a result, officials, community members and organizations provide substantial support for minority entrepreneurs. For example, Houston Minority Supplier Development Council, Inc., Greater Houston Black Chamber, the Business Ecosystem Alliance for Minorities and WomenAnd Great Houston LGBTQ Chamber of Commerce There are some resources that business owners can use.
2. Atlanta, GA
Atlanta is a major center of development and culture in the South. Minorities own a diverse range of businesses, from tech startups to restaurants.
As the capital of Georgia, Atlanta is an ideal place to start a business. It provides many resources for people of color to access funding and networks. On top of that, the startup cost is low.
Atlanta in particular is a hot spot for black-owned businesses. loan tree Reports that Atlanta has the nation’s highest rate of black-owned businesses prove why it’s known as “Black Mecca.”
Entrepreneurs can take advantage of programs, initiatives and organizations such as:
3. Charlotte, NC
The “Queen City” made it on the list because studies have crowned it as a location that offers many opportunities for minority entrepreneurs.
Not only are minority-owned and diverse small companies on the rise in Charlotte, but so is the cost of living. 4% below the national average. Both serve as an advantage for startup companies.
Like Atlanta, Charlotte is a great place for black entrepreneurs. The city offers many opportunities for business owners to engage and attract customers. Founders can connect through organizations like Charlotte Business Inclusion And black business owner charlotte,
4. Washington, DC
The country’s capital is a physical representation of why the country is known as the “Melting Pot”. The city’s rich, diverse culture is home to several minority founders.
DC has a total of 4,599 minority startups. They bring in over $2.4 billion in annual sales in industries such as tech, hospitality and cyber security. jobsage,
Business owners have access to a wealth of resources for networking and venture capital investment. They can find support from organizations such as:
DC’s proximity to other states like New York, Maryland, and Virginia can give founders access to a wider network to help them grow.
5. San Antonio, TX
Houston isn’t the only place in the Lone Star State where minority entrepreneurs can scale up and be successful. San Antonio is a major metropolitan city in Texas that has proven to be a great location for companies. It has a diversified economy of advanced manufacturing, aerospace and information technology. Yet, the most active industry for minority entrepreneurs is retail.
san antonio raked over $1 billion in annual sales from minority-owned startups. That platform expects that number to grow as black and Hispanic people continue to go there.
organization like San Antonio MBDA Business CenterThe business empowerment programAnd this San Antonio Hispanic Chamber of Commerce There are some organizations that support minority entrepreneurs in the field.
6. Memphis, TN
Memphis is another Southern city known for its rich culture and talent. It has made great efforts to support the entrepreneurial endeavors of minority business owners over the years.
Memphis has attracted many founders because of its low cost of living. we are memphis Reports that the city’s cost of living is about 12% lower than the national average.
The area stands out because of the supportive environment of the community for entrepreneurs. Residents encourage creative people to make their dreams come true through the support of organizations and initiatives such as:
7. Fresno, CA
Fresno is a small city with a population of just over one million. Nevertheless, it has arisen over $678 million 754 in annual sales from minority-owned startups.
These sales stemmed from economic initiatives put in place by the city to invest in “inclusive economic development”. National League of Cities (NLC) Report. Besides, NLC Equitable Economic Mobility Initiative (EEMI) program has helped BIPOC businesses obtain grants and practical assistance.
other organizations, such as SCORE Central ValleyThe Asian Business Institute and Resource CenterAnd this Central California Hispanic Chamber of CommerceTo provide education, coaching and other opportunities for entrepreneurs in the region.
Embracing diversity is at the forefront of economic success. Minority entrepreneurs have some of the most creative business ideas making a positive impact on our country. These above cities are examples of why investing in their businesses is essential.