Amarillo Lands in the Top 15 Best Cities for Hispanic Entrepreneurs
Amarillo is a great city for opportunity and growth and being a business owner is something most people want to strive for in their careers.
According to the US Small Business Administration, one in four new businesses in the US is owned by a Hispanic. Out of the 5 million Hispanic-owned businesses in the US, they contribute over $800 billion to the American economy each year.
WalletHub conducted a study to find out the best cities in the country for Hispanic Entrepreneurs. They looked at a selection of cities in the United States and looked at 24 key indicators including Hispanic entrepreneurship rate to Hispanic income growth to the share of Hispanic-owned businesses.
Amarillo landed on the list at #15
Amarillo is a perfect place to start a business because of the great people, and the Amarillo people love to support their local businesses.
Here are some of the data from the study:
Hispanic Business Climate in Amarillo (1=Best, 91=Avg.):
- 50th – Share of Hispanic Residents
- 1st – Hispanic Unemployment Rate
- 83rd – Hispanic Population Growth
- 40th – Hispanic Renter-to-Owner Ratio
- 52nd – Median Annual Income of Hispanics (Adjusted for Cost of Living)
- 26th – Housing Affordability for Hispanics
According to the recent US Census data, Hispanics or Latinos make up 34% of the population in Amarillo and currently makeup 40% of the population in Texas. Hispanics are expected to make up 28% of the US population by 2060. With this data, it makes perfect sense that Amarillo is perfect for Hispanic Entrepreneurs. Our city is already full of amazing Hispanic business owners.