These Are The Top Cities Where Minority Businesses Thrive
Minority-led businesses are thriving in California, according to a recent report from Lending Tree. Four California cities (San Francisco, San Jose, Los Angeles, and Sacramento) made it to the top 10 list of cities for minority-owned businesses.
Washington, D.C., and Atlanta, which both have significant African American populations, were ranked third and ninth on the top 10 list, respectively.
The Midwest is one of the worst regions for minority-owned businesses. Some of the region’s top cities including Cleveland, St. Louis, Milwaukee, and Detroit made their way to the bottom of the list. St. Louis came in the last place for the list of 50 cities.
The report cites unregulated suburban development and discriminatory housing practices as factors for its dismal rates in long-term success for minority-owned businesses. Only 27.3 percent of these businesses last more than six years.
Here’s Lending Tree’s full list of cities where minority-led businesses are succeeding.