Valley suburbs rate higher than Phoenix for Hispanic entrepreneurs, but all rank low

Hispanics are creating businesses at 15 times the national rate, according to one report.

By Adam McCann | WalletHub

Expect the Hispanic and Latino community’s contributions to the U.S. economy to be nothing short of monumental in the coming decades. Not only is this demographic expected to make up a more than 25% of the U.S. population by 2050 — translating into large buying power — this group is also creating businesses at 15 times the national rate, according to one report.

The timing, therefore, could not be more appropriate for Hispanic entrepreneurs to make their business ideas a reality. But what places have the best conditions for a Hispanic-owned enterprise? To answer that question, WalletHub compared more than 180 U.S. cities across 24 key indicators of business friendliness toward Hispanic entrepreneurs. Our data set of 24 key metrics ranges from Hispanic entrepreneurship rate to median annual income of Hispanics to share of Hispanics with at least a bachelor’s degree. Read on for our findings, expert business insight from a panel of researchers and a full description of our methodology            

MAIN FINDINGS:

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