7 Top Tier US Cities For Young Black Entrepreneurs

In a February report, NerdWallet released data on the 111 best cities that support the greatest prosperity for minority business owners. The list contained cities — big and small — that produced either large numbers of businesses or had high revenue streams. The list below shows major cities with mostly African-American populations and their impressive business gains.

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Atlanta

Georgia has the third-largest consumer market, valued at more than $73 billion. The city of Atlanta also has decent and affordable housing that contributes to the migration to the city. According to NerdWallet, the average yearly revenue of many businesses is about $52,000-plus. Also, the thriving entertainment industry adds to the prosperity.

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Miami

According to the NerdWallet data, Miami is 16th out of 111 cities, but the city has some impressive numbers nonetheless. Per 100 people, there are 14 Black/minority-owned businesses. The unemployment rate is one of the lowest in the country at 5.5 percent.

9 Best US Cities for Black Tech Entrepreneurs to Thrive

As tech entrepreneurship thrives, it is increasingly important for Black people to be represented in this group of successful entrepreneurs. According to Bauce Magazine’s 7 Cities for Young Black Professionals and Black Enterprise’s 10 Best Cities to Start a Business, these are the best cities for Black tech entrepreneurs due to their social, cultural and professional opportunities.

Washington D.C.

Washington, D.C., is considered by many to be one of the best places for African-Americans to live. Ranking as one of the best-paying and millennial-friendly cities, D.C. is responsible for more Black internships than any other city in the U.S. Plus, Washington, D.C., is the place to be if you want to rub elbows with some of America’s most-influential people. Many of the city’s startups have ties to the federal government because the founders once worked for Uncle Sam, have a potential solution for a big government problem, or both, as reported by Entrepreneur.com.

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New York  

The Big Apple is arguably one of the country’s most-opportune cities. It’s a hub for virtually every industry. Fast-paced and ever-changing, New York City is perfect for those who love to constantly be on the move and in the mix of things. New York’s Silicon Alley has emerged as a heavy-hitting startup ecosystem, with a strong foundation of entrepreneurial and tech talent, venture capital, accelerator and incubation programs, marketing/public relations and ad agencies, nongovernmental organizations and government programs, according to Forbes. The city is also the global capital for diverse and female tech entrepreneurs.

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Los Angeles 

As the intersection of technology and entertainment emerge, tech entrepreneurs find great momentum through the networking and schmoozing of the Los Angeles scene. For example, Hollywood heavyweight Troy Carter, whose clients have included singers Lady Gaga and John Mayer, has recently launched his tech venture AF Square, a venture investment division investing in startups that “disrupt the status quo,” according to the AF Square website. L.A. startups are 58 percent more likely to have consumers as their primary paying customers versus business-to-business. Flourishing communities in L.A. are contributing to its appeal as a startup hub.