Report Finds Texas is the Best Place for Latino Business

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For many Latinos a lack of access to opportunities keep them from achieving health equity and obtaining financial security. However, a recent study from the financial website WalletHub paints a very positive picture of where things could be heading.

Latinos are already the largest ethnic and racial minority in the country and their numbers are growing at consistent and exponential rates. They are already sizable contributors to the nation’s economy and with their increasing numbers, they were already expected to add more to in the coming years. However, WalletHub anticipates these numbers to be “nothing short of monumental.”

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As a whole, Latinos are creating businesses at 15 times the national rate, according to WalletHub’s findings. Analyzing key indicators of the 150 largest cities in the U.S., the site determined that Laredo, Texas (95.6% Latino population) was the best city in the country for Latino entrepreneurs. Of the key indicators, Laredo ranked second overall in Latino population and Hispanic-owned businesses.

Texas overall fared exceptionally well in the study. In addition to Laredo, El Paso (79.8% Latino population), Corpus Christi (61.27%), Brownsville (93.55%), and Amarillo (30.7%) all made it in the top 10 best cities for Latino business entrepreneurs.

Included among the 21 key metrics ranges used in the study were the median annual income of Latinos and the number of Latinos to share of Hispanics with at least a bachelor’s degree.

Read the full findings from the study here.

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