ST. LOUIS — St. Louis was ranked No. 1 among the best cities where minority-owned businesses are successful.
According to a study by JobSage, 25 percent of startups, or 2,279, in St. Louis are minority-owned with annual sales totaling, $193,558,000. St. Louis also has programs to help diverse business owners grow and succeed, including the St. Louis Diverse Business Accelerator.
To determine rankings, JobSage used data from the United States Census Bureau’s annual business survey. St. Louis is listed at No. 1, followed by Fresno, California, San Antonio, Texas, Orlando, Florida, Baltimore, Maryland, San Jose, California, Washington, D.C., Seattle, Washington, Houston, Texas, Dallas-Fort Worth, Texas, according to a press release.
Those 10 metro areas were among the highest-ranked in the percentage of startups that are minority-owned, the total number of minority-owned startups, annual sales at minority-owned startups, as well as support available to business owners of color in each city, including local chambers of commerce, funding opportunities, and startup accelerators.
“Approximately 18.7% of all businesses in the United States are minority-owned, despite ethnic and racial minorities making up over 40% of the population,” the press release states.
“For entrepreneurs of color who face systemic barriers like a lack of funding and a disproportionate impact during times of economic crisis, choosing the right location to start a business is important.”
For more information about JobSage and its full study, click here.