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These cities have the most minority-owned startups in the US: report
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Brunswick Group partner Robert Moran discusses the global economic impact on U.S. sales and potential a slump for startups.
If you want a job at a minority-owned startup, it might be time to head to California, according to a recent report.
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Last Monday, software company Volusion published a report that found which cities in the U.S. have the most minority-owned startups in the country and the top three metropolitan areas were all in The Golden State — as well as the fifth-place city.
The report also found that more than 40 percent of minority-owned startups are within the accommodation and food industry.
In descending order, the following industries included retail trade, health and social assistance, transportation and warehouse services, and wholesale trade.
All of those industries were above the national average (a bit below 30 percent) for share of startups that are minority-owned, according to the report.
For its findings, Volusion used data from the U.S. Census Bureau’s Annual Survey of Entrepreneurs (ASE), which looked at companies in the 50 largest metropolitan statistical areas.
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Companies included in the survey were determined to be startups only if they were operating for less than two years.
To be considered owned by a minority, the companies had to have more than “51 percent ownership by individuals reporting their race/ethnicity status as anything besides non-Hispanic white."
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To see the results, here are the top 10 cities with the most minority-owned startups, according to Volusion.
10. Atlanta-Sandy Springs-Roswell, Ga.