The San Diego-Carlsbad area ranks among the top 100 places for Hispanic entrepreneurs, according to a report by a careers and personal finance website.
GoodCall.com recently released its “2016 Best Places for Hispanic Entrepreneurs” report, which puts San Diego-Carlsbad at No. 28 among the top 100 places in the U.S. for Hispanic business owners.
According to the report, Hispanic entrepreneurs succeed in the region because “the area holds strong educational values for Hispanics, substantial networking potential, a thriving post-recession economy, a high density of Hispanic business owners, and access to affordable housing.”
The website’s survey says 17.18 percent of San Diego’s population is Hispanic, and Hispanic business representation in the San Diego-Carlsbad area is currently at 4.21 percent.
The website says the survey is based on data taken from the U.S. Census Bureau and the Bureau of Economic Analysis. Rankings were determined by looking at a metropolitan area’s business climate (35 percent of the methodology) – areas with a high density of Hispanic-owned businesses – and economic health (25 percent of the methodology), including Gross Domestic Product per capita, real GPD growth, rate of Hispanic unemployment and rate of total unemployment.
Another 20 percent of the report’s methodology was analyzing network potential, including small businesses in the area, which tend to fuel more networking opportunities for Hispanic business owners.
Meanwhile, 10 percent of the study focused on educational values and attainment for Hispanics. Another 10 percent looked at affordability, including the median gross rent in each area as a percentage of household income, because the more affordable it is for a Hispanic entrepreneur to live and run a business in an area, the better are their chances for success.
According to the report, the top 10 places in the country for Hispanic business owners are, in order: Midland, Texas; Washington-Arlington-Alexandria, D.C.-Virgina; Odessa, Texas (tied for No. 3); Houston-The Woodlands-Sugar Land, Texas (tied for No. 3); Austin-Round Rock, Texas; Dallas-Fort Worth-Arlington, Texas; Anchorage, Alaska; Casper, Wyoming; Miami-Fort Lauderdale-West Palm Beach, Florida; New York-Newark-Jersey City, New York and New Jersey; New Orleans-Metairie, Louisiana.