Economic Development, Human Resources, and Small Business & Startups

Grand Rapids ranks No. 113 for Hispanic entrepreneurs

April 27, 2016
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Grand Rapids ranks in the bottom quarter for Hispanic entrepreneurs when compared to the 150 most-populated cities in the country.

Grand Rapids ranks 113th in the 2016 ranking of “Best Cities for Hispanic Entrepreneurs” by WalletHub, a personal finance website.

Methodology

The cities were ranked by 19 metrics, such as Hispanic entrepreneurship rate, Hispanic income growth, share of Hispanic-owned businesses, Hispanic unemployment rate, percentage of Hispanics with at least a bachelor’s degree and five-year business survival rates.

Each of the 19 metrics was given a value between 0 and 100 and weighted within two categories: Hispanic business friendliness and Hispanic purchasing power.

Scores

Grand Rapids recorded an overall score of 35.01, ranking 106th in Hispanic business friendliness and 105th in Hispanic purchasing power.

The top-ranking city, Laredo, Texas, scored a 65.18 and ranks first in both categories.

Detroit, the other Michigan city in the ranking, ranks 121st.

Top 10

1.   Laredo, Texas (65.18)
2.   El Paso, Texas (54.85)
3.   Corpus Christi, Texas (53.93)
4.   Pembroke Pines, Florida (52.87)
5.   Baton Rouge, Louisiana (52.50)
6.   Hialeah, Florida (52.22)
7.   Brownsville, Texas (52.12)
8.   Sioux Falls, South Dakota (50.45)
9.   Tulsa, Oklahoma (50.39)
10. Oklahoma City (49.66)

Bottom 10

141. Vancouver, Washington (30.92)
142. Boston (30.77)
143. Oakland, California (30.37)
144. Buffalo, New York (29.54)
145. New York (29.33)
146. Newark, New Jersey (28.69)
147. Philadelphia (28.55)
148. Worcester, Massachusetts (27.38)
149. Jersey City, New Jersey (27.09)
150. Providence, Rhode Island (23.98)

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