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New report ranks Austin among 10 best cities for black entrepreneurs

New report ranks Austin among 10 best cities for black entrepreneurs

Austin, Texas, skyline, downtown
Austin ranks at No. 6 in a new report from GoodCall, which lauds large Texas cities as some of the best business environments for black entrepreneurs. Ed Schipul/Flickr

Business is booming in the Lone Star State, and a new report from GoodCall ranks large Texas cities as some of the best economic environments for black entrepreneurs. Austin-Round Rock takes the No. 6 spot on the Texas-dominated top 10 list. 

The research website looked at statistics from the U.S. Census Bureau and the Bureau of Economic Analysis to get an idea of "each city's economic health, the strength of its job market, its educational values, and its concentration of African-American-owned businesses."

Austin's emphasis on education and economy propelled our city to the top 10. Our economic health — which was determined by unemployment rate and year-over-year change in gross domestic product — earned Austin a No. 11 ranking in that category. While 24.17 percent of African-Americans in Austin have a bachelor's degree or higher, there are only 3.06 African-American-owned businesses per 1,000 Austin residents, which is far less impressive than the other Texas cities on the list.

The Houston-The Woodlands-Sugarland metro area ranks No. 2 in the nation. In Houston, 23.41 percent of African-Americans have a bachelor's degree or higher. The city impresses with a much higher ratio of 9.47 African-American-owned businesses per 1,000 people. However, Houston ranked No. 24 for economic health, tied with the Dallas-Fort Worth-Arlington area.

The North Texas metroplex comes in just behind Houston at No. 3 overall. There are 8.10 African-American-owned businesses per 1,000 residents, and 23.41 percent have higher education degrees.

San Antonio barely misses the top 10, ranking No. 13. A notable place at No. 18 for economic health and a 24.09 percent education rate boosted San Antonio in the rankings, but the city has a 2.5 to 1,000 African-American-owned business ratio.

For a further break down of the numbers, head to GoodCall.