Austin & Dallas Earn Top 2 Spots for Black Business Owners
When it comes to tax-friendly cities and ease of starting a business, Austin and Dallas took the No. 1 and 2 spots when ranked by African-American small business owners, according to Thumbtack chief economist Jon Lieber. Jon tells us black-owned businesses are on a roll, up to 9.4% of small businesses in 2012 from 7.1% in 2007.
Jon says the growth triggered the question of which cities were doing best for these business owners. In Thumbtack’s small business friendliness survey, respondents were asked questions about local tax laws, licensing rules and the regulatory environment.
Texas ranked highest overall. Jon says the survey responses were then examined based on race. What he found was that black business owners nationwide were slightly younger, more likely to work alone, and cited inflation as a top concern for the federal government at twice the rate of other business owners in the survey. Nine of the top 10 cities are in the South. From top to bottom: Austin, Dallas, Columbus, West Palm Beach, Richmond, Virginia Beach, Kansas City (MO), Nashville, Jacksonville and Raleigh.
