Amarillo is a great city, and it is a great city to start a business. Many business owners have opened up shop in Amarillo and most of them have done quite well.
When it comes to Hispanic-owned businesses Amarillo has been one of the best cities in the United States for Hispanic Entrepreneurs. In fact, Amarillo just keeps moving up the list.
Why is Amarillo a Great City for Hispanic Entrepreneurs?
WalletHub conducts an annual survey to determine the best cities in the country for Hispanic Entrepreneurs. Amarillo was ranked #15 in 2023 and has now jumped three spots to #12 in 2024.
WalletHub’s study was based on 23 key metrics including:
- Hispanic Entrepreneur Rates
- Housing Tenure
- Revenue Growth
- Share of Hispanic-owned Businesses
Lubbock is very similar to Amarillo, however, they landed on the list at #105 on the list of best and worst cities in the US for Hispanic entrepreneurs.
According to the Joint Economic Committee:
- 1 in 4 new businesses are Hispanic-owned
- Hispanic-owned businesses contribute over $800 billion to the American economy
- Hispanic Business increased by 34% since the pandemic.
As Amarillo’s population continues to grow so will the businesses especially the local businesses that are the heart of our community.
The most recent US Census data for Amarillo tells us that 34% of the Amarillo population are Hispanics or Latinos, and currently make up 40% of the Texas population. Amarillo is an ideal city to open a new business with the expectation of success. This data places Amarillo at the top of the list.
If you’re a Hispanic entrepreneur considering opening a business in the Yellow City, you’re in the right place.
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