SmartAsset has released its list of the best places for Black entrepreneurs in 2023. Despite comprising over 12% of the U.S. population, Black Americans own less than 3% of all businesses. SmartAsset’s study, which analyzed 39 of the largest metro areas, reveals key insights into the prevalence, success, and financial health of Black-owned businesses.
The study focused on three categories and a total of nine metrics, including the number of Black-owned businesses, new business success, and income and job security. The rankings are based solely on business and employment data, excluding social climate and other factors contributing to racial inequality.
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