What are the best states for Black entrepreneurs? According to a website named ThyBlackMan.com, three of the top five are in the Mid-Atlantic region.
Virginia, Maryland, and Delaware were ranked #1, #2, and #5, respectively. “The region’s success can be ascribed to several factors, including the sizeable black population there and public and private programs designed to support black-owned enterprises,” the site suggests.
Coming in #3 was Texas followed by Nevada at #4.
How were the rankings derived? Four race-specific success factors that were given the highest weights were: (1) percentage of black-owned enterprises; (2) proportion of Black-owned enterprises’ staff; (3) Black-owned enterprises’ average yearly payroll; and (4) Black company owners’ average yearly income.
The rankings also took into account a number of general measures including the rate of unemployment, state income rate, and living costs to provide a more comprehensive economic picture of each state.