Portland makes its way on to any number of lists. Some good, some not so good. So it’s really nice to see that a recent report by LendingTree has Portland ranking #6 — just behind Seattle at #5 — for successful entrepreneurs of color. And that’s even more relevant when you take into account that four of the top ten cities are in California.
Minority entrepreneurs have a major presence in the U.S. business landscape, as there are about 8 million minority-owned businesses throughout the country. However, not all of these business owners are succeeding.
Several factors could be at play, such as access to capital, which has long been a hurdle for minority-owned businesses. Location could also be a determining factor in minority entrepreneurs succeeding in their ventures, according to new data from LendingTree.
Portland isn’t the top of the list — so we still clearly have some work to do — but being in the top ten means that we’re already on a potential path to improvement. And when it comes to metro area size, the top five are all bigger than we are.
For more, see the LendingTree report.