The Hispanic community isn't just growing in population and increasing its buying power in the U.S. Its members are also rapidly creating businesses, and a new report finds that San Antonio provides some of the best conditions for these enterprises to thrive.
Alamo City ranks No. 5 nationwide on WalletHub's list of best cities for Hispanic entrepreneurs for 2019. The personal finance site compared more than 180 cities by Hispanic-business friendliness and Hispanic purchasing power, among other metrics, for the report.
San Antonio earns a total score of 59.84. In addition to taking the fifth spot overall, the city ranks No. 7 in Hispanic-business friendliness and No. 19 in Hispanic purchasing power.
Numerous Texas cities join San Antonio at the top of the list, including Laredo, which ranks No. 1 overall with a total score of 64.69 and takes the No. 2 spot in Hispanic-business friendliness and No. 10 spot in purchasing power.
Also in the top 20 are Corpus Christi (3), El Paso (9), Grand Prairie (11), Amarillo (12), Brownsville (13), Fort Worth (14), Austin (17), and Irving (20). Houston comes in at No. 27, and Dallas is right behind at No. 28.
The study also finds that Laredo has the second-highest percentage of Hispanic residents in the country, while Brownsville and El Paso follow as the third- and fourth-highest, respectively. The Texas trio also ties for first place (with Hialeah and Miami, Florida) for the highest share of Hispanic-owned businesses.