FL ranks second for best in the US for minority entrepreneurs | Florida

Florida is the state to be for minority entrepreneurs, a new study has found.Researchers at Baldwin Digital analyzed 2021 U.S. Census data on businesses ownership, comparing racial group demographics to find which states had the highest rate of minority-owned businesses per 1,000 minority residents.Florida has an average of 31.28 minority-owned businesses per 1,000 minority residents. About 137,804 firms around the state are registered to non-white owners. Asian-owned businesses comprise the majority of the total (34,284), and Black-owned businesses come in 2nd place with 18,502–the highest number nationwide.Wyoming ranks at the top of the study, with 34.53 minority-owned businesses per 1,000 minority residents. Following Wyoming is California at third place with 28.46 businesses, New Mexico at fourth place with 2625, and Colorado at fifth with 25.70 businesses per 1,000 minority residents.Mark Baldwin, director and founder of Baldwin Digital Ltd, commented on the study, “The West appears to be the best region for minority-owned businesses, with seven of the 10 states with the highest rates located there.“Minority business owners in America can receive support from several avenues to help give their ventures a better chance of success. Support includes government grants, Minority Business Development Agency (MBDA) grants, financial consultations, and the National Minority Supplier Development Council’s Business Consortium Fund.”

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