Many cities in the South represent some of the best places for black-owned businesses. States like Alabama, North Carolina, Louisiana, and Georgia are some of the very best states. But the one city that rises to the very top is Atlanta, Georgia.
Here are just 5 reasons why:
- Cost of living - according to Sperling research, Atlanta's overall cost of living is 96.80 based on a U.S. average of 100. That makes it affordable.
- Consumer market - According to NerdWallet, Georgia has the nation’s third-largest black consumer market, worth over $73 billion.
- Strong business environment - according to Snapfinger, Atlanta has a strong as well as diverse business environment, and plenty of young talent who are attracted to everything that Atlanta has to offer.
- Strong Chamber of Commerce - Atlanta has a very active Black Chamber of Commerce that hosts monthly events and mentoring programs for black-owned businesses. This is important because a chamber can make or break a business environment. They are a business networking group that is responsible for furthering the interests of businesses.
- Encourages minority business development - Atlanta has a Minority Business Development Agency that provides resources to help local minority-owned businesses.
But not just Atlanta
Savannah, Georgia is also on the list, ranking #6 for it's rich black culture, plenty of funding by banks and credit unions, and the existence of nonprofits that encourages entrepreneurship and innovation.
Read more at www.bizjournals.com/atlanta/news/2015/08/19/atlanta-the-best-city-in-america-for-black-owned.html