Richmond named among best cities in country for black entrepreneurs

RICHMOND, Va. – If you are a black entrepreneur, Richmond is one of the best cities in the country to start a business, according to the online magazine the Rolling Out.

The publication ranked the River city 9th in its top 20 list of best places for black entrepreneurs. Richmond joined cities like Atlanta, Washington D.C., Miami, and Baltimore in the top 10.

“As entrepreneurship continues to rise, cities such as the D.C.-Maryland-Virginia metropolitan area have become great places to cultivate new ideas and companies,” the article said.

The online magazine also highlighted the correlation between strong minority leadership and the development of minority businesses.

Richmond Mayor Levar Stoney said the honor once again shows that Richmond continues to be one of the best destinations to start a business.

“I’m delighted to congratulate the City of Richmond for achieving this accomplishment, ranking among the top 20 cities for black entrepreneurs,” said Stoney. “It is an honor to be recognized as a hub for cultivating new ideas, entrepreneurship and pioneering for the development of black-owned businesses.”

The publication noted that many of the cities included share similar characteristics, such as political support for entrepreneurs, investments from black owned banks and partnerships with Historically Black Colleges and Universities.

As for Virginia cities, Virginia Beach, was also named as the 11th best city for black entrepreneurs.

The full top 10 list includes:

  1. Atlanta, Georgia
  2. Montgomery, Alabama
  3. Memphis, Tennessee
  4. Washington, D.C.
  5. Durham, North Carolina
  6. Savannah, Georgia
  7. Baton Rouge, Louisiana
  8. Baltimore, Maryland
  9. Richmond, Virgina
  10. Miami, Florida

Click here to see the full list.