2015 Small Business City for Minority Entrepreneurs is Riverside-San Bernardino - Biz2Credit
Riverside-San Bernardino Scores Best in Biz2Credit's 2015 Ranking of The Best Small Business Cities for Minority Entrepreneurs in AmericaMay 05, 2015

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Analysis Examined Markets with the Highest Annual Revenue, Credit Scores and Other Factors

Biz2Credit, the leading online platform for small business finance, has identified the Riverside-San Bernardino, CA, as the 'Best Small Business City for Minority Entrepreneurs in America,' based on a weighted average that includes annual revenue, credit score, age of business (in months), and a proprietary BizAnalyzer score that takes into account cash flow, debt-to-income ratio, and business owners' personal credit scores. Minority businesses in Riverside-San Bernardino had the highest business revenues and the second highest BizAnalyzer score in 2014, according to the study. It also placed in the top ten for highest average credit score, while edging two of America's powerhouse cities Los Angeles and Chicago.

"The positioning of Riverside-San Bernardino makes it a prime location for immigrants of Central America," explained Biz2Credit CEO Rohit Arora, one of the nation's leading experts in small business finance, who oversaw the research. "Overall, the Riverside area is a hotbed for business activity at the moment. Its support networks including incubators and a high profile 'Shop Riverside'."

The New York metro area finished in second place, while Houston ranked third in the study. Minority businesses in the New York metro area, which improved from No. 8 overall last year, ranked highest on the list in the average credit score and BizAnalyzer score categories. While, Houston ranked in the Top 10 in three out of the four categories analyzed (BizAnalyzer scores, credit scores and revenue). Last year, Houston ranked as the 15th best city for minority business owners.

The state of California incredibly had seven cities that ranked in the Top 25, including the top city. While Texas and Florida each had three areas represented in the Top 25.

  1. Riverside-San Bernardino, CA
  2. New York Metro
  3. Houston, TX
  4. Detroit, MI
  5. Charlotte, NC
  6. Chicago, IL
  7. Denver, CO
  8. Las Vegas, NV
  9. San Francisco-Oakland, CA
  10. Miami, FL
  11. Seattle, WA
  12. Los Angeles, CA
  13. Atlanta, GA
  14. Philadelphia, PA
  15. Dallas, TX
  16. Orlando, FL
  17. San Diego, CA
  18. Tampa-St. Petersburg, FL
  19. Phoenix, AZ
  20. Sacramento, CA
  21. San Antonio, TX
  22. Fresno, CA
  23. San Jose, CA
  24. Washington D.C.
  25. Virginia Beach, VA

The Top 25 metro areas by Annual Revenue featured two of best cities in the Top 3 overall for minority entrepreneurs including Riverside-San Bernardino (No. 1) and the New York Metro area (No. 3) at the top of the list.

"Last year, Philadelphia emerged as a Top 5 city for highest revenue thanks to its strong showing in the retail trade industry," Arora explained.

Top 25 Metro areas with the highest applications in 2014 Average BizAnalyzer Score Average Business Age (Months) Average Annual revenue Average Credit Score
Riverside-San Bernardino-Ontario, CA6033 $4,853,837.21 635
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD5026 $2,287,303.75 584
New York-Newark-Jersey City, NY-NJ-PA6676 $1,691,916.07 653
Detroit-Warren-Dearborn, MI5025 $1,200,611.22 649
Charlotte-Concord-Gastonia, NC-SC5958 $1,158,666.67 635
Tampa-St. Petersburg-Clearwater, FL5433 $909,480.08 585
Houston-The Woodlands-Sugar Land, TX5743 $889,693.19 649
San Francisco-Oakland-Hayward, CA5543 $727,640.77 609
Orlando-Kissimmee-Sanford, FL5228 $714,703.67 589
Las Vegas-Henderson-Paradise, NV5429 $691,625.67 627
Atlanta-Sandy Springs-Roswell, GA5126 $663,942.13 599
Los Angeles-Long Beach-Anaheim, CA5546 $471,801.31 631
San Diego-Carlsbad, CA5552 $443,308.20 618
Miami-Fort Lauderdale-West Palm Beach, FL5643 $436,579.93 620
Denver-Aurora-Lakewood, CO4913 $366,277.78 644
Dallas-Fort Worth-Arlington, TX5541 $349,744.32 624
Washington-Arlington-Alexandria, DC-VA-MD-WV5453 $348,952.40 605
Phoenix-Mesa-Scottsdale, AZ5759 $337,911.76 609
Chicago-Naperville-Elgin, IL-IN-WI5526 $317,363.60 634
San Jose-Sunnyvale-Santa Clara, CA5746 $288,805.61 563
Sacramento-Roseville-Arden-Arcade, CA5020 $250,315.59 591
Fresno, CA5540 $212,072.77 581
Seattle-Tacoma-Bellevue, WA5429 $203,306.88 647
San Antonio-New Braunfels, TX4616 $107,545.48 600
Virginia Beach-Norfolk-Newport News, VA-NC4653 $53,925.10 584
National Average5443 $708,199.84 617

When sorted by Age of Business (in months),Denver was the leader, indicating that it is a hotbed of business development. San Antonio and Sacramento were second and third respectively.

"The emergence of the legal marijuana industry in Colorado has spurred to economic growth in the Mile High City," Arora said. "There is a lot growth in the back office technology segment in Denver, as well."

Top 25 Metro areas with the highest applications in 2014Average BizAnalyzer ScoreAverage Business Age (Months)Average Annual revenueAverage Credit Score
Denver-Aurora-Lakewood, CO4913 $366,277.78 644
San Antonio-New Braunfels, TX4616 $107,545.48 600
Sacramento-Roseville-Arden-Arcade, CA5020 $250,315.59 591
Detroit-Warren-Dearborn, MI5025 $1,200,611.22 649
Atlanta-Sandy Springs-Roswell, GA5126 $663,942.13 599
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD5026 $2,287,303.75 584
Chicago-Naperville-Elgin, IL-IN-WI5526 $317,363.60 634
Orlando-Kissimmee-Sanford, FL5228 $714,703.67 589
Las Vegas-Henderson-Paradise, NV5429 $691,625.67 627
Seattle-Tacoma-Bellevue, WA5429 $203,306.88 647
Riverside-San Bernardino-Ontario, CA6033 $4,853,837.21 635
Tampa-St. Petersburg-Clearwater, FL5433 $909,480.08 585
Fresno, CA5540 $212,072.77 581
Dallas-Fort Worth-Arlington, TX5541 $349,744.32 624
Houston-The Woodlands-Sugar Land, TX5743 $889,693.19 649
San Francisco-Oakland-Hayward, CA5543 $727,640.77 609
Miami-Fort Lauderdale-West Palm Beach, FL5643 $436,579.93 620
Los Angeles-Long Beach-Anaheim, CA5546 $471,801.31 631
San Jose-Sunnyvale-Santa Clara, CA5746 $288,805.61 563
San Diego-Carlsbad, CA5552 $443,308.20 618
Virginia Beach-Norfolk-Newport News, VA-NC4653 $53,925.10 584
Washington-Arlington-Alexandria, DC-VA-MD-WV5453 $348,952.40 605
Charlotte-Concord-Gastonia, NC-SC5958 $1,158,666.67 635
Phoenix-Mesa-Scottsdale, AZ5759 $337,911.76 609
New York-Newark-Jersey City, NY-NJ-PA6676 $1,691,916.07 653
National Average5443 $708,199.84 617

When sorted by Credit Score, the New York Metro area was the leader, with Houston and Detroit placing just behind them.

Top 25 Metro areas with the highest applications in 2014 Average BizAnalyzer Score Average of Age in Months Average Annual Revenue Average Credit Score
New York-Newark-Jersey City, NY-NJ-PA6676$1,691,916.07 653
Houston-The Woodlands-Sugar Land, TX5743 $889,693.19 649
Detroit-Warren-Dearborn, MI5025 $1,200,611.22 649
Seattle-Tacoma-Bellevue, WA5429 $203,306.88 647
Denver-Aurora-Lakewood, CO4913 $366,277.78 644
Charlotte-Concord-Gastonia, NC-SC5958 $1,158,666.67 635
Riverside-San Bernardino-Ontario, CA6033 $4,853,837.21 635
Chicago-Naperville-Elgin, IL-IN-WI5526 $317,363.60 634
Los Angeles-Long Beach-Anaheim, CA5546 $471,801.31 631
Las Vegas-Henderson-Paradise, NV5429 $691,625.67 627
Dallas-Fort Worth-Arlington, TX5541 $349,744.32 624
Miami-Fort Lauderdale-West Palm Beach, FL5643 $436,579.93 620
San Diego-Carlsbad, CA5552 $443,308.20 618
Phoenix-Mesa-Scottsdale, AZ5759 $337,911.76 609
San Francisco-Oakland-Hayward, CA5543 $727,640.77 609
Washington-Arlington-Alexandria, DC-VA-MD-WV5453 $348,952.40 605
San Antonio-New Braunfels, TX4616 $107,545.48 600
Atlanta-Sandy Springs-Roswell, GA5126 $663,942.13 599
Sacramento-Roseville-Arden-Arcade, CA5020 $250,315.59 591
Orlando-Kissimmee-Sanford, FL5228 $714,703.67 589
Tampa-St. Petersburg-Clearwater, FL5433 $909,480.08 585
Virginia Beach-Norfolk-Newport News, VA-NC4653 $53,925.10 584
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD5026 $2,287,303.75 584
Fresno, CA5540 $212,072.77 581
San Jose-Sunnyvale-Santa Clara, CA5746 $288,805.61 563
National Average5443 $708,199.84 617

"Credit scores and the overall health of small businesses around Detroit are surprisingly strong. The auto makers' comeback has sustained, helped, in part, by low gas prices " explained Arora. "Manufacturing has become so high tech, and IT companies related to the renewed strength of the auto industry has translated into success for the area. IT companies are growing, as are staffing companies."

About the Biz2Credit Best Small Business Cities in America Study

Biz2Credit analyzed 12,000 businesses with less than 250 employees and less than $10 million in annual revenues from across the country that have been in operation for more than 1 year.