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ATLANTA — When Andre 3000, one half of Outkast, uttered the words “The South has something to say” at the 1995 Source Awards, Atlanta was despised and looked down upon, at least in his eyes. It looked like.
Nearly two decades later, Atlanta is defying that notion and thriving, with LendingTree.com ranking the city No. 1 for black-owned businesses in the country.
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Of the 50 largest metropolitan areas in the United States, Atlanta has the second-highest number of black-owned businesses and the fifth-highest black population, according to the publication.
According to the magazine, Atlanta has the highest percentage of black-owned businesses in the United States, at nearly 9%, up from 7.4% in 2020, the highest of any of the nation’s 50 metropolitan areas.
What other cities have similar success in Black-owned entrepreneurship as Atlanta?
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In second place is Washington, DC, affectionately known as “Chocolate City,” with 7.6% of black-owned businesses. Next were Memphis, Tennessee, and Augusta, Georgia, tied at 6.7%.
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“LendingTree’s latest research focuses on Black-owned businesses. “While the percentage of Black-owned businesses increased in 2021 (the latest data available), it continues to lag far behind the percentage of Black residents,” the publication said. “Limited resources and discrimination in financial services are just some of the hurdles some Black business owners face.”
Despite the challenges, Atlanta remains at the top of the list for the second year in a row.
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