File photo
File photo
Ranked fifth in the nation’s largest metro areas as a hub of minority entrepreneurship by fintech company Self, the City of Houston still has hurdles in the way of minority-owned startups.
Approximately 5,600 startups in the Houston region – 30% of the total – are minority-owned, according to a post on the Greater Houston Partnership’s website. Those startups are estimated to employ approximately 22,700 workers.
Yet, the comparative minority population for the Houston area is 64% of the total population.
“As 2020 has illustrated, opportunities to participate and succeed in the entrepreneurial economy are not equally distributed by race and ethnicity,” the post said. The greatest hurdle for most minority-owned entrepreneurs is simply having access to capital.
Ed Ryland, president and CEO of Houston-based ARVO Realty Advisors, said there are a number of ways the city can help to grow minority business ownership. Some of that involves finding creative funding sources for entrepreneurs, as well as better advocacy for minority businesses among corporate CEOs.
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