Louisiana ranks 21st for number of entrepreneurs; NOLA and Lafayette rank in top 15 cities

The Lafayette and New Orleans metropolitan areas are among the 15 nationwide with the highest percentage of entrepreneurs, according to a report from Commodity.com, a website that analyzes commodity trading trends.

Lafayette ranked 13th and the New Orleans-Metrairie area ranked eighth, according to the report. Overall, Louisiana ranked 21st in terms of the percent of workers who are business owners with just over 10%.

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Around 12.3% of workers in the New Orleans-Metairie Metropolitan Statistical Area are business owners, according to the report, which used data from the U.S. Census Bureau and included the 100 most populous metro areas in the country. The metro area has around 68,700 total business owners and had nearly 30,000 applications for new businesses in 2020.

In the New Orleans area, the median income for a business owner was on par with that of full-time workers, sitting around $50,000 per year.

In the Lafayette metro area, around 11.7% of workers are business owners, according to the report. The area has around 27,300 total business owners and had more than 7,600 new business applications in 2020. Business owners make around $50,000 per year, slightly more than the average for full-time employees, which is $48,000.

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The full top 15 list includes:

  1. North Port-Sarasota-Bradenton, Florida

  2. Miami-Fort Lauderdale-West Palm Beach, Florida

  3. Asheville, North Carolina

  4. Deltona-Daytona Beach-Ormond Beach, Florida

  5. Cape Coral-Fort Myers, Florida

  6. McAllen-Edinburg-Mission, Texas

  7. Los Angeles-Long Beach-Anaheim, California

  8. New Orleans-Metairie, Louisiana

  9. Bridgeport-Stamford-Norwalk, Connecticut

  10. Oxnard-Thousand Oaks-Ventura, California

  11. Austin-Round Rock, Texas

  12. Charleston-North Charleston, South Carolina

  13. Lafayette, Louisiana

  14. Lancaster, Pennsylvania

  15. Little Rock-North Little Rock-Conway, Arkansas

Baton Rouge ranked 67th of the 100 most populous metro areas in U.S., with around 8.6% of workers owning businesses. The area has around 31,700 total business owners and had around 17,800 new business applications in 2020, according to the report.

Louisiana's other metropolitan statistical areas — Alexandria, Hammond, Houma-Thibodaux, Lake Charles, Monroe, and Shreveport-Bossier City — did not meet the population requirements for the analysis.

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This article originally appeared on Lafayette Daily Advertiser: Lafayette, New Orleans among cities with most entrepreneurs, report says

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