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:
North Port-Sarasota-Bradenton, Florida
Miami-Fort Lauderdale-West Palm Beach, Florida
Asheville, North Carolina
Deltona-Daytona Beach-Ormond Beach, Florida
Cape Coral-Fort Myers, Florida
McAllen-Edinburg-Mission, Texas
Los Angeles-Long Beach-Anaheim, California
New Orleans-Metairie, Louisiana
Bridgeport-Stamford-Norwalk, Connecticut
Oxnard-Thousand Oaks-Ventura, California
Austin-Round Rock, Texas
Charleston-North Charleston, South Carolina
Lafayette, Louisiana
Lancaster, Pennsylvania
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