ATLANTA — When Andre 3000, one-half of OutKast uttered the words, “The South Got Something to Say,” at The Source Awards in 1995, Atlanta, at least in his eyes, was being disrespected and looked down upon.
Nearly 20 years later, Atlanta is thriving in a way where those notions have been put to rest as LendingTree.com has ranked the city in the top spot for highest percentage of Black-owned businesses in the country.
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Atlanta, the publication says, has the highest rate of Black-owned businesses in the U.S. at nearly 9 %, a jump from 7.4 % in 2020, the highest across the 50 metropolitan areas across the country.
Out of the 50 metro areas in the U.S., Atlanta has the second-highest number of Black-owned businesses and the fifth-highest Black population rate, according to the publication.
Which cities are duplicating similar success as Atlanta in Black-owned entrepreneurship?
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Coming in second place is Washington D.C. or ‘Chocolate City’ as it is affectionately known with a 7.6 % Black-owned business rate. Next, would be Memphis, Tenn. and Augusta, Ga. who tied at 6.7 %.
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“The newest LendingTree study spotlights Black-owned businesses. While the rate of Black-owned companies increased in 2021 (the latest data available), it lags significantly behind the percentage of Black residents,” the publication said. “Limited resources and discrimination in financial services are just some hurdles some Black business owners face.”
Despite the challenges, Atlanta remains at the top of the list for the second consecutive year.
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