Henrico Named a Top 10 Location for Black Entrepreneurs
HENRICO, Va., Feb. 1, 2023 /PRNewswire/ -- Henrico, Virginia was named one of the Best Places for Black Entrepreneurs, according to Smart Asset. The Richmond metro area, which includes the locality, placed eighth out of fifty-seven of the largest metro areas in the country. Metrics included number of Black-owned businesses, start-up survival rate, median Black household income, percentage of businesses with sales exceeding $250,000, and more. Since 2007, Henrico has spent $1.3 billion with small, women- and minority-owned (SWaM) businesses and they account for 56% of its annual spend.
- 56% annual spend is with small businesses, the highest of any Central Virginia locality
HENRICO, Va., Feb. 1, 2023 /PRNewswire/ -- Henrico, Virginia was named one of the Best Places for Black Entrepreneurs, according to Smart Asset. - Since 2007, Henrico has spent $1.3 billion with small, women- and minority-owned (SWaM) businesses and they account for 56% of its annual spend.
- "It is our mission and our honor to grow the economy for all," says Anthony Romanello, Executive Director of the Henrico Economic Development Authority (EDA).
- The recognition by SmartAsset comes two years after the Henrico EDA announced a revamped approach to assisting its SWaM businesses.