It’s no secret that some cities in the U.S. pay women better than others. As such, it’s not totally surprising that some cities are way more business-friendly for female entrepreneurs than others, too. The finance wizards at NerdWallet have the dish on where to go if you want to start your own business.
NerdWallet analyzed data to find the best cities for women entrepreneurs using five variables: How business-friendly each city is; what percentage of businesses in each are owned by women; the median earnings of full-time female workers; the percentage of residents 25 years or older with at least a bachelor’s degree; and what the economic state of each city is based on its unemployment rates.
Washington, D.C. took the top slot; more than a third of the businesses in the nation’s capital are owned by women, giving it the highest rate of women-owned business in the country. It also boasts a number of organizations geared towards providing resources for women in business. Meanwhile, in the number two winner on the list, San Francisco, women can expect to earn a median full-time income of more than $60,000 – the best across the U.S. When it comes to startups, Austin, TX is the place for women to be; earning the number 8 slot, it also has a healthy economy as evinced by its extremely low unemployment rate of 4.5 percent. And of course, women working in tech would do well to settle in Silicon Valley – nearly 31 percent of businesses in San Jose, which won the number 9 slot, are owned by women; furthermore, women entrepreneurs in the area can take advantage of the Silicon Valley Center for Entrepreneurship at San Jose State University.
Below is a list of the top 10 with all the stats. Check out Nerd Wallet for the top 20 and a handy infographic.
