Women business owners face enough challenges managing their companies without having to worry about location. But the fact is not all cities are equally hospitable to women-owned businesses. As a woman entrepreneur, what locations should you consider to ensure the success of your business?
Among the most populated cities in the US, San Francisco and Washington, DC, offer some of the highest per capita incomes while Austin and Minneapolis sport some of the lowest unemployment rates. In San Francisco and Seattle, women operate the highest number of businesses per capita while in Washington, DC, and Atlanta women own over a third of businesses. And cities like Houston, which loans women over $35 million to start businesses, offer the support women need as they venture into the business world.
Considering these factors, which cities are the most lucrative locations for women to start their companies?
Top Five Cities for Women Entrepreneurs
- San Francisco
- Seattle
- Washington, DC
- Minneapolis
- Portland (Oregon)
In 1997, some 5.4 million women owned businesses; by 2007 that number had spiked to 7.8 million. With growth like this, it’s no wonder 81% of female entrepreneurs show optimism about their business ventures.
Five Tips for Future Female Business Owners
- Find a mentor and ask for help when needed
- Be a mentor
- Be confident
- Network
- Trust your instincts
Are you a current or soon-to-be women business owner? Tell us how your networks or your city helps you succeed.