This year is shaping up to be a great year for women in business, starting with Obama’s nomination of Maria Contreras-Sweet as leader of the Small Business Administration in January. Now, Nerdwallet.com, an online resource of tools to help visitors compare financials on everything from credit cards to student loans, recently conducted a study on the best cities for female entrepreneurs.
Here at Dun & Bradstreet Credibility Corp., we want women in business to succeed (check out this video from our Access to Capital event in 2012), so we love this list for about a thousand reasons. Here’s a few of the things about this list we’re excited about:
1. That it exists at all. The study compiled information from organizations like the National Association of Women Business Owners (NAWBO) and the U.S. census that demonstrates the pervasive presence of an entrepreneurial glass ceiling; firms owned by women still only employ 6% of the U.S. labor force. Not only does this list help educate us on the continuing existence of gender inequality in business, but it also lets entrepreneurial women experiencing roadblocks and obstacles in their paths to success know that there are places in the country where women are flourishing.
2. That our nation’s capital is number one on the list. It’s comforting to know that the hub of our country’s leadership is also leading the nation in female entrepreneurship. In Washington D.C., women-owned firms account for 34.5% of all businesses. Median earnings for females in D.C. also fell somewhere around $60,116– we’ll take it!
3. That women are experiencing success everywhere. Many of the cities on the list are large and lively cities, but they’re spread pretty evenly throughout the continental U.S. From San Francisco to Minneapolis, female entrepreneurs are making their presence known and providing goods and services for people all throughout the country.
4. That it shows how far we’ve come. Though the list highlighted some areas for improvement, it also demonstrated all the ways in which we’ve moved towards a place of greater gender equality in the world of entrepreneurship and business. In the last 16 years, the number of women-owned businesses grew by 59%, and they now account for $1.3 trillion of the country’s revenue. No matter how much room there is for growth, that’s definitely something to celebrate.
You don’t necessarily have to pick up and move if you’re a woman starting a business; women can succeed anywhere. But it might still be nice to know that there are places where women are thriving and remember that our country is continuing to move forward. We look forward to watching as the list of best cities for female entrepreneurs grows and grows.
Photo credit: JodiWomack, Flickr