If you’re a woman looking to open your own business, location is critical. And if you have the freedom to choose your location, the closer you get to the edge of the country, the better.
Earlier this year, the editors at FitSmallBusiness.com, the digital business publication, released the Best States for Females Entrepreneurs. During the preparation of the state-wide study, there were several key success factors which the editors decided can be more accurately represented at the city level. These factors include safety ratings, availability of professional resources and organizations, social and leisure life opportunities and market size. Not surprisingly, many of the cities on this list are in states featured in FitSmallBusiness.com‘s January’s study. The editors supplemented the factors mentioned above with updated data from key sources such as WalletHub, AreaVibes, and TaxFoundation, and included weighted metrics to produce a total score for each city on a scale of 1 to 100.
The juxtaposition between the Best and the Worst cities underscore the importance of success and failure factors for female entrepreneurs. Top-ranking cities enjoy a high quality of life, major funding and safety ratings, while those on the bottom lack social infrastructure, small business funding and SBA support.
You can find the full report HERE.
The Top 5 Cities for Female Entrepreneurs
#2. San Diego
#4. Columbus, OH
The Bottom 5 Cities for Female Entrepreneurs
Fit Small Business editors used this following weighted metrics to compile the ranking:
- Market size and buying power – 20 percent
- Startup environment – 20 percent
- Quality of life – 20 percent
- Availability of resources and funding – 20 percent
- Safety – 15 percent
- Corporate tax rate – 10 percent
“You can have the right business idea but that alone is not enough,” says Sarah Wright-Killinger, Managing Editor, Fit Small Business. “Location is crucial. If you choose one of these Top 5 cities on our list, your business will have access to all the tools in order to make it succeed and flourish.”