Celebrating International Women’s Day, Tuesday, November 8, 2016
Location plays an important role in the success of any business. Consider the importance of location for small businesses in the movie and entertainment industry. Who would have a better shot at success? Hollywood, California or Hollywood, Alabama? As we’ve noted before, there are small businesses that are a part of supply chains—for example, auto manufacturing—where proximity isn’t just convenient, it’s a just-in-time delivery requirement.
But there are other types of geo-advantages that may not be so obvious. For example, are their certain cities where women would have a better chance for success than another? And if so, why? According to new research, some places are, indeed, better than others at encouraging and facilitating women to start and sustain businesses.
Analysts from the financial comparison service, WalletHub.com, recently analyzed data of the 100 largest metropolitan statistical areas (MSAs) to rank their friendliness toward the creation and sustainability of women-owned businesses. The metrics analyzed included such factors as the average revenue growth of women-owned businesses, the presence of women’s business centers, the industry variety among women-owned firms. (More information about the methodology of the survey and analysis from academics and analysts can be found at WalletHub.com.)
Here’s the ranking:
Top U.S. Cities For Women-Owned Business[table “” not found /]