In order to select a decent state to start a business in, it’s always helpful to know more about your options. Especially as a female professional who might face more obstacles in your career! So, here’s a guide on women entrepreneurs: the top states for female-owned businesses.
Florida
Florida is first on our list of the top states for female-owned businesses, and it’s a very tempting option. It is one of the states with an extremely high percentage of female business owners. With just a bit over forty percent of businesses being owned by women, Florida can even compete for the title of number one in this statistics. You will be able to focus on running your business with a peace of mind due to the state’s excellent support of startups, too. The wage gap in this state is also extremely small, so it’s not a bad place to work, either!
California
Here’s a fun fact, California is not just one of the top states for female-owned businesses. It is also one of the states where female-owned businesses generate highest revenues, with a stunning number of such businesses generating over one million dollars every year. According to Clarify Capital, the state is even among the top few in funding offered to female-owned businesses, which means you’ll potentially have a much easier time getting your business off the ground. It also must be noted that California’s beauty and climate make it much easier to enjoy a healthy lifestyle, too. A good mentality is important, since it can even help avoid loss of business while moving by helping to prevent sudden drops in productivity.
Colorado
Another entry on our list of the top states for female-owned businesses is Colorado. Colorado is generally a great place to start your business, since the state has a very good startup survival rate. In fact, it is as high as seventy eight percent. This, combined with the fact that the state has a lot of female-owned businesses already, makes for an environment where you can both watch your business grow and make plenty of connections with other female business owners that make your future expansion even easier. You will be able to improve your lifestyle and business with half the effort it would take in most other states.
New York
There are few reasons not to consider New York a great state to start a business in general. The state abounds with excellent services, lots of employment opportunities, has a bustling economy, and is a great hub of wealth. Of course, if you decide to set up in New York City itself, the costs will be considerable. But having access to the city’s conveniences balances things out. What you might not have known is that it’s also one of the top states for female-owned businesses, with a very decent thirty six percent of female business owners.
Nevada
Nevada definitely deserves its spot as one of the top states for female-owned businesses due to two reasons. First, it ranks extremely high in the percentage of female-owned businesses, and the number approaches thirty seven percent. The second reason is the fact that most of these businesses are highly successful, with a large number of employees. Adding to this the fact that excellent professionals, such as commercial moving experts are at your service in this state, and you have a very good environment to grow your business.
Vermont
Vermont often doesn’t get enough attention, but it, too, is a great choice of state to start a business. It has relatively low costs to operate a business, a decent market to expand into, and a nice environment supportive to startups.
Texas
While it may be surprising to some, Texas comes out as one of the top five states when it comes to the percentage of businesses owned by women. Add to that the overall low cost of living in the state, and you have a perfect environment to start a business! You won’t have to mull over the pros and cons of investing in commercial properties, for example. You can just purchase your own office with a peace of mind and make your business thrive.
Maryland
You might be thrilled to hear Maryland’s a great choice of state to start a business in as a woman. First, because startups here have a staggering survival rate of over eighty percent. Second, because around thirty nine percent of all businesses are owned by female professionals. The state has an overall low unemployment rate, too, so it’s a pleasant place to do business!
Virginia
Next on our list is Virginia, where there is a reported percentage of female-owned businesses of a bit over thirty five percent. The amazing thing about picking Virginia as the state to start a business in is the support small businesses get here. Women-owned businesses included, of course. The state provides a lot of different subsidies, grants and similar to small or starting business owners. And, the networking events organized regularly are immensely helpful, too! Together, this more than justifies Virginia’s standing as one of the states with the lowest rates of unemployment.
Louisiana
The final entry on our list of the top states for female-owned businesses is Louisiana. Now, interestingly enough, Louisiana is not just one of the best states to own a business in as a woman. It is also one of the best states for women who want to make a successful career in general. This is because Louisiana reports one of the smallest wage gaps between men and women in the entire US. So, even if you don’t want to start your own business, this is a great place to work!
The right state for your own needs and intentions
Now that you are familiar with our guide on women entrepreneurs: the top states for female-owned businesses, you can pick out your ideal state. If you carefully account for the sort of business you want to run, and the market you want to enter, you can select the perfect state for your needs.