Austin on NerdWallet’s Best Cities for Women Entrepreneurs
Washington D.C., Atlanta, Austin and Raleigh are among the best cities for women entrepreneurs, Forbes reported, citing a listing from NerdWallet.
NerdWallet assessed the cities’ entrepreneurial climate on four criteria — the number of businesses per 100,000 residents within city limits; the percentage of businesses that are owned by women; the financial health of the city, based on median income and unemployment rate; and the percentage of residents over 25 who hold a Bachelor’s degree, Forbes said.
Here’s a snapshot of the cities in the top 10, according to NerdWallet’s ranking:
3. Washington, D.C.
“Over one-third of businesses in DC are owned by women, meaning that women in this city can find plenty of female coworkers and mentors. The city provides plenty of resources to women as well, such as the Washington, DC Women’s Business Center. The organization, partially funded by the SBA, offers trainings, classes and one-on-one consultations.”
“Atlanta has plenty of businesses, a third of which are run by women, and an educated population, making it a great city for female entrepreneurs. Plus, businesswomen can meet at the various networking events and educational programs run by the NAWBO in Atlanta. The Georgia Mentor Protégé Connection assists women in finding mentors, and the state provides plenty of trainings and networking assistance for women business owners.”
7. Austin, TX
“Austin is known for its startups—there are almost 11 businesses for every 100 Austin residents. Austin has a very low unemployment rate of only 6.2%, which is one reason we rated it as the number one city for job seekers. With organizations like Austin Women in Technology, businesswomen in Austin will have little trouble finding a supportive and knowledgeable community.”
8. Raleigh, N.C.
“Raleigh’s low unemployment rate and high number of businesses per person make it a great city for female entrepreneurs. Entrepreneurs can check out organizations like Raleigh Business and Professional Women for resources. In addition, the City of Raleigh has adopted a Small Disadvantaged Minority and Women Owned Business Program, promising to award 15% of the city’s contracts to minority-owned and women-owned businesses.”
Forbes, which publishes a similar listing, took issue with NerdWallet’s rankings. It pointed out that Houston, which is not on NerdWallet’s list, boasts more than $35 million in loans to women for building businesses each year. Also not on the list is New York, which Forbes says is the leader in both the number (143) of and dollar amount ($42,281,500) of small business loans granted to women last year.
New York tops Forbes’ list, while San Francisco is No. 1 on NerdWallet;s list.
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