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Where are the best cities for women to start a business?

UNITED KINGDOM | Wednesday, 31 October 2018 | Views [36]

via Pixabay

Although equality is still a long way from being realised, opportunities for women in the workplace are slowly increasing. Even in traditionally male-dominated sectors, women are starting to make their mark.  

One such sector is startups, where female entrepreneurs have typically been few and far between, and opportunities limited. Crucially, women trail their male counterparts in certain key financial categories including: annual revenues, loan sizes and earnings.

Fortunately, however, this is starting to change, with the number of female entrepreneurs having increased significantly in the last few years. As more and more women are emerging in this sector, where are the best cities for women to start a business?

 

The Women Entrepreneur Cities Index

 

The technology giants Dell have investigated this question, by creating their Women Entrepreneur Cities Index. The index assesses the major 50 commercial cities around the world to find out where female entrepreneurs have been able to most successfully establish and develop a business.

Dell’s Women Entrepreneur Cities Index assesses the access that women business owners have to five specific factors in these various cities: markets, talent, capital, culture, and technology.

The index is designed to measure a city’s ability to not only attract female entrepreneurs, but support high potential startups from women over a sustained period of time.

 

Top 10 cities for women-run startups

 

The index provides six different top 10 lists - one for each of the main factors in their methodology (markets, talent, capital, culture, and technology) and an overall list, which combines these key ratings pillars.

At the top of the overall list is New York City, which scores particularly highly for its markets (ranked first), culture (ranked first) and capital (ranked second). The Big Apple also features in the top 10 for technology (ranked fourth) and talent (ranked sixth), meaning it features across all the key measurements.

New York City is not the only American city in the top 10 list, with 5 other US cities featuring on the overall list as well. San Francisco is just behind New York in second place, thanks mostly to its capital (ranked first) and markets (ranked second). Boston, meanwhile, is fourth overall, Los Angeles is sixth, Washington D.C. seventh, and Seattle tenth. Toronto, in neighbouring Canada features in ninth place overall.

London is the highest city outside of the USA on Dell’s overall top 10, sitting in third place due to its excellent technology (ranked second), markets (ranked third), and capital (ranked third).

The other entrants on the overall list are Stockholm in fifth, with the Swedish capital excelling in technology (ranked third) and culture (ranked fourth). Singapore in seventh is the final entry thanks to its culture (ranked fifth) and available capital (ranked seventh).

Although Dell’s index suggests that opportunities for female entrepreneurs are growing, there is still progress to be made, with these cities sure to be at the forefront of change.

Tags: best place, business, women

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