The Best Cities for Women Entrepreneurs

Business is all about growth.  It’s about anticipating a new opportunity before it happens and knowing how to maximize its potential.  And, while the economic environment may be tough, now could be the perfect time for women to capitalize an opportunity, flex their muscles and start a business.

Findings from a new study by the Kauffman Foundation on the Entrepreneurship Gender Gap reveal women only account for roughly one third of all new business launches.  Women entrepreneurs are also falling behind men when it comes to revenue generation.  Less than two percent of female-led small businesses have revenue exceeding $1 million.  In contrast, more than six percent of male-led firms reported revenue of over $1 million.

Keeping this data in mind, ForbesWoman decided to compile its first annual list of the top 20 cities for women in business.  Criteria that were taken into consideration when compiling the list included:

• What cities have seen the biggest growth in the number of female-led firm in recent years
• Where are the most SBA-backed loans going
• Where are women turning the SBA loans into million-dollar profits

At the top of the list were New York and San Francisco.  The study showed women have an easier time finding the funding and resources that can ultimately make their businesses succeed quicker.  Cities that also made the list include:  Tampa, Fla., Bethesda, Md. and Washington, D.C.