Austin One of Top U.S. Cities for Women Entrepreneurs
published on March 2, 2014
Austin has been named the number eight city in the nation for women entrepreneurs by consumer finance company Nerd Wallet. The female-forward analysis of the United States’ 50 most populous cities was performed in honor of Women’s History Month and based on five areas: business-friendliness, presence of female entrepreneurs, earnings of female workers, education level, and economic state.
Female entrepreneurs now run more than 8.6 million businesses in the United States, generating more than $1.3 trillion in revenue, according to Nerd Wallet. Data from the National Association of Women Business Owners shows this number grew 59% between 1997 and 2013.
Austin is known for its entrepreneurial spirit and an abundance of startups, but how well do Austin businesswomen fit into this mix? Here is how Austin ranked:
Businesses per 100 residents – 10.8
Women-owned businesses – 28.2%
Unemployment (November 2013) in Austin – 4.5%
Number of residents 25 and up with at least a Bachelor’s degree – 45%
Median earnings for female full-time workers – $40,356
While not noted in the study, Austin women also have the benefit of supplementary support organizations for female business women. The Women’s Business Center at BiGAUSTIN supports women entrepreneurs with business coaching and more. Non-profit Austin Women in Technology serves Austin’s community of women entrepreneurs in the technology industry. Factor in the Young Women’s Alliance and even girls’ groups such as GENAustin and Girlstart, and it begins to be clear just how female friendly the business culture in Austin is.
The combination of a healthy economy, an educated population, and the presence of successful female role models makes Austin a place where women seize their turf on the corporate playing field. Whether it is at The University of Texas at Austin, in large corporations, at small businesses, or throughout the media, female bosses resonate.