What are the best cities in the world for female entrepreneurs?
For many male entrepreneurs around the world, business is booming, but within this competitive marketplace, women are starting to make their voices heard as well.
While women still trail their male counterparts in terms of annual revenues, credit scores, loan sizes, and crucially, earnings, in recent years, the rate of female entrepreneurs has grown significantly.
Thanks to the hard work and success of many businesswomen, this disparity is slowly being closed, with more and more female-run businesses succeeding even in this competitive male-dominated marketplace.
But where are the best cities in the world for women to set up a business?
The tech company Dell has done the research and put together their Women Entrepreneur Cities Index to assess the best cities for female entrepreneurs to set up and develop a business.
Dell’s index assessed 50 of the busiest, commercial cities around the globe based on female business owners’ access to five key categories: markets, talent, capital, culture, and technology.
New York City comes out top of the index overall, thanks to its number one ranking for markets and culture, and second placed ranking for access to capital. Bay Area in second and London in third are unsurprising entrants, with all of the top three cities famed for their business culture.
Perhaps more interestingly, Stockholm is ranked sixth overall, with the Swedish capital ranking in the top ten for access to technology, culture, and capital. While both cities miss out on the overall top 10, Kuala Lumpur achieved fifth place for its markets, while Nairobi ranks sixth in terms of capital – demonstrating the strength of growing markets.
Although the number of opportunities for female entrepreneurs are growing, even the top-rated city, New York, only received 62.9 points in Dell’s index.
It is striking that although female entrepreneurs are growing at double the rate of males, men still own 1.5 times as many businesses as women, have 3.5 times as many employees, and generate 4.5 times more revenue.
This means that there is work still to be done to support female entrepreneurs, with various cities beginning to offer the access needed across a number of key areas.
To see the the full breakdown of the best cities for female entrepreneurs, check out the graphic below: