There are many things to take into account when making the choice to start a business.
- What industries do well in this city?
- What industries tend to fail?
- Are most businesses run by a corporation or by a small business owner?
- Are successful businesses run by men or women?
A new study released by NerdWallet gives some encouraging statistics for female entrepreneurs. The study shows the women owned businesses has increased. From 1997 to 2013, female owned businesses has increased 59%. Today there are over 8.6 million businesses that are generating $1.3 trillion in revenues each year.
We are proud that there are places like Hera Hub for female entrepreneurs to receive the support and encouragement they need to help grow their business! As we begin the franchising process, we were interested to see what the top 10 cities for female entrepreneurs were.
The study gave us some very exciting results. Many of the cities featured in the top 10 are cities we have begun exploring for franchising! Another exciting result is that Washington DC has beaten out San Jose as the top city for female entrepreneurs! The Bay Area is known for its start ups, but it is exciting to see that female entrepreneurs are taking the nation’s capitol by storm!
