The top 10 cities with the highest number of female business owners

By Small BusinessFOXBusiness

In new game of Ms. Monopoly women make more money than men

Hasbro tackles the gender pay gap with its new Ms. Monopoly game. FBN's Cheryl Casone with more.

In 2013, women were told to “lean in” and it looks like some cities heard the message loud and clear.

Continue Reading Below

A report compiled by e-commerce software platform Volusion analyzed data from the U.S. Census Bureau to determine which metropolitan areas had the largest percentage of female-owned businesses. It also looked at the median earnings of female business owners and how it compared to male counterparts.

If you’re wondering whether your area made the cut, here are the top 10 cities that have female business owners in abundance. The following list is ranked from least to greatest.

10. Indianapolis-Carmel-Anderson

  • Business owners who are women: 33.8 percent; 9,936 total
  • 10-year change in business owners who are women: 5.6 percentage points
  • Most common industry: Retail trade
  • Median earnings of female business owners: $34,517 (all) / $51,454 (full-time)
  • Pay gap for female vs. male business owners (all): 56.2 percent
  • Pay gap for female vs. male business owners (full-time): 70.5 percent

The report found that although Indianapolis has a history of being a “major manufacturing hub,” the women-owned businesses in the area have the highest representation in retail trade.

When it comes down to median earnings for female business owners in Indianapolis, the report says it “is lower than the national median when taking all female business owners into consideration, but [is] slightly higher than the national median when only accounting for full-time owners.”

It also noted that in recent years, the city of Indianapolis had launched multiple organizations dedicated to developing women-owned businesses.

The Central Indiana Women’s Business Center is one example the report mentioned having a working relationship with the government agency known as the U.S. Small Business Administration. Together, they provide resources for female entrepreneurs.

9. Phoenix-Mesa-Scottsdale

  • Business owners who are women: 33.9 percent; 29,716 total
  • 10-year change in business owners who are women: 3.8 percentage points
  • Most common industry: Arts, entertainment, recreation, accommodation, food services
  • Median earnings of female business owners: $39,986 (all) / $51,422 (full-time)
  • Pay gap for female vs. male business owners (all): 69.7 percent
  • Pay gap for female vs. male business owners (full-time): 78.4 percent

“The Phoenix-Mesa-Scottsdale metro area has the smallest earnings gap on the list among full-time male and female business owners,” the report said. However, it noted that female business owners Arizona's capital metro area were still lagging behind male business owners — earning only 78.4 percent of what they make.

State- and city-based organizations have been implemented to close the wage gap. The Arizona Women’s Education and Entrepreneurship Center offers free counseling, business workshops, and financial literacy classes to aid female entrepreneurs while Women on Adventures promotes the premise of women helping women.

8. Washington-Arlington-Alexandria

  • Business owners who are women: 34.6 percent; 38,801 total
  • 10-year change in business owners who are women: 3.6 percentage points
  • Most common industry: Other services (except public administration)
  • Median earnings of female business owners: $49,066 (all) / $60,504 (full-time)
  • Pay gap for female vs. male business owners (all): 65.8 percent
  • Pay gap for female vs. male business owners (full-time): 68.3 percent (full-time)

The nation’s capital is home to a vast number of “well-educated” government workers and private sector companies, both of which help to support the federal government.

“Female business owners in the D.C. area have the highest median earnings on the list, at $49,066 ($60,504 when only including full-time business owners),” the report noted about the Washington, D.C. metro area, which includes areas of Maryland, Virginia and West Virginia.

It accredited female-focused organizations that provide resources and events to participating entrepreneurs, such as the DC Women’s Business Center and Beacon.

The report also asserted a number of women-owned businesses in the greater D.C. region have received national recognition. It listed Omega World Travel, a 100 percent women-owned company focused on business travel as an example. 

According to the Washington Business Journal, Omega World Travel earned an estimated $1.4 billion in revenue in 2017.

7. Rochester, New York

  • Business owners who are women: 34.6 percent; 5,047 total
  • 10-year change in business owners who are women: 10.9 percentage points
  • Most common industry: Other services (except public administration)
  • Median earnings of female business owners: $32,186 (all) / $36,357 (full-time)
  • Pay gap for female vs. male business owners (all): 61.4 percent
  • Pay gap for female vs. male business owners (full-time): 60.0 percent

When it comes to the community that has the highest number of women-owned businesses in New York, you’ll find it outside the “Big Apple.”

According to the reported Census data, “The Rochester metro area saw a large increase in women-owned businesses from 2007 to 2017, with the share of female business owners increasing by 10.9 percentage points.”

The report also noted that the city government is making great strides to support female business ownership with the Minority and Women-Owned Business Enterprise hiring goals implemented in 2018.

Moreover, there is a Rochester chapter of SCORE, the nation’s largest network of volunteer business mentors. The organization hosts events, offers online resources and matches businesswomen with savvy mentors.

6. Las Vegas-Henderson-Paradise

  • Business owners who are women: 34.7 percent; 9,715 total
  • 10-year change in business owners who are women: 6.7 percentage points
  • Most common industry: Educational services, health care, social assistance
  • Median earnings of female business owners: $39,834 (all) / $52,148 (full-time)
  • Pay gap for female vs. male business owners (all): 64.6 percent
  • Pay gap for female vs. male business owners (full-time): 73.1 percent

“Las Vegas’s low commercial real estate prices combined with Nevada’s favorable business tax breaks make the metro area an attractive place to start a business,” the report said as a kickoff to their analysis.

It goes on to say that Census data revealed female business owners in Las Vegas are likely to work in education and healthcare rather than entertainment and tourism. This falls in line with the city’s healthcare expansion as an economic initiative.

The Nevada Women's Business Center and the Small Business Administration are two notable organizations dedicated to creating and boosting women's business ownership.

MORE ON FOXBUSINESS.COM...

5. Virginia Beach-Norfolk-Newport News

  • Business owners who are women: 34.8 percent 8,671 total
  • 10-year change in business owners who are women: 6.4 percentage points
  • Most common industry: Retail trade
  • Median earnings of female business owners: $33,901 (all) / $41,658 (full-time)
  • Pay gap for female vs. male business owners (all): 66.2 percent
  • Pay gap for female vs. male business owners (full-time): 67.2 percent

According to the report, the Atlantic coast metro area of Virginia Beach, which includes portions of North Carolina, is known for its booming industries like tourism, agricultural business and defense. The percentage of women-owned businesses is 34.8, and many of these businesses are in retail.

The report suggested female retailers thrive off the influx of tourists in addition to servicing the local Virginia Beach population.

It also mentioned that Old Dominion University’s Institute for Innovation & Entrepreneurship launched a Women's Business Center that offers free or low-cost tools related for independent business success.

4. Riverside-San Bernardino-Ontario

  • Business owners who are women: 35.0 percent; 20,047 total
  • 10-year change in business owners who are women: 6.7 percentage points
  • Most common industry: Educational services, health care, social assistance
  • Median earnings of female business owners: $35,938 (all) / $52,534 (full-time)
  • Pay gap for female vs. male business owners (all): 57.7 percent
  • Pay gap for female vs. male business owners (full-time): 78.3 percent

“The Riverside ... metro area is a financially rewarding place for female business owners,” the report stated based on Census data that showed women-owned businesses in this California metro area earn about 1.3 times the amount that all women in the region earn.

In terms of the earnings gap between genders, women business owners still earn less than men. Particularly, in Riverside-San Bernardino-Ontario, earnings are 57.7 percent among all female business owners and 78.3 percent among the full-time owners.

The report attributed the public California State University — San Bernardino campus for its Inland Empire Women’s Business Center, which is focused on helping women achieve entrepreneurial goals.

3. Portland-Vancouver-Hillsboro

  • Business owners who are women: 35.1 percent (19,591 total)
  • 10-year change in business owners who are women: 2.7 percentage points
  • Most common industry: Educational services, health care, social assistance
  • Median earnings of female business owners: $39,494 (all) / $50,023 (full-time)
  • Pay gap for female vs. male business owners (all): 65.5 percent
  • Pay gap for female vs. male business owners (full-time): 72.0 percent

The median earnings for full-time female business owners in Portland, Oregon, metro area, which includes portions of Washington State, is $50,023, which is slightly below the national median of $50,248. However, data appears to show Portland-based businesses that are owned by women overall are doing better.

“By contrast, the median earnings of female business owners overall ($39,494) is higher than this demographics’ national median of $36,737,” the report said.

The report also ascribed three statewide initiatives for helping female entrepreneurs, such as the Office of Women's Business Ownership, Women Entrepreneurs of Southern Oregon and Women's Business Center - Mercy Corps.

2. Louisville-Jefferson County

  • Business owners who are women: 38.0 percent; 7,914 total
  • 10-year change in business owners who are women: 11.3 percentage points
  • Most common industry: Other services (except public administration)
  • Median earnings of female business owners: $38,114 (all) / $40,959 (full-time)
  • Pay gap for female vs. male business owners (all): 61.6 percent
  • Pay gap for female vs. male business owners (full-time): 58.7 percent

“Compared to the other metros on this list, Louisville showed the largest 10-year change in the percentage of business owners who are women, boasting an 11.3 percentage point gain from 2007 to 2017,” the report said.

This is a contrast to the median earnings for full-time female business owners in the Louisville metro area, which includes portions of Indiana, and those earnings are nearly $10,000 less than the national median. The pay gap, when compared to the city’s full-time male business owners, is 58.7 percent.

Louisville has a number of nonprofits that are dedicated to addressing this problem, according to the report. One it noted, is the National Association of Women Business Owners, Kentucky Chapter, which is designed to assist women business owners.

1. Tucson, Arizona

  • Business owners who are women: 38.2 percent; 4,945 total
  • 10-year change in business owners who are women: 6.7 percentage points
  • Most common industry: Arts, entertainment, recreation, accommodation, food services
  • Median earnings of female business owners: $45,791 (all) / $52,294 (full-time)
  • Pay gap for female vs. male business owners (all): 73.6 percent
  • Pay gap for female vs. male business owners (full-time): 73.2 percent

About 128 miles away from the Phoenix metropolitan area that was ranked as number nine in this list, is the city of Tucson, which takes the crown of being a female business haven. Women represent 38.2 percent of the business owners in this southwestern metro area.

“According to Census earnings data, Tucson women business owners also earn 1.6 times the amount that all women workers in Tucson earn,” the report said.

It also noted that women-owned businesses in this city were more prevalent in the arts, entertainment, recreation, accommodation, or food services industries.

The six-month Fuerza Local Accelerator program for Tuscon-based Latino groups and the entrepreneurial business resource, eWomenNetwork, are credited with having a significant role in the development of women entrepreneurs, according to the report.

CLICK HERE TO READ MORE ON FOX BUSINESS

What do you think?

Click the button below to comment on this article.