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Study Says This State is #1 for Women Entrepreneurs

If you are thinking that New York, California or D.C. are the best places for women entrepreneurs, you would be wrong. A recent study showed that this state is actually the best for women-owned businesses, and for many reasons.

#1 state for women

The state chosen as #1 is North Dakota! Fundera, an online resource for small businesses to locate top lenders and compare rates, ranked the state #1 because it had the highest five-year growth in average revenue of women-owned businesses. North Dakota also had the highest percentage of women-owned businesses with paid employees and the highest average revenue of women-owned businesses.

Against all odds

North Dakota has only one Small Business Administration Women's Business Center, and it's not the highest in percentage of total businesses in the state that are owned by women. But the state has a good climate for women entrepreneurs who are hard working and determined to be successful business owners.

Another state that earned high marks is Minnesota. The state was ranked high in percentage of women with higher education degrees, five-year growth in average revenue of women-owned businesses and overall unemployment rate.

So, it just goes to show that successful women are everywhere.