Have you ever strived to be a successful business woman but not sure how or where to start your career? New research from Share file shows that sometimes relocation is key to opening the door to your dream career.
The data compiled by the file-sharing experts ranked the 50 largest cities in the US based on four main criteria: the number of women-owned businesses, the percentage of managerial positions held by women, the wage gap between women and men, and the buying power of women ( based on the cost of living and the woman’s average salary).
Each city was ranked on each of these criteria, with the average positions then compiled into an overall ranking that indicated that Baltimore, MD is the place to be for women in business. However, if you are unable to move to Maryland, fear not, as the top 5 also had some strong competitors, here are the 5 best cities for women on the workforce:
1. Baltimore, Maryland
% of companies owned by women: 23.3% (10thth)
% of female managers: 31.3% (10th)
Wage difference between women and men: 18.2% (26th)
Purchasing power of women: 123.4 (1stst)
Heather Garner, owner of Collect change psychotherapySays: “Baltimore is a great city to work in as it is a smaller ‘big city’ but is central to other major metropolitan areas. In two hours on the train you can be in New York City, 45 minutes and Washington DC, and in an hour you can be in Philadelphia. With a smaller population than nearby cities and so many unique communities and groups here in Baltimore, networking is very easy, and verbal transfers are often the be-all and end-all of small businesses.
“We don’t call it ‘Smalltimore’ for nothing! The business communities here in Baltimore are very active and often ready to help newcomers. Since people in this area are used to the commute, they are also ready to travel for a great product or service. “ That’s why Baltimore tops the list of the best cities for women in the workforce.
2. Tampa, Florida
% of companies owned by women: 22.6% (14th)
% of female managers: 31.1% (4thth)
Wage difference between women and men: 13.1% (9thth)
Purchasing power of women: 96.7 (24th)
Janel Laravie, founder and CEO of Chacka Marketingsays, “Tampa is the best city to do business for for so many reasons! We have amazing universities that bring out the best and brightest talent. The business world in Westshore and downtown Tampa includes unique and professional networking and meeting environments such as the Oxford Exchange and Center Club.
“Good advice for starting a business in Tampa would be to network with local business owners. The entrepreneurs in this community were and are selfless in sharing their experiences. Every entrepreneur I’ve met here strives to build others and ultimately contribute to the growth of the city. “
3. Washington, DC
% of companies owned by women: 24.5% (5thth)
% of female managers: 32% (5thth)
Wage difference between women and men: 15.1% (15th)
Purchasing power of women: 85.5 (35th)
Roshni Agarwal, co-founder of The vacation huntsays: “DC is generally very welcoming to startups. It was recently voted one of the best places to start a tech company. There were also increasing numbers of women in higher positions of power in the region, which sets the tone.
“What advice would I give women starting a business in DC? Just start! You don’t know until you try, and you’d be surprised how much other women are here. “
4. Las Vegas, Nevada
% of companies owned by women: 22.5% (15thth)
% of female managers: 31.8% (7thth)
Wage difference between women and men: 12.3% (5thth)
Purchasing power of women: 83.9 (36thth)
Joey Montano, Senior Strategist at RevUnitSays, “Las Vegas is a great place for business because the cost of ownership is lower compared to other major cities. To me, the tax benefits are amazing (no state tax is a big bonus). I think most people don’t expect Las Vegas to be as big as it is, but there are plenty of affordable options when looking for locations to set up a business (co-working spaces pop up a lot).
“I think the Vegas startup community is on the verge of a boom. It might not be as big as it was a few years ago. In the world of startups, striving for diversity in the community is generally a big agenda. Vegas is all about “make up or mouth” so the market doesn’t care who you are or what your background is. That in itself lowers many barriers for most people. “
5. Orlando, Florida
% of companies owned by women: 23.1% (12th)
% of female managers: 29.8% (20thth)
Wage difference between women and men: 12.2% (4thth)
Purchasing power of women: 90.9 (33approx)
Lisa Jennings, Chief Experience Officer at Completely differentSays: “Orlando is the ideal location for a company like ours as it is one of the most popular convention cities in the US. It’s also a growing, vibrant place with a great reputation and opportunity. A large number of people in the hospitality industry of which we are a part are women. So it doesn’t feel like you’re bumping into a glass ceiling.
“There are also a number of organizations that you can join to meet like-minded business people. In addition to the obvious choices like Chambers of Commerce, Visit Orlando, and Downtown Orlando Partnership, etc., there are many meetup groups that provide support for the self-employed. Go out there, get known and tell people what you want to achieve – you will be amazed how helpful people can be! “
Why moving can be good for you
While many business people aim to make an impact in the area they are already in, the research above shows that it is worth moving and taking advantage of the opportunities available – even if you return home at some point.
The east coast seems like the place to be, with four of the top five cities, and Florida alone has two of them. The full list reveals other major cities with greater opportunities for female leaders, but Baltimore will take over the crown in 2021.
Hope you enjoyed top 5 best cities for women on the workforce. If you are looking for a new job, be sure to update your resume for the new year. If you like these kind of lists, you can see the best cities for millennials to afford and work in.
The best apps to save real money
We talk a lot on the phone, don’t we? Wouldn’t it make sense to save money with the best money-saving apps?