Silicon Valley still reigns supreme as the epicenter of entrepreneurship in the United States of America. That is, it is the epicenter for male entrepreneurs. But if you are a woman trying to build a successful business in the US, research shows that you should consider New York City. Findings of the Dell Women Entrepreneur Cities Index have revealed that NYC is one of the best cities in the world for women entrepreneurs, and the reasons for that are numerous. Whether you are a woman who knows what she wants after university, a single mom, or a businesswoman with an established company, these are the reasons to pack your bags and move to the Big Apple the first chance you get.
What are the findings of the Dell Women Entrepreneur Cities Index?
Women are no longer taking a back seat to men. Nowadays, women can be just as successful as men in the same field and with the same startup capital. However, not every city is equally suitable for a woman to reach her full potential. That’s precisely what the Dell Women Entrepreneur Cities Index has investigated. In order for high-potential women entrepreneurs to grow, the surroundings need to be stimulating and motivating. The top 10 cities in the world that offer the best women-specific conditions are:
- New York
- Bay Area
With New York taking the top spot and ranking even better than San Francisco, it’s clear that it is the perfect place for you to grow and change as a female entrepreneur. If you are wondering how Dell arrived at the findings that NYC is one of the best cities for women entrepreneurs, then you ought to know that as many as 70 metrics were taken into consideration. Some of them were of importance and relevance to both men and women. However, many metrics were specific to women and their convenience and comfort.
There is a significant debate on whether we have really reached equality between men and women in the business world. Therefore, Dell didn’t want to leave anything up to chance. They considered plenty of women-specific metrics influencing the list presented a minute ago. We have already mentioned that they took seventy metrics into consideration, some of which include:
- Paid maternity leave
- The number of venture capital firms founded by women
- The media attention that is given to female entrepreneurs
- And the presence/absence of a female mayor in the past three terms
New York City takes the top spot on the list of the best cities for female entrepreneurs because its overall score was the highest. Once you consider all of these metrics, it becomes clear why everyone is moving to Brooklyn, Manhattan, and other boroughs that make up the Big Apple. If you’re still not convinced, keep reading to understand exactly why this might be a good decision for both your personal and professional life.
Facts that support the claim that NYC is one of the best cities in the world for women entrepreneurs
Once you take a better look into the matter, you won’t have a problem realizing why New York City is such a good place for successful businesswomen. The Big Apple has many good things going to its advantage, as we have discovered some irrefutable facts that further support the claim that NYC is the place to be if you are a female entrepreneur.
- New York has the largest number of female-owned and founded businesses in the United States of America.
- New York City is home to 410 000 businesses that are owned by the female population.
- Tech is the city’s quickest-growing sector, and a quarter of founders in NYC’s tech industry are women.
- The city has made investments in female-founded firms through numerous programs.
New York City continues to take the necessary steps to show that it’s all for female empowerment. In fact, the city has awarded $1 billion in contracts to minorities and female-owned businesses. When a city goes to such lengths to ensure the satisfaction and commodity for its female citizens, it’s bound to be ranked as one of the most welcoming places in the States.
Some of the advantages women have in business
Clearly, women are nowadays appreciated for the unique qualities they have to bring to the table. For starters, women excel at the soft skills necessary for business leadership. Did you know that studies show women perform much better than men in 11 of 12 key emotional intelligence competencies? While technical skills and knowledge are fundamental for business success, characteristics such as good communication, self-awareness, and empathy are the ones that can make a real difference. They can also tip the scales in favor of female business owners.
Moreover, women are a substantial economic power as they contribute a staggering $20 trillion in consumer spending annually. Thus, women are more competent when it comes to offering essential consumer insights. A business definitely wants to have the power of the female consumer working in its corner. And New York City is a city that recognizes that power and wisely invests in its growth.
The bottom line
If you are a prospective businesswoman, you want to provide yourself with the most stimulating environment. Judging by numerous studies, you will manage to do that by moving to New York City. NYC is one of the best cities in the world for women entrepreneurs because it continues to invest in female-owned businesses. Of course, that’s just one of the reasons why the Big Apple is the place of female encouragement and empowerment. You just have to use everything it has to offer.
Photos used via Pixabay