Fundid Mar 3, 2021 9:06:00 AM 4 min read

​Top States for​ ​Women Entrepreneurs

AtFundid​, we strive to always motivate and guide women entrepreneurs through growth, learning, and community. This is accomplished through access to capital and other services. Where you live and conduct business also may affect your success. What are the top states for women entrepreneurs?
A recent report by Merchant Maverickfound that women-led businesses are seeing considerable growth. Nationally, they even surpassed the $17 billion mark in venture capital in 2018 and 2019. This number is inspiring, especially considering that not all states practice equal opportunities for women.

Top Five States for Women Entrepreneurs:

1. ​Colorado

●  Women-led firms — 27.7%

●  Statewide, employed by women-led firms — 19.9%

●  Women leading businesses' average income — $66,687

●  Women-led startups' venture capital invested — $485 million

●  Active startups after year one — 78.7%

Resources:​ ​Grants for Women Entrepreneurs in Colorado

27.7% of businesses in the Centennial State are owned by women. Furthermore, 19.9% of employees in Colorado work for women-run businesses (eighth nationally).

2. ​Washington

●  Women-led Firms — 28.2%

●  Statewide, employed by women-led firms — 20%

●  Women leading businesses' average income — $65,439

●  Women-led startups' venture capital invested — $398 million

●  Active startups after year one — 79.7%

Resources:Grants for Women Entrepreneurs in Washington

Washington has been an active longtime host to many tech-focused companies, and 28.2% of Washington businesses are women-led. 20% of employees in Washington are employed at women-owned businesses.

Additionally, the amount of money invested over the past five years into these women-led venture-backed companies topped more than $398 million. Washington also does not have a state income taxfor many entrepreneurs.

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3. ​Virginia

●  Women-led Firms — 27%

●  Statewide, employed by women-led firms — 20%

●  Women leading businesses' average income — $67,923

●  Women-led startups' venture capital invested — $46 million

●  Active startups after year one — 90.5%

Resources: ​Grants for Women Entrepreneurs in Virginia

The state of Virginia comes in third for women-run businesses at 27.0% with 20.0% of those businesses employees being women. Additionally, Virginia also tops the charts with the highest "startup survival rate" nationwide at an impressive 90.5%.

In normal circumstances, the Commonwealth of Virginia has only a 5.3% unemployment rateamong the top 10 states.

4. ​Florida

●  Women-led Firms — 26.3%

●  Statewide, employed by women-led firms — 18.8%

●  Women leading businesses' average income — $57,871

●  Women-led startups' venture capital invested — $219 million

●  Active startups after year one — 77.9%

Resources: ​Grants for Women Entrepreneurs in Florida

When it comes to engagement and VC funding, Florida takes the cake for women entrepreneurship. For the past five years, Florida's VC funding for women's startups has ranked in the top 10 with a whopping $219 million generated. Florida is another state, like Washington, that has no income tax.

However, women self-employed business owners average a yearly revenue of only $57,871, coupled with an unemployment rate of 6.5%, which is a bit on the high side.

5. ​Montana

 Women-led Firms — 26.2%

●  Statewide, employed by women-led firms — 19.6%

●  Women leading businesses' average income — $85,064

●  Women-led startups' venture capital invested — $90,000

●  Active startups after year one — 79.7%

Resources: ​Grants for Women Entrepreneurs in Montana

Finally, Montana rounds out our top states for women entrepreneurs. In Montana, self-employed women business owners comprise 2.41% of businesses with an average income of around $85,064. Montana also has the second highest average income for women business owners.

Regrettably, Montana has only received approximately $90K in venture capital for strictly women-led businesses in the past five years.Friday Fund

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