Texas Ranked Best State for Female Entrepreneurs
It's no secret to us that Texas is, by far, the best state in which to live. I've just returned from a two-week trip across the country and the Caribbean, and while I had a blast, it felt so great to be back in the Lone Star State. The food is better, the people are far friendlier, and I know I'm back where I'll always belong.
Now there's even more reason to be proud of Texas. According to a recent study by FitSmallBusiness.com, Texas is the #1 state for female entrepreneurs.
Kelly Main with FSB cites our state's business-friendly legal and economic climate (I think we can all agree it's awesome not having a state income or corporate income tax), the high rate of startup growth and success, and the below-average cost of living that allows Texans willing to put in the work to more easily improve their lifestyle than in other states.
This may sound petty, but do you want to know what makes me happiest about that map?
California isn't even in the top ten.
(These rankings, by the way, were decided using the following criteria: general business climate/opportunity (25%), the number of female-owned business (25%), economic and financial health (25%), and safety and well-belling for women (25%).)
I think many of us have experienced a scenario like this at some point - you're at a gathering and you strike up some conversations, and half the people you talk to are transplants from California who hoofed it to Texas as soon as possible to start their career or get their business off the ground. Some people resent that for reasons that aren't entirely invalid, but I take pride in it. We're a magnet for people looking to better their lives and, by creating a successful business, enrich all of Texas.
It's even better when you see strong women of vision flocking here to make it work. It's only been a few decades since the idea of women in the workplace was really normalized, and though there have been significant social, corporate, and political barriers to overcome, women continue to make huge strides in business.
"According to statistics from The University of New Hampshire, the number of female entrepreneurs is growing steadily in the U.S.; 23% of entrepreneurs seeking angel investing were female in 2018, up from 19% in 2014," Main writes. "And here’s an even more encouraging figure: Since 1972, female-owned businesses in the U.S. have surged 3,000%."
So, to all the ladies rolling up their sleeves and pouring their heart, soul, blood, sweat, and tears into a business they believe in, I salute you. Welcome to Texas. We're proud to have you!