Climbing the ranks to No. 2 is the Lone Star State. Texas, which is also among the fastest-growing states, has cultivated a business-friendly reputation that appears to be attracting a high volume of women-led organizations and startups. Major tech hubs in Austin and Dallas have made Texas a great place for venture capital, with women-led startups pulling in $814 million in VC funding in the last five years. The state doesn’t do as well when it comes to average income metrics, but with a 0% state income tax, women business owners can expect an average $62,945 yearly income to go farther in Texas than it would in most other states.
Florida bumped up one spot from 4th last year, thanks largely to the fact that 2.26% of all women in the state run their own business (4th overall). Women-led startups have also pulled in $286 million in venture capital over the past five years. The Sunshine State’s lack of an income tax is quite helpful as well. The startup potential here is obvious as companies look beyond Silicon Valley – for instance, investors have tapped the sunny shores of Miami as fertile ground for startups shedding the office building lifestyle.
While it’s taken a modest tumble from 2nd to 4th place, Washington is still a great place for women-led businesses, which account for nearly a third (29.9%) of all firms within the state, up from 28.2% last year. The self-employment rate for women also rose from 1.66% to 1.91%. The Evergreen State’s I-5 corridor remains one of the biggest tech hubs on the West Coast outside of Silicon Valley, which helped women-led startups nab $481 million in venture capital funding over the past five years. Continue reading “Maryland, which recently launched a startup-focused tax credit, cracks the top 10 after sitting just outside last year in 12th”