A newly released study that examined the best and worst states for female entrepreneurs found that Washington is the No. 10 best state for female-owned businesses.
More specifically, the AdvisorSmith study found that:
- In Washington, the average female-owned employer business had 8.3 employees, while the national average was 9 employees.
- Female-owned companies in the state had an average payroll of $321,332, compared with the national average payroll of $330,171.
- The proportion of female-owned businesses in Washington with more than $100,000 in revenue as a percentage of the female working-age population was 2.3 percent compared to the national average of 1.9 percent.
To find the best and worst states for female entrepreneurs, AdvisorSmith, a business insurance resource, studied the average number of employees, the average payroll, and the percentage of the female labor force that owned businesses with at least $100,000 in revenue and at least one employee.
Female entrepreneurship adds to the vitality of the country’s economy and is gaining momentum. In fact, female-owned businesses account for more than 2 million firms and employ more than 18.1 million Americans, having a significant impact on the national economy.