Boulder named tops in nation for women-owned businesses

Posted by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, November 3rd, 2015 at 10:31am.

Colorado women entrepreneurs, here is some news you can use: Three of the top 10 best places  for women to start a business are in Colorado.

In the nationwide analysis examining metro areas for the success of women-owned ventures, Boulder was ranked No. 1 followed by Denver-Aurora-Lakewood at No. 3 and Fort Collins at No. 10, according to a NerdWallet.com analysis. 

All three locales got high marks for above-average levels of women’s entrepreneurship and small-business loan rates when compared to 174 U.S. metro areas.

The study focused on factors for small-business success -- including financing opportunities, local economic health and business climate -- using data from the U.S. Census Bureau and the Small Business Administration.

Colorado and California claimed seven of the spots on the top 10 list. California logged spots No. 4 – 8 with metro areas Santa Cruz-Watsonville, Santa Rosa, San Luis Obispo-Paso Robles-Arroyo Grande and San Francisco-Oakland-Hayward, respectively.

Graphic courtesy of NerdWallet.com

Overall scores are based on evaluations of business climate for 45 percent of the total, economic health for 25 percent and financing opportunities for 30 percent.

Ratings on business climate were based on average revenue per women-owned business, the percentage of women-owned businesses with paid employees, and women-owned businesses per 100 residents.

Local economic health was gauged on median annual income for women, median annual income of women as a percentage of the annual income for men, and unemployment rate.  

Metrics for evaluating financing opportunities included SBA-guaranteed loans per 100,000 residents and average size of SBA-guaranteed loans.

Nationally, woman-owned businesses are seeing significant growth with a 27 percent increase from 2000 to 2012, outperforming the 2 percent growth in new U.S. businesses. SBA loans granted to women from 2013 to 2014 also saw double-digit growth of 19 percent. Currently, the 9.9 million women-owned U.S. businesses generate a total of $1.6 trillion in revenue.

Top Colorado Metro Areas for Women-Owned Businesses

Rank

Metro area

Average revenue for women-owned businesses

Women-owned businesses per 100 people

Women’s median annual income

Average SBA-guaranteed loan

1

Boulder

$91,050

4.42

$48,223

$217,912

3

Denver-Aurora-Lakewood

$170,068

3.22

$45,543

$255,120

10

Fort Collins

$100,198

3.58

$37,795

$204,374

Source: NerdWallet, www.nerdwallet.com/blog/small-business/women-entrepreneurs-small-business-loans/

NerdWallet is headquartered in San Francisco and provides information to help consumers make financial decisions. For the full report visit http://www.nerdwallet.com/blog/small-business/women-entrepreneurs-small-business-loans/

Tom Kalinski 
Owner and Founder
RE/MAX of Boulder
303-441-5620
tomkalinski33@gmail.com

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