What makes San Diego 13th best for female entrepreneurs and women owned business start ups? A financial research firm ranked San Diego 13thth nationwide, however there clearly is more work to be done to push our city up the list of places friendliest to women starting a business.
Five criteria were used to assess the cities, including the percentage in each city of businesses owned by women, as well as the median income for full-time female employees.
In San Diego, 31 percent of our businesses are owned by female employers; the national average is 29 percent. Unfortunately, our rate of business growth among women is slower than the national average. Since 2002, the rate of woman-owned businesses here has risen 25 percent. Compare that to a national growth rate of 59 percent since 1997.
The median income for female workers in San Diego: $42,106. The Union-Tribune article on the analysis noted that female employees in New York City average $45,081, while in Charlotte, North Carolina, the average is $37,427. A San Diego woman who owns a consulting firm said the number of female entrepreneurs is “still too low.”
She said 50 percent should be the target figure. However, she also noted San Diego is typically more accepting of female and minority entrepreneurs than other parts of the nation, including the Midwest. She said people here are more interested in what a business can deliver than whether or not a male is in charge.
The top city in the nation for female entrepreneurs is Washington D.C. according to the survey. San Diego finished third in California, ranking behind San Jose (9th) and San Francisco (2nd).
The factors noted above which make San Diego 13th best for female entrepreneurs demonstrates the work yet to be accomplished in this area. The Watkins Firm is committed to helping all entrepreneurs, regardless of your age, gender, race or status. If you are seeking cost-effective yet valuable counsel on starting a business in San Diego or Southern California we invite you to review the strong recommendations of former clients and the legal industry and contact the Watkins Firm or call 858-535-1511 for a free consultation today.
