There are plenty of reasons why women are left out in the cold, ranging from the lack of access to investors to not being taken seriously. Yes, even in this day and age, “access to capital is one of the most significant hurdles for women starting and growing their businesses,” says Carla Harris, chair of the National Women’s Business Council
Women’s Entrepreneurship Day, celebrated on November 19th to honor how women are advancing as entrepreneurs and business owners across the world. Historically, women have controlled a vast majority of small to medium consumer choices, representing trillions of dollars in revenue. But how long will we have to wait for that purchasing power to transform into full executive power and representation?
Become your own boss. It’s a popular pathway that women are taking to close their own individual gaps. A study from 2018 commissioned by American Express showed that 40% of businesses in the United States are women-owned, with nearly half of those business owners being women of colour.
The top three cities for women entrepreneurs include the Bay Area in California at #1, New York City at #2, and London at #3. The full 50-city ranking for the annual WE Cities Index is below, with green arrows indicating an upward shift in rank, red indicating downward shift, and yellow indicating no major shift.