Providence Gets Mixed Grades as a City for Women in Business
Thursday, February 25, 2016
A new report on women owned businesses finds that Providence scored poorly. The data from America Express OPEN's new report ranks Providence #88 out of 100 measured in the study.
In the macro, the report found that "more than 9.4 million women-owned businesses currently operate in the U.S. Combined, those firms account for nearly a third of all privately held companies, pull in annual revenues to the tune of $1.5 trillion and provide jobs to roughly eight million workers."
In addition, women owned businesses are the fastest-growing enterprises in the nation — increasing at a rate 1.5 times the U.S. average and topping “the growth rates of all but the largest, publicly-traded firms” in the past 18 years.
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In Providence ranks 52nd in the United States and by measure they rank:
‘Overall New-Business Friendliness’ Rank -- 75 Ranked
‘Female Entrepreneurship’ Rank -- 34 Ranked
‘Business Climate for Women’ -- 37 Ranked
News England Cities ranked --
#20 New Haven, CT
#33 Bridgeport-Stamford-Norwalk, CT
#37 Hartford, CT
#52 Worcester, MA
#61 Boston-Cambridge-Newton, MA-NH
#62 Springfield, MA
#88 Providence, RI
WalletHub’s analysts compared the 100 largest metropolitan statistical areas, or MSAs, across 10 key metrics indicating friendliness toward this group. The data set ranges from average revenue growth of women-owned businesses to presence of women’s business centers to industry variety for women-owned firms. Scroll down for the results, expert commentary and a detailed description of our methodology.
Related Slideshow: 20 Cool Small Businesses in RI
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