Vermont ranked as #5 female founder hotspot, 203K women self-employed

Vermont Business Magazine Vermont ranks 5th in the nation in the number of women starting businesses, according to recruiting firm Lensa. Data on female entrepreneurship rates over the past decade show a general increase in self-employed women. In the last 10 years, about 203k new women are self-employed and make up 41.64% of the total self-employed workers in 2020.

Lensa experts analyzed the data to determine how many women are starting businesses, what increase women have seen in business, and which states are hotspots for female entrepreneurs.

America’s Top 5 Female Founder Hotspots

Rank

State

Total

Man

woman

Women (%)

1

Maine

227

167

60

26.43%

2

Montana

202

156

46

22.77%

3

West Virginia

49

38

11

22.45%

4

New Mexico

235

183

52

22.13%

5

Vermont

162

127

35

21.60%

  • Maine tops the list, known for its maritime history and nature areas, such as Acadia National Park. As of November 2022, there were 227 company founders in the state of Maine, with 26.43% of those being female, the highest of any state in the US.

  • Second is Montana, home to a portion of the Rocky Mountains, the Great Plains, as well as Glacier National Park. As of November 2022, there were 202 company founders in the state, of which 46 were women. While that may seem like a small number, it makes up almost a quarter of the total, at 22.77%.

  • West Virginia, amid the tree-covered Appalachian Mountains, emerges as the third hot spot for female founders. In 2022, there are only 49 company founders in the state. Female founders make up 22.45% of that number.

  • In fourth is New Mexico, which shares a stretch of the Rocky Mountains. New Mexico recorded 235 company founders, in 2022. Of those founders, 22.13% of those were women, making it one of the best states for female entrepreneurship.

  • And in fifth place we have Vermont, known for its natural forest landscape. There were 162 company founders in 2022. Of those founders, 127 were men and 35 were women, the latter making up a total of 21.6% of the total.

The State of Female Entrepreneurship in the US

Despite the great strides women have made in entrepreneurship in recent years, there is still a very wide gap between male and female founders. And with so many industries to choose from, it can be hard to see where you can thrive. But, with the help of our job search engine, we can use job market data to see which roles will best complement your skills.

Also Read :  The wild ride of a college dropout turned internet entrepreneur

According to a survey by Gusto, almost half of the start-ups in the US in 2021 were formed by women, which is a huge increase from the 28% they reported in 2019. However, is this increase sustained through 2022?

We analyzed government data from the Bureau of Labor Statistics to find out how many women are starting businesses, what increase women have seen in business, and which states are hotspots for female entrepreneurs.

Number of Self-Employed Women in the US in the Past 10 Years

Total Women Self-Employed 2011: 3,341,000 | Total Women Self-Employed 2020: 3,544,000 | Number of New Self-Employed Women in Last 10 Years: 203,000

There have been many changes in the number of self-employed women in the United States over the past ten years. In 2011, there were approximately 3.34 million self-employed women in the US, making up a total of 5.1% of the total female workforce. In comparison, there were 5.26 million self-employed men, in the same year, making up 7.2% of the male workforce. In 2011 the general breakdown looked like this; men make up 61.2% and women make up 38.8% of the total self-employed workforce.

In 2016, there was little change in these numbers, as there had been every year between 2011-2020. Data from the Bureau of Labor Statistics shows that in 2016, there were approximately 3.38 million self-employed women in the US, making up 38.7% of the total self-employed workforce, a very small decrease from 2011 numbers. On the other hand, there were 5.36 million self-employed men, which constituted 61.3% of the total self-employed workers in 2016.

More recently, in 2020, there has been little more noticeable change in the numbers and distribution of female and male self-employed workers. Bureau of Labor Statistics data shows that in 2020, there were 3.54 million self-employed women, making up 41.6% of the self-employed workforce in the United States, a 3% increase from 2016. And for men, there were those 3% decreased, making up 58.4% of the total self-employed workers in the US.

Also Read :  Home for Destitute Children’s graves restored in Vermont

In the past 10 years, between 2011 and 2020, there was a 203,000 increase in self-employed women in the United States. In fact, from 2018 to 2020, there has been a steady increase in the number of female self-employment, with the opposite being the case for males.

Growth of Women’s Business in the US Over the Past 10 Years

10-Year Difference of Self-Employed Women: 6.08%

Over the past ten years, between 2011 and 2020, the United States has seen a mix of decline and growth in female self-employed workers. The biggest increase in the last ten years was in 2017 when the number of self-employed women grew by 1.89% from the previous year.

This growth in 2017 will herald the coming years of prosperity for self-employed women. A much-needed change from previous years, as 2014 to 2016 saw a consecutive decline in self-employed women.

After a brief decline in 2018, the next two years will be much better. In 2019 and 2020, there was a growth of 0.79% and 1.5%, respectively, in women in the self-employment workforce. And overall, the ten-year difference among self-employed women is at 6.08% as an increase, which may indicate progress, albeit gradual.

Hotspots of America’s Female Founders

  1. Maine

Male Founder: 167 | Female Founder: 60 | Total Founders: 227 |

Percentage of Female Founders: 26.43%

Maine is a state in the New England region of the US, known for its maritime history and nature areas, such as Acadia National Park. As of November 2022, there were 227 company founders in the state of Maine, with 26.43% of those being female, the highest of any state in the US.

  1. Montana

Male Founder: 156 | Female Founder: 46 | Total Founders: 202 |

Percentage of Female Founders: 22.77%

Montana is a western state, home to a portion of the Rocky Mountains, Great Plains, as well as Glacier National Park. According to Crunchbase, as of November 2022, there were 202 company founders in the state, of which 46 were women. While that may seem like a small number, it makes up almost a quarter of the total, at 22.77%.

  1. West Virginia
Also Read :  School children enjoy the fruits of their tomato harvest

Male Founder: 38 | Female Founders: 11 | Total Founders: 49 |

Percentage of Female Founders: 22.45%

West Virginia, located in the eastern United States, amid the tree-covered Appalachian Mountains, emerged as the third hot spot for female founders. In 2022, there are only 49 company founders in the state. Female founders make up 22.45% of that number.

  1. New Mexico

Male Founder: 183 | Female Founder: 52 | Total Founders: 235 |

Percentage of Female Founders: 22.13%

New Mexico is a southern state that shares its border with Texas, which shares a stretch of the Rocky Mountains. New Mexico recorded 235 company founders, in 2022. Of those founders, 22.13% of those were women, making it one of the best states for female entrepreneurship.

  1. Vermont

Male Founders: 127 | Female Founder: 35 | Total Founders: 162 |

Percentage of Female Founders: 21.60%

Another New England state, we have Vermont, known for its natural forest scenery. According to Crunchbase, there were 162 company founders in 2022. Of those founders, 127 were men and 35 were women, the latter making up a total of 21.6% of the total.

Procedure

To obtain the number of self-employed individuals in the United States, we used Table 32 of the Bureau of Labor Statistics’ women in the labor force databook. We focus on the last ten years of available data, from 2011-2020 in this case. We calculated the increase of self-employed women, to get an idea of ​​the number of new female businesses founded by women. We were able to calculate the year-over-year growth of women in self-employment, and then calculate the total 10-year increase.

Next, we used Crunchbase, filtering by gender, location, and job title – in this case, we used “Founder” for the job title. We then filtered by state to get the total number of founders, then filtered by male and female for each state. Finally, we calculated the number of female founders as a percentage of the total number to rank each state. These numbers were taken from Crunchbase on November 9th, 2022.

Lens. San Francisco, CA, December 2022.

Source

Leave a Reply

Your email address will not be published.