New York Is the Friendliest City for Female Entrepreneurs
If you’re a woman planning on entering the world of entrepreneurship, a new report shows that the Big Apple is the place to do it. Of all 50 cities evaluated in an index commissioned by Dell in conjunction with professor David Ricketts of the Technology and Entrepreneurship Center at Harvard, New York City is the friendliest city for businesses owned by women.
Despite ranking high in categories that included markets, talent, capital, culture, and technology, New York still only scored 58.6 out of 100, which means “there’s room for improvement,” according to Jim Diffley, a senior director at IHS, the consulting group that partnered with Dell on the report. New York fared worst in the index's technology category, which examines how things like the internet affect female business owners. According to Diffley, “technology costs were lower in Asian and European cities” than in New York, which “became a marginal deterrent to women entrepreneurs” in that city.
As for why Dell developed the study, Elizabeth Gore, entrepreneur-in-residence, explained that the company “wanted to find out why women-owned businesses scale better in one city than in another one.” (Rounding out the top five were San Francisco, London, Stockholm, and Singapore, with Toronto; Washington, D.C.; Sydney; Paris; and Seattle rounding out the top 10.)
“We wanted to find out why women-owned businesses scale better in one city than in another one,” explains Gore, who says major cities still have a long way to go when it comes to nurturing female-owned businesses. “Even the best cities haven’t cracked the code.”
The next time you visit New York, stay at Sixty Soho and tell us: What do you think a city needs to properly nurture female entrepreneurs?