North Carolina ranks 2nd best state for women entrepreneurs

The Tar Heel State is the place to be for women interested in owning their own businesses, according to a new report.

New geographic data from a study sponsored by Wells Fargo focused on where and why women-owned businesses flourish or falter.

North Carolina secured the second spot, trailing behind New York.

“North Carolina provides various services, including access to financing, training, and marketing support,” read the study. “The state shows a solid upward trend in the growth of firms. Its employment and revenue share rank it in the top 10 women-owned businesses, significantly contributing to North Carolina’s economy.”

The states that ranked in the top 10 had plenty of initiatives and policies in place that helped boost their ranking.

>>> READ THE GEOGRAPHY PORTION OF THE STUDY BELOW

Specific programs and services tailored towards supporting women-owned businesses and financial assistance including loans and grants were offered in a majority of high-performing states.

Today, 39.1 percent of all U.S. businesses are owned by women, up by 13.6 percent from 2019. A larger report detailing the impact of gender, race, business size and industry will be released in November.

Women Impacting Public Policy, Ventureneer and CoreWoman researched and compiled the report. The organizations collected data from the U.S. Census Bureau, focusing on the number of firms, employment figures and revenue for 2019 and 2023.

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