If you’re a woman in business, Hartford is among the best places in the nation to be. That’s according to a new analysis by the website ShareFile, which ranked Hartford as the third best place in the U.S. for businesswomen. Hartford ranked seventh a year ago.
The “Businesswomen Power City Index” was developed by evaluating the 50 largest cities in the U.S. to determine where the best locations are for women to achieve business success, according to ShareFile. The index ranks cities based on the percentage of women-owned businesses, executive jobs held by women, women vs. men wage gaps and the buying power of women, which is based on the cost of living and the average wages earned by women.
Hartford has jumped four places from 2017, as a result of a higher percentage of women-owned businesses (up 1.4%), according to the analysis. Hartford’s ranking in the individual categories was:
- 3rd (down from 2nd) in women’s buying power: 119
- 6th (same as last year) in the percentage of women business executives: 31.9%
- 16th (up from 22nd) in the wage gap between women and men: 18.1%
- 31st (up from 42nd) in the percentage of women-owned businesses: 20.4%
The website points out that Hartford is home to the Women’s Business Center, located at the University of Hartford, which supports female entrepreneurs across the city and the state, offering advice, training, and events for women looking to expand their business.
Hartford is the only New England city in the top 20. Providence, in the top 10 a year ago, fell out of the top 20.
Just ahead of Hartford, and retaining the top two positions in the ranking, were Baltimore and Tampa. Rounding out the top 15 were Washington DC, Jacksonville, Raleigh, Denver, Orlando, Miami, Austin, Virginia Beach, Las Vegas, Sacramento, Los Angeles and Atlanta. Aside from the top two, no other city in the top 20 has remained in the same position as a year ago.
The analysis relies on data from four main sources, including the U.S. Census 2016 Annual Survey of Entrepreneurs, U.S Census Bureau 2015 American Community Survey 1-Year Estimates, Sperling’s Best Places and the Equal Employment Opportunities Commission. ShareFile is a cloud-based file sharing service, a Citrix Systems company, based in Raleigh.