California Tops States as Best for Women-Owned Businesses

From Business.org:

With Women’s Equality Day coming up on August 26, Business.org wanted to take a look at which states are closest to wage equality. It found that states that are closer to pay equality also have a higher number of women-owned business startups as well.

See the full report here for all the findings and correlations. 

HIGHLIGHTS: 

  • Seven states are the closest to overcoming gender wage gaps. Top states include New York, California, Florida, Texas, Virginia, Vermont and the District of Columbia.
     
  • The top two states overall are California and New York. California ranked #1 for women creating new businesses and second for wage equality at $0.88 for every $1 a white male earns. New York was first for wage equality at $0.89 and #4 for new business creation by women. Not only is it an ethical and moral priority to pay equally, there’s an economic incentive as well.
     
  • In the US overall, women still make just $0.80 on the dollar for what white men make. This is even worse for women of color—Hispanic and black women earn 54 cents and 63 cents to the dollar, respectively, of what white men take home in the United States.
     
  • Women account for more than 40% of new business owners, showing that women are showing their entrepreneurial spirit more and more.
     
  • Utah and Louisiana have the highest wage gap. Women make $.70 on the dollar in both states.
     
  • California, unsurprisingly, has the highest business creation at 125,294. Alaska has the lowest business creation at 1,402.

 

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