Across the Yellowhammer State, women are taking the lead in business ownership. At last count, women owned more than 153,000 businesses throughout Alabama. In fact, according to the sixth annual State of Women-Owned Businesses Report, those businesses employ over 111,000 Alabamians and generate nearly $19 billion into the state’s economy.
The growing number of women-owned businesses in Alabama is part of a national trend. Recent data from SCORE shows women-owned businesses are growing 1.5 times faster than the national average, and the trend particularly benefits female business owners of color. A National Women’s Business Council study found Hispanic and black women are dramatically outpacing their Asian and white counterparts in business ownership.
And according to a recent survey by Thumbtack, a local services marketplace that connects customers with skilled professionals, Birmingham is among the best cities in the nation for women to start a business. Ranked No. 3, Birmingham outshines it nearby neighbors Lakeland, Florida at No. 5, and Atlanta, Georgia, ranked No.8.
Alabama came in as the No. 6 best state overall for women to start a business.
To conduct the survey, Thumbtack analysts studied proprietary marketplace data to determine places where women are most optimistic about their prospects (i.e., where they’re happiest running a business) and surveyed over than 20,000 female professionals and business owners from across the country to determine the places where women are happiest running a business. The survey focused on sentiment, pay, and state/city friendliness toward female-owned businesses.
Click here to view the full report.