Tri-Cities scores low in rankings for women-owned businesses


The Tri-Cities scored at the bottom – but not the absolute bottom – of metro areas ranked for women-owned businesses, according to NerdWallet’s number crunchers.

Here’s how they explained their study: “To understand where women business owners can have the most success, NerdWallet analyzed 289 metropolitan areas in the U.S. with 10,000 or more businesses that range in size from sole proprietorships to larger businesses and companies. We used eight metrics to evaluate those places and focused on the following questions:

“Are women-owned businesses successful here? We looked at the percentage of businesses owned by women, percentage of those businesses with paid employees and the average revenue of businesses owned by women in each place. About 23 million of the 28 million total U.S. small businesses are one- or two-person enterprises that don’t typically have employees.
“What is the business climate like? We considered the number of businesses per 100 people and the percentage of women with a bachelor’s degree or higher in each place.

“Is the area’s economy strong? We evaluated the median income for women, balanced by median monthly housing costs to reflect the cost of living in each place. We also looked at the unemployment rate for each place.”

Some of the takeaways on the local rankings:
Kingsport-Bristol had a national ranking of 262 out of 289 metro areas.
Johnson City ranked 280.

There were women-owned businesses in Kingsport-Bristol than Johnson City, but more of the Johnson City businesses had paid employees.

Johnson City MSA businesses had a higher average revenue than those in Kingsport Bristol.

Johnson City MSA women business owners had a higher education level
a higher median income than those in Kingsport-Bristol but paid more for housing.

Key takeaways nationwide: California stands out for states with women business owners and smaller metro areas are a much higher revenue for businesses owned by women than those in large areas.

The full report, an interactive comparison and all the rankings can be found at
http://www.nerdwallet.com/blog/small-business/best-places-women-owned-businesses/

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