Supportive climate

Minneapolis ranks fourth in a national study on women’s entrepreneurship

By Tom Johnson

Minneapolis is the fourth-best city for women entrepreneurs in the nation, according to a study conducted by NerdWallet, a number-crunching finance group based in California. It examined median income, unemployment, education, and proportion of women-owned business in major cities across the country. According to NerdWallet, women own almost a third of businesses in Minneapolis.

NerdWallet cited Minneapolis's high education, low unemployment, and abundance of nearby advocacy groups for women in the city's high ranking. Among the latter are TeamWomenMN, WomenVenture, and Women's Entrepreneurs of Minnesota (WeMN). The National Association of Women Business Owners also has a very active chapter in Minnesota.

WeMN president Dr. Janel Anderson notes her organization's offerings  including the Mentor Program and Peer Advocacy Group  give women the ability to overcome common barriers to entrepreneurship, such as "access to knowledge, access to capital, perspective, and professional loneliness." (See the interview with Janel Anderson in our blog.)

The programs "help women learn from each others' experiences and mistakes, stay connected with others, and grow their networks," she adds.

The top three spots in the study were San Francisco, Seattle, and Washington, D.C.