News & Press: Regional Image

Milwaukee Named No. 5 Out of 100 Best Cities for Female Entrepreneurs

Tuesday, January 8, 2019   (0 Comments)
Posted by: Xernay Aniwar
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Online financial database, WalletHub, ranked the Milwaukee region the fifth best place for women-owned businesses out of the top one hundred metropolitan areas in the country.

While the Milwaukee-Waukesha-West Allis area ranked No.5 overall, it received a total score of 66.44 out of 100. This ‘grade’ was calculated based on key metrics indicating ‘Overall New Business Friendliness,’ ‘Female Entrepreneurship,’ and the perceived ‘Business Climate for Women.’ 

The data for these calculations were pulled from previous surveys conducted by WalletHub, such as one based on information gathered from working mothers in major cities.

While the Milwaukee ranked #2 for best business climate for women (Minneapolis area was named #1), the region’s score was brought down by the area’s ranking toward ‘new business friendliness’ and ‘female entrepreneurship; ranked #30 and #48, respectively.

WalletHub asked experts why these rankings are so important, and why women are less likely than men to be entrepreneurs. Donald Neubaum, a professor of entrepreneurship andstrategy at the Oregon State University College of Business says that the struggle begins with the implicit masculine bias that both men and women have. Neubaum says that this bias “may prevent women from seeing themselves as ‘entrepreneurship material.’”

Another aspect that all the experts agreed on is the worry that women feel when it comes to achieving a family-work life balance. This aspect is something that the state of Wisconsin scores relatively well with, an overall rank of 7 out of 51, according to another WalletHub study.

This ranking is good news for Milwaukee, and encouraging for women who are considering starting their own businesses in the area.

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