The Top States for Women in Business This Year

August 15, 2024

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While the number of women-owned businesses and women in leadership positions are still fewer compared to men, they have heavily increased in recent years. According to 2024 statistics shared by entrepreneur and finance expert Luisa Zhou, the amount of women-owned businesses has increased by 114% in the last twenty years and 42% of all U.S. businesses are currently owned by women.

However, less than a third of women hold leadership positions in the U.S., according to data from McKinsey. Related studies also show that in 2024 women are still more likely than men to face promotion gaps and lower salaries.

In light of these trends, experts from Wix recently conducted a study to see which states were the best for aspiring female entrepreneurs who want to start a business of their own. Business building experts from Wix analyzed several factors for the study such as female-to-male ratios within management occupations, top executive roles and financial managers as well as business survival rates and population numbers to figure out which states offered the most opportunities for aspiring female entrepreneurs.

The study found that Vermont was the best state for women in business roles, with a score of 8.91 out of 10. Although the state has a low business survival rate, it excels in gender representation in the workplace. Ohio was found to be the worst state for female entrepreneurs due to its low number of business startups and lack of workplace gender representation.

Here is the complete list of data from Wix’s recent study on which states are the best and worst for women in business.

Looking for inspiration? Here are 10 of the richest self-made women in the U.S.

Vermont

Management occupations (female-to-male ratio): 0.94
Top executives (female-to-male ratio): 0.67
Financial managers (female-to-male ratio): 2.49
Total number of companies per 100,000 people: 2330
Business survival rate: 50.75%
Population (2023): 647,464
Female management occupations per 100,000 people: 3,365
Female top executives per 100,000 people: 318
Female financial managers per 100,000 people: 322
Score: 8.91

Massachusetts

Management occupations (female-to-male ratio): 0.78
Top executives (female-to-male ratio): 0.54
Financial managers (female-to-male ratio): 1.11
Total number of companies per 100,000 people: 2509
Business survival rate: 70.46%
Population (2023): 7,001,399
Female management occupations per 100,000 people: 3,042
Female top executives per 100,000 people: 374
Female financial managers per 100,000 people: 322
Score: 8.68

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Rhode Island

Management occupations (female-to-male ratio): 0.85
Top executives (female-to-male ratio): 0.54
Financial managers (female-to-male ratio): 1.23
Total number of companies per 100,000 people: 2420
Business survival rate: 60.56%
Population (2023): 1,095,962
Female management occupations per 100,000 people: 2,897
Female top executives per 100,000 people: 355
Female financial managers per 100,000 people: 290
Score: 8.68

Maryland

Management occupations (female-to-male ratio): 0.84
Top executives (female-to-male ratio): 0.61
Financial managers (female-to-male ratio): 1.73
Total number of companies per 100,000 people: 1,630
Business survival rate: 7891%
Population (2023): 6,180,253
Female management occupations per 100,000 people: 2,977
Female top executives per 100,000 people: 374
Female financial managers per 100,000 people: 301
Score: 8.5

New Mexico

Management occupations (female-to-male ratio): 0.92
Top executives (female-to-male ratio): 0.7
Financial managers (female-to-male ratio): 2.5
Total number of companies per 100,000 people: 1843
Business survival rate: 79.04%
Population (2023): 2,114,371
Female management occupations per 100,000 people: 2,145
Female top executives per 100,000 people: 324
Female financial managers per 100,000 people: 270
Score: 8.45

Oregon

Management occupations (female-to-male ratio): 0.77
Top executives (female-to-male ratio): 0.57
Financial managers (female-to-male ratio): 1.77
Total number of companies per 100,000 people: 2,321
Business survival rate: 78.6%
Population (2023): 4,223,358
Female management occupations per 100,000 people: 2,574
Female top executives per 100,000 people: 271
Female financial managers per 100,000 people: 247
Score: 8.37

Connecticut

Management occupations (female-to-male ratio): 0.78
Top executives (female-to-male ratio): 0.52
Financial managers (female-to-male ratio): 1.28
Total number of companies per 100,000 people: 2,043
Business survival rate: 63.49%
Population (2023): 3,617,176
Female management occupations per 100,000 people: 2,820
Female top executives per 100,000 people: 336
Female financial managers per 100,000 people: 356
Score: 8.34

Colorado

Management occupations (female-to-male ratio): 0.73
Top executives (female-to-male ratio): 0.41
Financial managers (female-to-male ratio): 1.22
Total number of companies per 100,000 people: 2,814
Business survival rate: 70.65%
Population (2023): 5,877,610
Female management occupations per 100,000 people: 3,168
Female top executives per 100,000 people: 354
Female financial managers per 100,000 people: 218
Score: 8.3

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Maine

Management occupations (female-to-male ratio): 0.9
Top executives (female-to-male ratio): 0.49
Financial managers (female-to-male ratio): 1.68
Total number of companies per 100,000 people: 2,252
Business survival rate: 56.36%
Population (2023): 1,395,722
Female management occupations per 100,000 people: 2,722
Female top executives per 100,000 people: 250
Female financial managers per 100,000 people: 355
Score: 8.24

Delaware

Management occupations (female-to-male ratio): 0.86
Top executives (female-to-male ratio): 0.48
Financial managers (female-to-male ratio): 0.91
Total number of companies per 100,000 people: 2,278
Business survival rate: 71.86%
Population (2023): 1,031,890
Female management occupations per 100,000 people: 2,738
Female top executives per 100,000 people: 266
Female financial managers per 100,000 people: 370
Score: 8.1

Nevada

Management occupations (female-to-male ratio): 0.85
Top executives (female-to-male ratio): 0.56
Financial managers (female-to-male ratio): 2.04
Total number of companies per 100,000 people: 2,426
Business survival rate: 60.07%
Population (2023): 3,194,176
Female management occupations per 100,000 people: 2,205
Female top executives per 100,000 people: 290
Female financial managers per 100,000 people: 230
Score: 8.08

California

Management occupations (female-to-male ratio): 0.76
Top executives (female-to-male ratio): 0.48
Financial managers (female-to-male ratio): 1.15
Total number of companies per 100,000 people: 3,152
Business survival rate: 86.22%
Population (2023): 38,965,193
Female management occupations per 100,000 people: 2,412
Female top executives per 100,000 people: 301
Female financial managers per 100,000 people: 218
Score: 8.04

Virginia

Management occupations (female-to-male ratio): 0.76
Top executives (female-to-male ratio): 0.53
Financial managers (female-to-male ratio): 1.22
Total number of companies per 100,000 people: 2,082
Business survival rate: 76.535
Population (2023): 8,715,698
Female management occupations per 100,000 people: 2,726
Female top executives per 100,000 people: 313
Female financial managers per 100,000 people: 266
Score: 8.04

Washington

Management occupations (female-to-male ratio): 0.76
Top executives (female-to-male ratio): 0.53
Financial managers (female-to-male ratio): 1.49
Total number of companies per 100,000 people: 2,273
Business survival rate: 53.57%
Population (2023): 7,812,880
Female management occupations per 100,000 people: 2,750
Female top executives per 100,000 people: 301
Female financial managers per 100,000 people: 255
Score: 7.99

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Wyoming

Management occupations (female-to-male ratio): 0.61
Top executives (female-to-male ratio): 0.65
Financial managers (female-to-male ratio): 1.09
Total number of companies per 100,000 people: 2,863
Business survival rate: 71.74%
Population (2023): 584,057
Female management occupations per 100,000 people: 2,409
Female top executives per 100,000 people: 325
Female financial managers per 100,000 people: 226
Score: 7.88

New York

Management occupations (female-to-male ratio): 0.8
Top executives (female-to-male ratio): 0.56
Financial managers (female-to-male ratio): 0.94
Total number of companies per 100,000 people: 1,997
Business survival rate: 81.59%
Population (2023): 19,571,216
Female management occupations per 100,000 people: 2,490
Female top executives per 100,000 people: 302
Female financial managers per 100,000 people: 254
Score: 7.86

New Hampshire

Management occupations (female-to-male ratio): 0.7
Top executives (female-to-male ratio): 0.35
Financial managers (female-to-male ratio): 1.58
Total number of companies per 100,000 people: 2,693
Business survival rate: 59.94%
Population (2023): 1,402,054
Female management occupations per 100,000 people: 2,768
Female top executives per 100,000 people: 244
Female financial managers per 100,000 people: 342
Score: 7.85

New Jersey

Management occupations (female-to-male ratio): 0.71
Top executives (female-to-male ratio): 0.48
Financial managers (female-to-male ratio): 0.83
Total number of companies per 100,000 people: 2,408
Business survival rate: 62.67%
Population (2023): 9,290,841
Female management occupations per 100,000 people: 2,680
Female top executives per 100,000 people: 334
Female financial managers per 100,000 people: 309
Score: 7.77

Hawaii

Management occupations (female-to-male ratio): 0.9
Top executives (female-to-male ratio): 0.63
Financial managers (female-to-male ratio): 1.33
Total number of companies per 100,000 people: 1,773
Business survival rate: 67.65%
Population (2023): 1,435,138
Female management occupations per 100,000 people: 2,426
Female top executives per 100,000 people: 323
Female financial managers per 100,000 people: 212
Score: 7.7

Missouri

Management occupations (female-to-male ratio): 0.71
Top executives (female-to-male ratio): 0.45
Financial managers (female-to-male ratio): 1.87
Total number of companies per 100,000 people: 2,532
Business survival rate: 71.63%
Population (2023): 6,196,156
Female management occupations per 100,000 people: 2,192
Female top executives per 100,000 people: 228
Female financial managers per 100,000 people: 288
Score: 7.69

Today’s Top Offers

Iowa

Management occupations (female-to-male ratio): 0.68
Top executives (female-to-male ratio): 0.67
Financial managers (female-to-male ratio): 1.66
Total number of companies per 100,000 people: 1,701
Business survival rate: 79.52%
Population (2023): 3,207,004
Female management occupations per 100,000 people: 2,373
Female top executives per 100,000 people: 317
Female financial managers per 100,000 people: 242
Score: 7.65

Arizona

Management occupations (female-to-male ratio): 0.78
Top executives (female-to-male ratio): 0.52
Financial managers (female-to-male ratio): 1.57
Total number of companies per 100,000 people: 1,674
Business survival rate: 67.92%
Population (2023): 7,431,344
Female management occupations per 100,000 people: 2,379
Female top executives per 100,000 people: 279
Female financial managers per 100,000 people: 282
Score: 7.63

Florida

Management occupations (female-to-male ratio): 0.72
Top executives (female-to-male ratio): 0.46
Financial managers (female-to-male ratio): 1.12
Total number of companies per 100,000 people: 2,603
Business survival rate: 68.57%
Population (2023): 22,610,726
Female management occupations per 100,000 people: 2,331
Female top executives per 100,000 people: 305
Female financial managers per 100,000 people: 244
Score: 7.61

Georgia

Management occupations (female-to-male ratio): 0.78
Top executives (female-to-male ratio): 0.53
Financial managers (female-to-male ratio): 1.4
Total number of companies per 100,000 people: 1,986
Business survival rate: 68.68%
Population (2023): 11,029,227
Female management occupations per 100,000 people: 2,401
Female top executives per 100,000 people: 292
Female financial managers per 100,000 people: 225
Score: 7.56

Illinois

Management occupations (female-to-male ratio): 0.75
Top executives (female-to-male ratio): 0.49
Financial managers (female-to-male ratio): 1.17
Total number of companies per 100,000 people: 1,635
Business survival rate: 79.74%
Population (2023): 12,549,689
Female management occupations per 100,000 people: 2,528
Female top executives per 100,000 people: 316
Female financial managers per 100,000 people: 271
Score: 7.55

North Carolina

Management occupations (female-to-male ratio): 0.78
Top executives (female-to-male ratio): 0.5
Financial managers (female-to-male ratio): 1.1
Total number of companies per 100,000 people: 1,823
Business survival rate: 69.88%
Population (2023): 10,835,491
Female management occupations per 100,000 people: 2,512
Female top executives per 100,000 people: 302
Female financial managers per 100,000 people: 259
Score: 7.55

Today’s Top Offers

Alaska

Management occupations (female-to-male ratio): 0.85
Top executives (female-to-male ratio): 0.73
Financial managers (female-to-male ratio): 2.82
Total number of companies per 100,000 people: 1,539
Business survival rate: 68.12%
Population (2023): 733,406
Female management occupations per 100,000 people: 2,440
Female top executives per 100,000 people: 244
Female financial managers per 100,000 people: 204
Score: 7.48

North Dakota

Management occupations (female-to-male ratio): 0.59
Top executives (female-to-male ratio): 0.22
Financial managers (female-to-male ratio): 1.44
Total number of companies per 100,000 people: 2,336
Business survival rate: 82.48%
Population (2023): 783,926
Female management occupations per 100,000 people: 2,360
Female top executives per 100,000 people: 125
Female financial managers per 100,000 people: 311
Score: 7.19

Nebraska

Management occupations (female-to-male ratio): 0.58
Top executives (female-to-male ratio): 0.45
Financial managers (female-to-male ratio): 0.97
Total number of companies per 100,000 people: 2,211
Business survival rate: 85.8%
Population (2023): 1,978,379
Female management occupations per 100,000 people: 2,233
Female top executives per 100,000 people: 257
Female financial managers per 100,000 people: 268
Score: 7.04

Idaho

Management occupations (female-to-male ratio): 0.64
Top executives (female-to-male ratio): 0.38
Financial managers (female-to-male ratio): 1.72
Total number of companies per 100,000 people: 2,796
Business survival rate: 60.35%
Population (2023): 1,964,726
Female management occupations per 100,000 people: 2,143
Female top executives per 100,000 people: 176
Female financial managers per 100,000 people: 254
Score: 6.99

Michigan

Management occupations (female-to-male ratio): 0.76
Top executives (female-to-male ratio): 0.48
Financial managers (female-to-male ratio): 1.6
Total number of companies per 100,000 people: 1,470
Business survival rate: 76.26%
Population (2023): 10,037,261
Female management occupations per 100,000 people: 2,246
Female top executives per 100,000 people: 250
Female financial managers per 100,000 people: 256
Score: 6.93

Oklahoma

Management occupations (female-to-male ratio): 0.7
Top executives (female-to-male ratio): 0.45
Financial managers (female-to-male ratio): 2.58
Total number of companies per 100,000 people: 1,739
Business survival rate: 74.3%
Population (2023): 4,053,824
Female management occupations per 100,000 people: 2,014
Female top executives per 100,000 people: 229
Female financial managers per 100,000 people: 259
Score: 6.89

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Minnesota

Management occupations (female-to-male ratio): 0.72
Top executives (female-to-male ratio): 0.49
Financial managers (female-to-male ratio): 1.02
Total number of companies per 100,000 people: 1,514
Business survival rate: 77.21%
Population (2023): 5,737,915
Female management occupations per 100,000 people: 2,581
Female top executives per 100,000 people: 287
Female financial managers per 100,000 people: 239
Score: 6.76

Wisconsin

Management occupations (female-to-male ratio): 0.74
Top executives (female-to-male ratio): 0.44
Financial managers (female-to-male ratio): 1.42
Total number of companies per 100,000 people: 1,823
Business survival rate: 68.48%
Population (2023): 5,910,955
Female management occupations per 100,000 people: 2,331
Female top executives per 100,000 people: 235
Female financial managers per 100,000 people: 234
Score: 6.75

South Carolina

Management occupations (female-to-male ratio): 0.75
Top executives (female-to-male ratio): 0.44
Financial managers (female-to-male ratio): 1.48
Total number of companies per 100,000 people: 1,900
Business survival rate: 62.39%
Population (2023): 5,373,555
Female management occupations per 100,000 people: 2,126
Female top executives per 100,000 people: 254
Female financial managers per 100,000 people: 208
Score: 6.62

Tennessee

Management occupations (female-to-male ratio): 0.73
Top executives (female-to-male ratio): 0.44
Financial managers (female-to-male ratio): 1.24
Total number of companies per 100,000 people: 1,791
Business survival rate: 59.53%
Population (2023): 7,126,489
Female management occupations per 100,000 people: 2,255
Female top executives per 100,000 people: 259
Female financial managers per 100,000 people: 229
Score: 6.55

Arkansas

Management occupations (female-to-male ratio): 0.68
Top executives (female-to-male ratio): 0.46
Financial managers (female-to-male ratio): 1.48
Total number of companies per 100,000 people: 1,811
Business survival rate: 72.45%
Population (2023): 3,067,732
Female management occupations per 100,000 people: 1,771
Female top executives per 100,000 people: 199
Female financial managers per 100,000 people: 257
Score: 6.44

Texas

Management occupations (female-to-male ratio): 0.69
Top executives (female-to-male ratio): 0.4
Financial managers (female-to-male ratio): 1.23
Total number of companies per 100,000 people: 1,700
Business survival rate: 75.02%
Population (2023): 30,503,301
Female management occupations per 100,000 people: 2,234
Female top executives per 100,000 people: 251
Female financial managers per 100,000 people: 238
Score: 6.34

Today’s Top Offers

Mississippi

Management occupations (female-to-male ratio): 0.75
Top executives (female-to-male ratio): 0.51
Financial managers (female-to-male ratio): 2.36
Total number of companies per 100,000 people: 1,332
Business survival rate: 72.41%
Population (2023): 2,939,690
Female management occupations per 100,000 people: 1,792
Female top executives per 100,000 people: 176
Female financial managers per 100,000 people: 234
Score: 6.3

Pennsylvania

Management occupations (female-to-male ratio): 0.72
Top executives (female-to-male ratio): 0.45
Financial managers (female-to-male ratio): 1.11
Total number of companies per 100,000 people: 1,602
Business survival rate: 72.18%
Population (2023): 12,961,683
Female management occupations per 100,000 people: 2,224
Female top executives per 100,000 people: 250
Female financial managers per 100,000 people: 244
Score: 6.26

Utah

Management occupations (female-to-male ratio): 0.54
Top executives (female-to-male ratio): 0.32
Financial managers (female-to-male ratio): 0.94
Total number of companies per 100,000 people: 2,570
Business survival rate: 66.36%
Population (2023): 3,417,734
Female management occupations per 100,000 people: 2,206
Female top executives per 100,000 people: 234
Female financial managers per 100,000 people: 189
Score: 6.23

Kentucky

Management occupations (female-to-male ratio): 0.77
Top executives (female-to-male ratio): 0.43
Financial managers (female-to-male ratio): 1.52
Total number of companies per 100,000 people: 1,607
Business survival rate: 72.96%
Population (2023): 4,526,514
Female management occupations per 100,000 people: 2,031
Female top executives per 100,000 people: 221
Female financial managers per 100,000 people: 189
Score: 6.21

Kansas

Management occupations (female-to-male ratio): 0.64
Top executives (female-to-male ratio): 0.31
Financial managers (female-to-male ratio): 1.27
Total number of companies per 100,000 people: 1,923
Business survival rate: 73.99%
Population (2023): 2,940,546
Female management occupations per 100,000 people: 2,246
Female top executives per 100,000 people: 208
Female financial managers per 100,000 people: 225
Score: 6.2

West Virginia

Management occupations (female-to-male ratio): 0.85
Top executives (female-to-male ratio): 0.56
Financial managers (female-to-male ratio): 1.41
Total number of companies per 100,000 people: 1,509
Business survival rate: 64.2%
Population (2023): 1,770,071
Female management occupations per 100,000 people: 1,779
Female top executives per 100,000 people: 205
Female financial managers per 100,000 people: 161
Score: 6.18

Today’s Top Offers

Alabama

Management occupations (female-to-male ratio): 0.74
Top executives (female-to-male ratio): 0.49
Financial managers (female-to-male ratio): 1.65
Total number of companies per 100,000 people: 1,510
Business survival rate: 69.28%
Population (2023): 5,108,468
Female management occupations per 100,000 people: 1,805
Female top executives per 100,000 people: 209
Female financial managers per 100,000 people: 211
Score: 6.1

Louisiana

Management occupations (female-to-male ratio): 0.74
Top executives (female-to-male ratio): 0.41
Financial managers (female-to-male ratio): 1.39
Total number of companies per 100,000 people: 1,554
Business survival rate: 78.38%
Population (2023): 4,573,749
Female management occupations per 100,000 people: 1,888
Female top executives per 100,000 people: 208
Female financial managers per 100,000 people: 179
Score: 5.79

Indiana

Management occupations (female-to-male ratio): 0.66
Top executives (female-to-male ratio): 0.44
Financial managers (female-to-male ratio): 1.68
Total number of companies per 100,000 people: 1,391
Business survival rate: 69.08%
Population (2023): 6,828,199
Female management occupations per 100,000 people: 2,048
Female top executives per 100,000 people: 238
Female financial managers per 100,000 people: 188
Score: 5.73

South Dakota

Management occupations (female-to-male ratio): 0.46
Top executives (female-to-male ratio): 0.33
Financial managers (female-to-male ratio): 0.97
Total number of companies per 100,000 people: 2,142
Business survival rate: 61.02%
Population (2023): 919,318
Female management occupations per 100,000 people: 2,035
Female top executives per 100,000 people: 169
Female financial managers per 100,000 people: 240
Score: 5.71

Ohio

Management occupations (female-to-male ratio): 0.71
Top executives (female-to-male ratio): 0.37
Financial managers (female-to-male ratio): 1.04
Total number of companies per 100,000 people: 1,339
Business survival rate: 76.55%
Population (2023): 11,785,935
Female management occupations per 100,000 people: 2,241
Female top executives per 100,000 people: 220
Female financial managers per 100,000 people: 227
Score: 5.51

^{Photo disclaimer: Any photos are for illustrative purposes only. The closest major city outside of the city mentioned it the article may have been used.}

^{Data was sourced from Wix and is accurate as of July 10, 2024.}

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