Texas Ranks as the Best State for Women to Start a Business
It's well-known, women outnumber men in America as they make up 51% of the population. Yet for a good many years, men dominated the U.S. workforce. However, it appears the Pandemic may have changed those numbers according to the latest national Pew Research Report. Today more women are going to work or opening their own businesses.
For the first time in history, more women with college degrees now dominate the workforce in America and Texas. The latest Pew numbers show that 31.3 million women in the workforce have a degree of some kind. At the same time, men's numbers are slipping down to 30.5 million men with a degree. The best part is that women are NOT slowing down and the gap is widening.
All that being said, there is bad news and good news. The bad news is that the Wallet-Hub folks recently released their latest study findings and Texas ranked as one of the worst states for women in general.
The Wallet-Hub study took into consideration:
1-Median income for women (pay scale)
2-Womens' unemployment rate (adjusted for cost of living)
3-Job security (women employed from year to year)
4-Medical insurance (and unaffordability of doctor’s visits)
5-Number of women-owned businesses
6-High school graduation rate
7-Friendliness toward working mothers
9-Number of women voting in the Presidential Election
10-Total number of females in the state age 18 or older
Source: Wallet-Hub.com. Taking the pandemic into consideration the above numbers really do change things.
While the numbers may show Texas as one of the worst states for providing medical insurance and having enough medical, doctors, and services for women. The stats show that more women in Texas, politically, ride the elephant rather than the donkey. While Texas may seem unfriendly towards females, the truth is that more and more women are choosing to move to Texas.
I saved the best news for last, Texas is a GREAT state for woman-owned businesses, and here's why. The Riveter Entrepreneurship research revealed that "Texas is the Best State in America for Women Entrepreneurs." Here are the stats and findings:
LOOK: Here Is Why Texas Is Good For Woman-Owned Businesses
One final thought on the women of Texas and business. The Texas Tech Small Business Development Centers (SBDC) exist throughout Texas to assist those women that want to open their own local businesses. If the trend continues I believe that more women will be opening new businesses in Texas and succeeding.