FARGO-North Dakota is the best state for women entrepreneurs, according to a new report that also gave high marks to Minnesota.
A new report from small business lending website Fundera, released last week, compared the 50 states based on 10 factors, including the percentage of women-owned businesses, the percentage of women-owned firms in business for more than 11 years and the average revenue and five-year growth of women-owned businesses in each state.
North Dakota took the No. 1 spot overall while also ranking second for its five-year growth in average revenue of women-owned businesses (119.4 percent). The state ranked third in the average revenue of such businesses, $200,872, and fourth for its 14.3 percent rate of women-owned businesses with paid employees.
Minnesota, meanwhile, ranked fourth overall. The state ranked sixth for its percentage of women with a bachelor's degree or higher (22.7 percent), 11th for its five-year average revenue growth (32.2 percent) and 16th for its overall unemployment rate (4 percent).
South Dakota ranked second in the report, which is available online at www.fundera.com/blog/best-states-women-entrepreneurs.