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Austin Emerges As Nations Best For Women In Business

AUSTIN, TX — It’s something of an abstraction to think of commerce in a time of pandemic-induced stillness. But once the economic engine starts to hum again, Austin will be poised to be among the best cities for women in business in 2030 based on progress made in the past decade.

The assessment is based on research by TollFreeForwarding ranking 50 major U.S. cities across six criteria, including gender pay gap and economic growth. The reckoning yielded Austin as the best up-and-coming city for women in business in 2030 with the highest overall score.

Austin saw an increase of 1.73 percent in female-owned businesses, according to the findings, second only to San Diego. Here are some other findings related to Austin:

Percentage of women in executive positions: +1.83 percent (26th overall).Female earnings as a percentage of male earnings: +1.5 percent (16th).Future job growth: +46.97 percent (5th).Population growth: +28.9 percent (2nd).Economic growth: +63.625 (4th).

Austin was placed in the top ten cities for no less than four of the ranking factors, researchers noted. Moreover, Austin only positioned outside the top 20 for a single factor — the percentage of women in executive positions. The city’s strongest female-lead data came with the number of businesses owned by women, growing by 1.73 percent to 22.75 percent.

The capital city’s other strong performances were illustrated in the study’s broader economy-based factors. Future job growth, economic growth and population growth show how Austin has become one of the fastest–growing cities in America. “There may be no place better for women become looking to launch a career in business,” the report concluded.

Cindy Y.Lo, CEO and founder of Red Velvet Events, gave TollFreeForwarding some insights into why Austin is a great place to be for female business-owners: “I believe why Austin is so female-business friendly is the city itself has a culture of sharing as opposed to pure competition,: she said. “As an example, I meet and chat with at least two or three new female entrepreneurs a month just to help them get started and share advice so they don’t feel alone on this journey.”

She added: “Plus, we are a college town with a pretty strong ratio of female students. With each graduating class, we have the opportunity to change the narrative and encourage other female students to start a business post-graduation.”

To see the full report, click here.