London one of the top five cities for women entrepreneurs

New reseach shows

Research, released today by Dell Technologies, has revealed the top 50 global cities for fostering high-potential women entrepreneurs (HPWE), with London ranked third. The 2017 Women Entrepreneur Cities Index ranks cities on their ability to attract and foster growth of women-owned firms, based on access to five important city characteristics including capital, technology, talent, culture and markets.

With only two cities in Europe within the top ten, London is consistently ranked in the top 5 for having both a suitable Operating Environment and Enabling Environment.

The ranked top twenty cities are:

  1. New York City
  2. Bay Area
  3. London
  4. Boston
  5. Stockholm
  6. Los Angeles
  7. Washington, D.C.
  8. Singapore
  9. Toronto
  10. Seattle
  11. Sydney
  12. Paris
  13. Chicago
  14. Minneapolis
  15. Austin
  16. Hong Kong
  17. Melbourne
  18. Atlanta
  19. Amsterdam
  20. Portland (OR)

With their contribution of £3.51 billion to the UK economy, creating and fostering an environment for women entrepreneurs is more important than ever. Globally, women’s entrepreneurship rates are growing more than 10 percent each year and women are as likely as men – and even more likely than men - to start businesses in many markets.

Speaking at the 8th annual Dell Women Entrepreneur Network Summit, EVP and chief customer officer at Dell, Karen Quintos said: “Globally, women’s entrepreneurship rates are growing more than 10 percent each year. In fact, women are as likely or more likely than men to start businesses in many markets. However, financial, cultural and political barriers can limit the success of these businesses.

By arming city leaders and policymakers with data-driven research and clear calls to action, we can collectively improve the landscape for high-potential women entrepreneurs, which in turn dramatically lifts a city’s economic prospects – as what is good for women is good for the economy.”

Building on the past five years of Dell’s research on HPWE, cities were ranked on five characteristics: capital, technology, talent, culture and markets. These pillars were organised into two groups – operating environment and enabling environment. The overall rating is based on 72 indicators; 45 of these, nearly two-thirds, have a gender-based component. Individual indicators were weighted based on four criteria: relevance, quality of underlying data, uniqueness in the index and gender component.

 

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