The number of women-owned businesses in the U.S. increased 13.6% from 2019 to 2023, but some states perform better for women than others.

Lendio analyzed seven metrics to determine the best states for women entrepreneurs with data from the U.S. Census Bureau, Bureau of Labor Statistics and others. The data showed Washington ranks first for women-owned businesses.

The percentage of women-owned businesses in Washington outpaces every other state at 42% and has the highest percentage of female-owned businesses that earn a revenue of $1 million or more (34%). Other studies have also consistently ranked Washington as a great state for women’s overall economic and social well-being.

Read the full report at https://www.lendio.com/blog/best-states-for-women-small-business-owners/.