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Vermont tops in nation for female entrepreneurs, but nearly half of businesses fail

Image by Gerd Altmann from Pixabay

By Michael Bielawski

Vermont has some of the nation’s highest rates of female workers in high workplace positions according to a new study by Wix.com.

Vermont has the highest female-to-male ratio of women in management positions in the nation which is .94 women per male. The Wix.com study states, “Vermont leads as the best state for female entrepreneurs, boasting the highest female-to-male ratio in management roles.”

However, further analysis reveals that nearly half of those businesses begun by women aren’t surviving.

The next highest rate in the country is New Mexico with .92 women per male, and Maine is third at .9.

Other highlights for Vermont include there are .62 women in management positions for every male position. Only Rhode Island and New Mexico with .68 and .70 respectively have higher rates of female managers.

There is also a category for the total number of companies per 100K people since 2014, and Vermont has 2,330, which puts Vermont seventh among the study’s top 15 overall for women in business. The high is California with 3,152 and the low is Maryland with 1,630.

The report overall states, “Vermont takes the crown as the best state for female entrepreneurs, boasting an impressive final score of 8.91/10. Despite a relatively low business survival rate (50.75%), Vermont excels in workplace gender representation.”

It continues, “The state has over two female financial managers for every male and the highest rate of women in management (0.94 per male) among all states studied – suggesting that Vermont is a prime destination for women pursuing progression in business. As of January 2024, a recent survey revealed that there were 3,432 women-led businesses across the state.”

The second highest rate of failure?

Regarding the category of Business Survival Rate, among the top 15 states for women to hold high positions, Vermont has the lowest rate of survival for its businesses, with just 50.75 of its businesses surviving.

The International Centre for Trade and Sustainable Development considers Vermont the second worst state in the nation to start a business.

They state, “Vermont is a beautiful place to visit to watch the leaves change color, but it’s not a great place to start a business and make money. In large part, this is due to its expensive environment that makes it a second-worst state for starting a business. It has a high cost of living, as well as high tax rates and business startup costs.”

The media show Vermont Conversation recently hosted a panel of some of Vermont’s business leaders, including Vermont State Treasurer Mike Pieciak, the executive director of the Vermont Futures Project Kevin Chu, and others. The Brattleboro Reformer noted that overall, the panel did not offer the best assessment for Vermont as a business-friendly state.

The report states, “All panelists agreed that the current housing crisis is perhaps the most pressing of all issues facing Vermonters at this time. With an aging population, an aging workforce, a high cost of living and tax burden, and not enough affordable housing, Vermont is in dire need of young professionals – people of working age that can contribute to the economy and to the tax base.”

Contrary to Vermont, California claims the highest business survival rate at 86.22%.

Other findings

The study also highlights the 15 worst states for women to get into business leadership positions. The lowest-ranking state on the list is Ohio, however, their overall business survival rate is still much higher than Vermont’s at 76.55%.

The study found that for the most part financial manager roles had higher levels of gender equality compared with other positions.

The author is a writer for the Vermont Daily Chronicle

# contentMap.en
Vermont tops in nation for female entrepreneurs, but nearly half of businesses fail

Image by Gerd Altmann from Pixabay

By Michael Bielawski

Vermont has some of the nation’s highest rates of female workers in high workplace positions according to a new study by Wix.com.

Vermont has the highest female-to-male ratio of women in management positions in the nation which is .94 women per male. The Wix.com study states, “Vermont leads as the best state for female entrepreneurs, boasting the highest female-to-male ratio in management roles.”

However, further analysis reveals that nearly half of those businesses begun by women aren’t surviving.

The next highest rate in the country is New Mexico with .92 women per male, and Maine is third at .9.

Other highlights for Vermont include there are .62 women in management positions for every male position. Only Rhode Island and New Mexico with .68 and .70 respectively have higher rates of female managers.

There is also a category for the total number of companies per 100K people since 2014, and Vermont has 2,330, which puts Vermont seventh among the study’s top 15 overall for women in business. The high is California with 3,152 and the low is Maryland with 1,630.

The report overall states, “Vermont takes the crown as the best state for female entrepreneurs, boasting an impressive final score of 8.91/10. Despite a relatively low business survival rate (50.75%), Vermont excels in workplace gender representation.”

It continues, “The state has over two female financial managers for every male and the highest rate of women in management (0.94 per male) among all states studied – suggesting that Vermont is a prime destination for women pursuing progression in business. As of January 2024, a recent survey revealed that there were 3,432 women-led businesses across the state.”

The second highest rate of failure?

Regarding the category of Business Survival Rate, among the top 15 states for women to hold high positions, Vermont has the lowest rate of survival for its businesses, with just 50.75 of its businesses surviving.

The International Centre for Trade and Sustainable Development considers Vermont the second worst state in the nation to start a business.

They state, “Vermont is a beautiful place to visit to watch the leaves change color, but it’s not a great place to start a business and make money. In large part, this is due to its expensive environment that makes it a second-worst state for starting a business. It has a high cost of living, as well as high tax rates and business startup costs.”

The media show Vermont Conversation recently hosted a panel of some of Vermont’s business leaders, including Vermont State Treasurer Mike Pieciak, the executive director of the Vermont Futures Project Kevin Chu, and others. The Brattleboro Reformer noted that overall, the panel did not offer the best assessment for Vermont as a business-friendly state.

The report states, “All panelists agreed that the current housing crisis is perhaps the most pressing of all issues facing Vermonters at this time. With an aging population, an aging workforce, a high cost of living and tax burden, and not enough affordable housing, Vermont is in dire need of young professionals – people of working age that can contribute to the economy and to the tax base.”

Contrary to Vermont, California claims the highest business survival rate at 86.22%.

Other findings

The study also highlights the 15 worst states for women to get into business leadership positions. The lowest-ranking state on the list is Ohio, however, their overall business survival rate is still much higher than Vermont’s at 76.55%.

The study found that for the most part financial manager roles had higher levels of gender equality compared with other positions.

The author is a writer for the Vermont Daily Chronicle