San Diego - Best Small Business Cities for Women Entrepreneurs - Biz2Credit
San Diego - Best Small Business Cities for Women EntrepreneursMay 05, 2015

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Analysis Examined Markets with the Highest Annual Revenue, Credit Scores and Other Factors

Biz2Credit, the leading online platform for small business finance, has identified San Diego, CA, as the 'Best Small Business City for Women Entrepreneurs in America,' based on a weighted average that includes annual revenue, credit score, age of business (in months), and a proprietary BizAnalyzer score that takes into account cash flow, debt-to-income ratio, and business owners' personal credit scores. San Diego ranked in the top five in two different measurements: average credit score and BizAnalyzer score. It also placed in the top ten for highest average annual revenue.

"Retail trade, an industry typically dominated by female entrepreneurs, is thriving in San Diego," explained Biz2Credit CEO Rohit Arora, one of the nation's leading experts in small business finance, who oversaw the research. "The City of San Diego's Economic Development Division has established many initiatives that women business owners have been taking advantage of to grow their companies. There is a budding technology center, and the city is emerging from the shadow of other booming California cities"

Similar to the national study, Chicago, IL, finished as the "Second City" on the Biz2Credit ranking. The Windy City placed in the Top 5 for BizAnalyzer score and average credit scores and in the Top 10 for highest average annual revenue. Last year, Chicago ranked as the 14th best city for women business owners.

"The Women's Development Center offers one-on-one business counseling at the Small Business Solution Station in Chicago and has been instrumental in the growth of women-owned businesses," suggested Arora, whose company has provided more than $1.2 billion in financing to small and mid-sized businesses since 2007.


New York, the nation's financial hub and a booming technology sector, improved to No. 7 this year on Biz2Credit's Best Small Business Cities for Women Entrepreneurs ranking, up from No. 8 last year.

"High fixed operating costs prevent New York from placing higher on our rankings," Arora explained. "Rent and taxes are high across the city, and businesses are tightly regulated."

The state of California had six cities that ranked in the Top 25, including four in the Top 10. While Texas and Florida each had three areas represented in the Top 25.

"Surprisingly, Baltimore represented the region of the youngest average age of women-owned businesses," explained Arora. "The average age of women-owned businesses in Baltimore in 2014 was just 21 months, despite ranking worse in other financial categories. This shows a sign of growth in the region."

  1. San Diego, CA
  2. Chicago, IL
  3. Riverside-San Bernardino, CA
  4. Washington, D.C. metro
  5. Charlotte, NC
  6. Las Vegas, NV
  7. New York metro area
  8. Portland, OR
  9. Los Angeles, CA
  10. San Jose, CA
  11. Minneapolis, MN
  12. San Francisco, CA
  13. Denver, CO
  14. San Antonio, TX
  15. Tampa-St. Petersburg, FL
  16. Atlanta, GA
  17. Miami, FL
  18. Houston, TX
  19. Orlando, FL
  20. Dallas, TX
  21. Virginia Beach-Norfolk, VA
  22. Baltimore, MD
  23. Phoenix, AZ
  24. Seattle, WA
  25. Cleveland, OH
  26. Sacramento, CA

The Top 25 metro areas by Annual Revenue included Charlotte, the New York metro area, and Denver were at the top of the list.

"Last year Charlotte emerged as a Top 5 Small Business City in America for Women, and it continues to grow," Arora explained.

Top 25 Metro areas with the highest applications in 2014 Average BizAnalyzer Score Average of Age in Months Average Annual Revenue Average Credit Score
Charlotte-Concord-Gastonia, NC-SC 56 43 $1,178,992.43 602
New York-Newark-Jersey City, NY-NJ-PA 59 77 $644,929.65 607
Denver-Aurora-Lakewood, CO 53 58 $585,940.56 609
Washington-Arlington-Alexandria, DC-VA-MD-WV 57 54 $572,566.26 613
Riverside-San Bernardino-Ontario, CA 54 26 $546,695.65 604
San Francisco-Oakland-Hayward, CA 51 54 $545,033.30 635
Houston-The Woodlands-Sugar Land, TX 53 49 $469,586.64 587
San Diego-Carlsbad, CA 56 33 $451,996.75 639
Chicago-Naperville-Elgin, IL-IN-WI 57 36 $431,247.38 628
Las Vegas-Henderson-Paradise, NV 52 27 $385,337.20 610
Los Angeles-Long Beach-Anaheim, CA 55 56 $367,922.87 619
Orlando-Kissimmee-Sanford, FL 48 23 $331,993.57 566
Dallas-Fort Worth-Arlington, TX 47 26 $245,382.62 588
Seattle-Tacoma-Bellevue, WA 48 43 $209,659.86 553
Tampa-St. Petersburg-Clearwater, FL 47 24 $207,231.25 615
Miami-Fort Lauderdale-West Palm Beach, FL 52 29 $200,590.91 606
Minneapolis-St. Paul-Bloomington, MN-WI 51 26 $194,937.50 611
Phoenix-Mesa-Scottsdale, AZ 52 44 $182,256.41 577
Portland-Vancouver-Hillsboro, OR-WA 53 39 $163,875.00 645
Atlanta-Sandy Springs-Roswell, GA 53 29 $145,511.93 608
San Jose-Sunnyvale-Santa Clara, CA 53 33 $134,333.39 634
Sacramento-Roseville-Arden-Arcade, CA 49 65 $116,199.90 566
Baltimore-Columbia-Towson, MD 48 21 $115,117.65 557
Cleveland-Elyria, OH 50 44 $99,787.50 592
Virginia Beach-Norfolk-Newport News, VA-NC 52 30 $76,954.03 584
National Average 50 38 $292,396.77 597

When sorted by Age of Business (in months), Baltimore was the leader, followed by Orlando and Tampa-St. Petersburg with the second and third youngest businesses respectively. Additionally, Miami ranked No. 9 when sorted by youngest businesses, representing three of the top 10 fastest growing regions for startup businesses.

"Florida is no longer just a state for retirement," Arora said. "Low startup costs and the ease of incorporating businesses in Florida make it appealing for entrepreneurs to set up their business in the Sunshine State."

Top 25 Metro areas with the highest applications in 2014 Average BizAnalyzer Score Average of Age in Months Average Annual Revenue Average Credit Score
Baltimore-Columbia-Towson, MD 48 21 $115,117.65 557
Orlando-Kissimmee-Sanford, FL 48 23 $331,993.57 566
Tampa-St. Petersburg-Clearwater, FL 47 24 $207,231.25 615
Minneapolis-St. Paul-Bloomington, MN-WI 51 26 $194,937.50 611
Dallas-Fort Worth-Arlington, TX 47 26 $245,382.62 588
Riverside-San Bernardino-Ontario, CA 54 26 $546,695.65 604
Las Vegas-Henderson-Paradise, NV 52 27 $385,337.20 610
Atlanta-Sandy Springs-Roswell, GA 53 29 $145,511.93 608
Miami-Fort Lauderdale-West Palm Beach, FL 52 29 $200,590.91 606
Virginia Beach-Norfolk-Newport News, VA-NC 52 30 $76,954.03 584
San Jose-Sunnyvale-Santa Clara, CA 53 33 $134,333.39 634
San Diego-Carlsbad, CA 56 33 $451,996.75 639
Chicago-Naperville-Elgin, IL-IN-WI 57 36 $431,247.38 628
Portland-Vancouver-Hillsboro, OR-WA 53 39 $163,875.00 645
Charlotte-Concord-Gastonia, NC-SC 56 43 $1,178,992.43 602
Seattle-Tacoma-Bellevue, WA 48 43 $209,659.86 553
Cleveland-Elyria, OH 50 44 $99,787.50 592
Phoenix-Mesa-Scottsdale, AZ 52 44 $182,256.41 577
Houston-The Woodlands-Sugar Land, TX 53 49 $469,586.64 587
Washington-Arlington-Alexandria, DC-VA-MD-WV 57 54 $572,566.26 613
San Francisco-Oakland-Hayward, CA 51 54 $545,033.30 635
Los Angeles-Long Beach-Anaheim, CA 55 56 $367,922.87 619
Denver-Aurora-Lakewood, CO 53 58 $585,940.56 609
Sacramento-Roseville-Arden-Arcade, CA 49 65 $116,199.90 566
New York-Newark-Jersey City, NY-NJ-PA 59 77 $644,929.65 607
National Average 50 38 $292,396.77 597

When sorted by Credit Score, Portland was the leader, followed by San Diego and San Francisco-Oakland.

Top 25 Metro areas with the highest applications in 2014Average Annual RevenueAverage Credit ScoreAverage of Age in MonthsAverage BizAnalyzer Score
Portland-Vancouver-Hillsboro, OR-WA 53 39 $163,875.00 645
San Diego-Carlsbad, CA 56 33 $451,996.75 639
San Francisco-Oakland-Hayward, CA 51 54 $545,033.30 635
San Jose-Sunnyvale-Santa Clara, CA 53 33 $134,333.39 634
Chicago-Naperville-Elgin, IL-IN-WI 57 36 $431,247.38 628
Los Angeles-Long Beach-Anaheim, CA 55 56 $367,922.87 619
Tampa-St. Petersburg-Clearwater, FL 47 24 $207,231.25 615
Washington-Arlington-Alexandria, DC-VA-MD-WV 57 54 $572,566.26 613
Minneapolis-St. Paul-Bloomington, MN-WI 51 26 $194,937.50 611
Las Vegas-Henderson-Paradise, NV 52 27 $385,337.20 610
Denver-Aurora-Lakewood, CO 53 58 $585,940.56 609
Atlanta-Sandy Springs-Roswell, GA 53 29 $145,511.93 608
New York-Newark-Jersey City, NY-NJ-PA 59 77 $644,929.65 607
Miami-Fort Lauderdale-West Palm Beach, FL 52 29 $200,590.91 606
Riverside-San Bernardino-Ontario, CA 54 26 $546,695.65 604
Charlotte-Concord-Gastonia, NC-SC 56 43 $1,178,992.43 602
Cleveland-Elyria, OH 50 44 $99,787.50 592
Dallas-Fort Worth-Arlington, TX 47 26 $245,382.62 588
Houston-The Woodlands-Sugar Land, TX 53 49 $469,586.64 587
Virginia Beach-Norfolk-Newport News, VA-NC 52 30 $76,954.03 584
Phoenix-Mesa-Scottsdale, AZ 52 44 $182,256.41 577
Sacramento-Roseville-Arden-Arcade, CA 49 65 $116,199.90 566
Orlando-Kissimmee-Sanford, FL 48 23 $331,993.57 566
Baltimore-Columbia-Towson, MD 48 21 $115,117.65 557
Seattle-Tacoma-Bellevue, WA 48 43 $209,659.86 553
National Average 50 38 $292,396.77 597

"Four of the top six regions with the highest credit scores were represented by regions in California," explained Arora. "Silicon Valley has established a reputation for technological innovations and has been a very profitable sector over the last decade. This has translated to higher credit scores in the state."

About the Biz2Credit Best Small Business Cities in America Study

Biz2Credit analyzed 12,000 businesses with less than 250 employees and less than $10 million in annual revenues from across the country that have been in operation for more than 1 year.