While the UK capital ranks highly for accessible tech, capital and markets, female entrepreneurs still face financial, cultural and political barriers
London has been ranked as the third-best city in the world for female entrepreneurs to base businesses in, as revealed by Dell’s 2017 Women Entrepreneur Cities (WE Cities) Index.
The index evaluated 50 global cities on their capacity to foster the growth of women-led businesses based on the access they offer to capital, technology, talent, culture and markets. Within these categories, the index explored a range of indicators which highlighted their availability to female business owners.
The UK’s capital city was found to rank in third for its markets and the capital it offers, and came in an impressive second for its technology, a result which saw it tie with Austin, Texas.
In fact, London’s tech scene has consistently attracted record levels of investment, and analysts predict that this will continue despite concerns over Brexit’s impact on the sector.
Taking the WE Cities Index’s overall top spot was New York, followed by the Bay Area in California. Completing the index’s top five were US city Boston in fourth place and Stockholm, Sweden in fifth.
The UK’s second highest entry was Belfast, which came in at number 35.
According to Dell, global female entrepreneurship rates are growing by 10% per year, with women found to be as likely or more likely than men to launch start-ups across many markets. Despite this, female business owners continue to face financial, cultural and political barriers to growth.
However, while female entrepreneurs typically struggle to access the same level of funding as their male counterparts, in recent years the UK has become home to a number of women-led businesses which have successfully attracted high levels of investment.
The top 10 cities for female entrepreneurs are:
- New York City
- Bay Area
- London
- Boston
- Stockholm
- Los Angeles
- Washington, D.C.
- Singapore
- Toronto
- Seattle
Elizabeth Gore, entrepreneur-in-residence at Dell, commented:
“The WE Cities Index can be used as a diagnostic tool to help ensure that lawmakers are enabling women entrepreneurs to succeed. Each of the cities on this list can learn from one another and encourage political change to attract and support women entrepreneurs.
“The resulting change will be felt at not just a city level, but around the world as we develop an ecosystem where all entrepreneurs can thrive regardless of gender.”
Thinking of starting a business in London? Browse our free guides to launching in the capital here.
