RALEIGH – Women entrepreneurs have a pretty good chance of achieving success in the Raleigh-Cary metro according to a new report from financial information site SmartAsset.

The capital city area stands 12th in an index ranking the country’s top 50 metro areas. That’s the same as last year.

Charlotte also made the list but soared past Raleigh-Cary to 8th place, up from 22nd in the 2019 survey.

Some 20% of businesses in Raleigh-Cary are owned by women, including 2.42% of businesses with 500 or more employees.

Survival rate for new businesses is nearly 80%, SmartAsset adds.

Charlotte soars 14 spots to No. 8 on ‘Best Places for Women Entrepreneurs’ list

However pay for women lags men at a 75.65% ratio.

Minneapolis-St. Paul led the list.

Rankings are based on several criteria:

Number of female-owned businesses

  • Percentage of businesses owned by women
  • Women-owned businesses as a percentage of businesses with greater than 500 employees
  • New businesses as a percentage of total businesses
  • New business applications in 2020 relative to previous years
  • Percentage of businesses that had profits or broke even
  • Startup survival rate
  • Women-to-men pay ratio
  • 2019 female unemployment rate
  • September 2020 unemployment rate

You can read the full report online.

SmartAsset graphic