A new study shows that West Virginia is among the states ranked worst for female business owners.

According to Clarify Capital, West Virginia is the #1 worst state for women-owned businesses with the largest decrease of -16%.

West Virginia has seen the most significant adverse change in women-owned businesses, with a 16% decrease since 2002.

Best States For Women Owned Businesses:

  1. California
  2. Colorado
  3. New York
  4. Florida
  5. Vermont

Worst States For Women Owned Businesses:

  1. West Virginia
  2. Mississippi
  3. Alabama
  4. Arkansas
  5. Kentucky

According to Clarify Capital, the term “best” and “worst” can be subjective but “best” defined in this study is the states that ranked highest after accounting for the following five variables: percentage of female-owned small businesses, women-to-men pay ratios, female unemployment rates, WOB with $1 million or more in annual revenue, and female-owned companies per 10,000 residents in each state.

Women-owned businesses continue to rise and impact across the country, despite the pandemic, the labor shortage, and a still heavily patriarchal backdrop.

While the feminine entrepreneurial spirit can thrive anywhere, certain states actively encourage and support WOB more than others. Read more at clarifycapital.com.