MURFREESBORO, Tenn. (WMOT) -- A new study says Tennessee is a hotspot for female entrepreneurs.
WMOT reporting partner Wallethub.com rated three of Tennessee’s largest cities as the best places in the nation for female entrepreneurs to launch a business. The list included the country’s 100 largest metro areas.
Nashville and Chattanooga placed first and second on the list while Memphis ranked fourth and Knoxville came in at number 15.
To rank the cities wallethub used 10 different metrics based on data from the Census Bureau among other sources. Wallethub analyst Jill Gonzalez says Tennessee is getting quite the reputation.
“This is no secret. People have now know for a couple of years that Tennessee is a hotspot for female entrepreneurs. There’s nine accelerator programs that are specifically helping women become entrepreneurs and excel at being entrepreneurs. Pretty much across the board pretty hard to really get any better.”
Gonzalez says the average female entrepreneur is pulling down $1.75 million a year in revenue. She says in most other cities the average is more like $100,000 to $200,000 a year.
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