Map shows best and worst states for women in business

The Northeast and West Coast regions of the U.S. are among the best areas for women looking to climb the corporate ladder, according to a new data analysis from website builder Wix.com.

Wix analyzed female-to-male ratios across management occupations, top executives, and financial managers as well as business survival rates and more, to assess which states offer the most opportunities for aspiring female entrepreneurs.

States in the Northeast, such as Massachusetts, Connecticut and Maine, all scored highly, as did Washington, Oregon and California on the other side of the country.

More From Newsweek Vault: Average Business Loan Rates

The map below shows the best and worst states for women in business. Hover over the interactive map to see each state’s score out of 10.

Vermont takes the crown as the best state for female entrepreneurs, boasting an impressive final score of 8.91/10.

More From Newsweek Vault: Compare Top Small-Business Loans for Women

Despite a relatively low business survival rate (50.75 percent), Vermont excels in workplace gender representation. The state has over two female financial managers for every male and the highest rate of women in management (0.94 per male) among all states studied – suggesting that Vermont is a prime destination for women pursuing progression in business, according to Wix.

As of January 2024, there were 3,432 women-led businesses across the state, according to the Vermont Women’s Fund

Massachusetts and Rhode Island tie for second place with a commendable overall score of 8.68/10. Despite both states boasting a significantly higher business survival rate than Vermont – 70.46 percent and 60.56 percent, respectively – they fell short in other key areas according to Wix.

Massachusetts has 1.11 female financial managers for every male, but gender equity in the C-suite is less favorable, with only 0.78 female managers and 0.54 women in top executive positions for every male counterpart according to Wix.

Rhode Island also sees women excel in finance positions with female financial managers outpacing their male counterparts at a ratio of 1.23, while the women-to-men ratio in top executive roles stands at 0.68 according to Wix.

Maryland claims fourth place with an impressive final score of 8.50/10. Aspiring entrepreneurs can feel confident starting a business here, thanks to high survival rates of 78.91 percent according to Wix.

New Mexico rounds off the top five states for female entrepreneurs with a final score of 8.45/10, showcasing strong ratios of women-to-men in management roles (0.92) and boasts the third highest female-to-male ratio among financial managers (2.50), according to Wix.

Top Ten States for Women in Business

1. Vermont: 8.91
2. Massachusetts: 8.68
3. Rhode Island: 8.68
4. Maryland: 8.50
5. New Mexico: 8.45
6. Oregon: 8.37
7. Connecticut: 8.34
8. Colorado: 8.30
9. Maine: 8.24
10. Delaware: 8.10

Wix.com also revealed that Ohio takes the title of the worst state for aspiring female entrepreneurs.

The state’s low number of business startups – 1,339 per 100,000 people – combined with a disappointing women-to-men ratio of 0.37 in top executive roles, contributes to its dismal final score of 5.51/10 according to Wix.

South Dakota follows closely behind with a score of 5.71/10, with the female-to-male ratio for top executive roles a mere 0.33; and only slightly better for management roles at 0.46 according to Wix.com.

In addition, South Dakota was among the six states that lag behind even in financial manager roles, with a female-to-male ratio of less than one – which is alongside New Jersey, Delaware, New York, Utah, and Nebraska, according to Wix.

Indiana lands in third place with a final score of 5.73/10. While the state provided relatively better gender equality for financial managers (1.68) and top executives (0.44) compared to Louisiana – ranked fourth worst – Indiana’s overall score is dragged down by its business survival rate, which is nearly 10 per cent lower at 69.08 per cent according to Wix.com.

California, while not in the top five, is noteworthy for having the highest business survival rate of 86.22 per cent. This statistic highlights the state’s supportive environment for business continuity, a critical factor for any entrepreneur according to Wix.

Do you have a story we should be covering? Do you have any questions about this story? Contact LiveNews@newsweek.com