Los Angeles has major shortcomings as a place for women to start businesses and succeed with them, according to a study released Monday by personal finance information web site WalletHub.
It ranks a lowly 85th in the nation in the survey’s “Average Revenue Growth of Women-Owned Businesses” category.
The Los Angeles metro area also ranks 70th in the “Overall New-Business Friendliness” category, 59th for its working moms’ ranking and 51st in its gender inequality ranking.
However, not all the news in the 2016 WalletHub survey is bad for enterprising L.A. women. Los Angeles ranks 18th nationally in the percent of women-owned businesses, 21st in average percentage growth of women-owned businesses and 14th for industry variety while the average revenue growth of women-owned L.A. area businesses ranks a fairly respectable 33rd in this year’s findings.
The L.A. region (defined as encompassing Los Angeles, Long Beach and Anaheim) was among 100 U.S. metropolitan statistical areas compared, using 10 different key metrics including new-business friendliness, percentage growth of women-owned businesses, and “working moms” and “gender inequality” rankings.
According to WalletHub’s Richie Bernardo, who reported the findings, location plays a key role in the success of any business, but an even bigger one for women-owned firms, as some areas are better than others at, “encouraging female entrepreneurship and recognizing its value.”
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