Wild, Wild West
Wait! The gold rush isn't over yet!
A new study underscores the old adage that the most important
thing in business is location, location, location.
In the top 50 U.S. metropolitan areas, the number of women-owned
firms has increased 33 to 59 percent in the past seven years,
according to a 1999 report by the National Foundation for Women
Business Owners (NFWBO).
Bruce Rosenthal of NFWBO attributes the overall growth to
several factors: the strong economy; an exodus of women from
corporate America; more women entrepreneurs who serve as role
models to their friends, sisters and mothers; and the increasing
amount of data available on women entrepreneurs. "Information
empowers women and makes them realize business ownership is a
viable career option," says Rosenthal.
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The booming high-tech industry on the West Coast, in particular,
has drawn large numbers of women entrepreneurs to the area. Michael
Evans, director of real estate services for Ernst & Young LLP,
points out that many West Coast women, especially in areas like
Silicon Valley and the Microsoft-centric Washington state, opt to
leave high-tech companies to create firms of their own.
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