Women in America are making great progress in business, but there are still places that need improvement.
Only 30% of incorporated businesses across the top 50 metropolitan areas in the U.S.are led by women, according to a study by personal finance site MagnifyMoney. MagnifyMoney surveyed the 50 largest U.S. cities to find the best places for women who want to be their own boss, launch a business -- or both.
MagnifyMoney ranked the cities based on the following criteria:
- Business income for self-employed women
- Business earnings for self-employed women compared with wage earners.
- The rate of self-employed women and women with incorporated businesses.
- Parity of business ownership between women and men.
Cleveland was the worst ranked city and had a median income of $0 for women-owned businesses.
For a look at some of the other worst ranked cities watch the video above.
And check out the best U.S. cities for women to own a business, according to MagnifyMoney.