News Summary
Memphis has been identified as the only major U.S. city where women own more small businesses than men, with a female-to-male ownership ratio of 1.01 to 1. This achievement highlights the city’s commitment to supporting gender equity in entrepreneurship. Local initiatives provide essential resources for women entrepreneurs, fostering an inclusive business environment. In contrast, other regions report lower rates of women-owned businesses, emphasizing the need for systemic support. Memphis is paving the way for a more equitable entrepreneurial landscape, showcasing successful programs like the Women-Owned Passport initiative.
Memphis Ranks as the Only Major U.S. City Where Women Own More Small Businesses Than Men
Memphis has been recognized as the only major U.S. city where women own more small businesses than men, according to a report by LegalZoom. The female-to-male business ownership ratio in Memphis stands at 1.01 to 1, showcasing the city’s leadership in promoting gender equity within entrepreneurship.
This achievement is attributed to Memphis’s strong commitment to supporting minority- and women-owned businesses through various local initiatives. The report, which analyzed data from the Small Business Administration and the U.S. Census Bureau, delineated Memphis’s role as a hub for community-driven efforts aimed at fostering an inclusive entrepreneurial environment.
Community Initiatives Supporting Women Entrepreneurs
Several local programs in Memphis offer essential resources like funding, mentorship, and partnerships with community organizations, all designed to help women entrepreneurs succeed. These initiatives contribute to the city’s recognition as a model for promoting innovation, equity, and economic growth, particularly in historically underserved communities.
In contrast, other states such as West Virginia, Wisconsin, and Pennsylvania struggle with low per capita rates of women-owned small businesses, largely due to barriers like limited access to capital and the unique economic challenges faced by rural areas. Cities such as Stockton, Bakersfield, and Fresno rank lowest in density of women-owned businesses despite California’s overall economic strength.
National Highlights in Women-Owned Businesses
On a broader scale, states like Florida, Georgia, Colorado, Louisiana, and Vermont are noteworthy for leading the nation in the prevalence of women-owned businesses per capita. Florida, in particular, boasts the highest density with 5.77 women-owned businesses per 100 residents, and cities like Miami exceed that, reaching nearly 9 per 100 residents.
Furthermore, notable cities like Atlanta and Orlando experience robust growth in their metro economies, enhancing opportunities for women entrepreneurs. Nationally, Hawaii excels in employment impacts from women-owned businesses, as these firms employ an average of 7.2 people per 100 adults and average almost $482,000 in payroll per firm.
Memphis’ Impact on Women’s Economic Power
In this landscape, Memphis notably contributes to the broader national conversation about entrepreneurship equity. The city’s thriving female entrepreneur community spans various sectors, including retail, technology, creative industries, and hospitality. LegalZoom’s findings indicate a rising number of women pursuing entrepreneurship, seeking more flexible and purpose-driven career paths.
Memphis has also reintroduced the Women-Owned Passport program, which encourages consumers to shop at women-owned businesses. Launched in 2023, the program had significant success, distributing 3,400 passports and organizing shopping events among local residents. The initiative aims to raise awareness and offers unique deals, fostering a supportive atmosphere among women business owners.
Details of the Women-Owned Passport Initiative
The Women-Owned Passport program will allow participants to start collecting their passports from October 1, with rewards and special deals available from November 1 to December 31. Participants can earn stamps through purchases, social media engagement, or leaving reviews. Completed passports may be submitted by December 31, with grand prize winners to be announced on January 13, 2025.
This initiative not only stimulates local commerce but also cultivates a sense of camaraderie among women entrepreneurs, emphasizing the importance of supporting local businesses. By highlighting the unique contributions of women-owned businesses to Memphis’s economy, the program underscores the potential for inclusive growth in urban entrepreneurship.
Deeper Dive: News & Info About This Topic
HERE Resources
Consilience Group Expands Operations Across 19 States
Tennessee Titans Move Forward with New Stadium Plans
Memphis Contractors Challenge County’s MWBE Discrimination Claims in New Lawsuit
Empowering Women Entrepreneurs: Join the Fun at the Power of the Pump Expo in Memphis!
Discover Unique Gifts and Support Women Entrepreneurs with Memphis’ Women-Owned Passport Initiative
Memphis Riverfront Undergoes Century-Old Planned Transformation Surpassing Targets and Winning National Recognition
Academic Medical Center Partnership in Shelby County Aims to Revamp Healthcare and Boost Economy
Unveiling 30 Exciting Experiences to Welcome the Spring Season in Memphis this March
Additional Resources
- We Are Memphis: Memphis Leads the Nation as the Only Major City Where Women Own More Businesses Than Men
- Commercial Appeal: Women-Owned Restaurants and Food Businesses in Memphis
- Choose901: The Women-Owned Passport is Back for 2024
- StyleBlueprint: Women-Owned Businesses in Memphis
- CNBC: Top 10 Cities for Women-Owned Businesses in America

Author: STAFF HERE MEMPHIS WRITER
MEMPHIS STAFF WRITER The MEMPHIS STAFF WRITER represents the experienced team at HEREMemphis.com, your go-to source for actionable local news and information in Memphis, Shelby County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Beale Street Music Festival, Elvis Week, and Memphis in May International Festival. Our coverage extends to key organizations like the Greater Memphis Chamber and the Memphis Convention & Visitors Bureau, plus leading businesses in logistics, healthcare, and music that power the local economy such as FedEx, St. Jude Children's Research Hospital, and AutoZone. As part of the broader HERE network, including HEREBristol.com, HEREChattanooga.com, HEREKnoxville.com, and HERENashville.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.