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The Top 10 U.S. Cities For Women-Owned Businesses

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The Growth of Women in Business

The Top 10 Cities For Women-Owned Businesses

Women are conquering the business world at a rapid pace, especially in areas such as small business and entrepreneurship.

The proof? In the last decade, the number of women-owned firms nationwide has grown by over 3.5 million, now representing 38% of all businesses in the United States.

Today’s map from HowMuch.net shows the top American cities where business is booming for women entrepreneurs.

Where are Women-Owned Businesses Growing Fastest?

Looking at the percentage growth in women-owned businesses tells us a lot about the way local economies have developed in the past decade.

Though women-owned firms in larger cities may have more absolute growth and revenue, a high growth rate shows the rapid emergence of a business community where there may have not been one before.

RankCityGrowth as PercentageAbsolute GrowthRevenue ($ Billion)
1Memphis122%47,7986.1
2Detroit121.4%140,00025.1
3Charlotte105.4%61,56813.3
4Miami94.7%220,00041.4
5Orlando83.5%72,93012.3
6Atlanta75.8%133,00036.9
7Dallas74.3%100,00047.0
8Houston70.4%107,00036.1
9Las Vegas69.8%44,34110.4
10Austin65.2%41,41310.3

Memphis’ women are leading the charge in the development of their city’s relatively small economy. Though the city is ranked only 45th in terms of revenue generation by women-owned firms, it’s adding new women-owned businesses at a very rapid pace.

The growth rate in Memphis of 122.2% between 2007-2016 leads the nation, making it one of only three cities (along with Charlotte and Detroit) where women-led business growth has more than doubled since 2007.

Absolute Growth Numbers

More metropolitan cities like New York or Los Angeles already have a bigger base of women entrepreneurs to start with, so their percentage growth is not high enough to show up on the aforementioned map.

However, it is worth looking at where the most women-owned businesses are being added (in absolute terms) as well:

RankCityAbsolute GrowthGrowth as PercentageRevenue ($ Billion)
1New York City271,00044.9%140.0
2Los Angeles225,00055.0%95
3Miami220,00094.7% 41.4
4Detroit140,000121.4% 25.1
5Atlanta133,00075.8% 36.9
6Houston107,00070.4%36.1
7Chicago105,50039.0%50.0
8Dallas100,00074.3% 47.0
9Riverside60,00062.8%19.9
10Washington, D.C.57,00032.6%37.1

Interestingly enough, certain cities appear on both lists, showing impressive growth both in relative and absolute terms.

Detroit and Miami are fairly unique in that they make the top five on both lists. Detroit grew its women-owned businesses by 121.4%, or 140,000 in absolute terms. Meanwhile, Miami grew at 94.7% to add 220,000 businesses since 2007.

Houston and Atlanta are two other cities that fare very well on both lists.

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Charted: Stock Buybacks by the Magnificent Seven

While Apple carried out $83 billion in stock buybacks over the last four quarters, Amazon and Tesla didn’t report any.

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Nightingale chart of stock buybacks for the magnificent seven stocks showing that Apple had the most buybacks of $83 billion.

Charted: Stock Buybacks of the Magnificent Seven

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

By 2025, Goldman Sachs predicts that total U.S. stock buybacks will exceed $1 trillion. The bank sees this growth being driven by strong tech earnings growth and lower rates.

But what are buyback amounts like for the largest tech companies today?

This graphic looks at the total value of shares each Magnificent Seven company has repurchased in the last four quarters using data from their latest financial statements.

What is a Stock Buyback?

A stock buyback is when a company buys their own shares to reduce the number of available shares on the market. Companies may choose to buy back stock to return value to shareholders. Having fewer shares available improves earnings per share, and may drive up the stock price.

Buying back stocks can also come with risks, such as using up cash that would otherwise be put toward growing the business.

Stock Buybacks of Tech Titans

We gathered data from company financial statements to see how stock buyback amounts differed among the Magnificent Seven. Each total represents what companies reported from June 1, 2023 to June 1, 2024.

As we can see, the tech companies in the Magnificent Seven have been the ones buying back their stock over the past year.

CompanyTotal Stock BuybacksBuybacks as a % of Market Cap
Apple$83B2.8%
Alphabet (Google)$63B2.9%
Meta$25B2.0%
Microsoft$20B0.6%
Nvidia$17B0.6%
Amazon$0B0.0%
Tesla$0B0.0%

Values rounded to the nearest billion. Company market caps are as of June 6, 2024.

Apple had by far the most share repurchases, raising its diluted earnings per share from $1.26 to $1.53. Going forward, Apple authorized an additional $110 billion for share repurchases, a U.S. record. The board says the repurchases are in light of their “confidence in Apple’s future and the value we see in our stock.”

On the flip side, both Amazon and Tesla did not issue stock buybacks in the last four quarters. Amazon’s CFO Brian Olsavsky recently emphasized the company’s strategy of reinvesting in the business. He says Amazon is focused on reducing debt and building data centers to take advantage of AI.

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