Lubbock is known as a place that fosters the entrepreneurial spirit, and now, the city is recognized for its support of women entrepreneurs. Inc.com reported on the findings by Fundera, a business loan comparison site, that placed Lubbock in the top 15 cities for women entrepreneurs. Coming in at number 13 is no small feat for this mid-sized, West Texas city. After analyzing the percentage of the female workforce that is self-employed, the size of the earnings gap between entrepreneurs of different genders, housing costs, taxes, the education level of the workforce, and local job growth of the largest 100 cities in the United States, it was concluded that the “Hub City” is among the hottest metro areas women entrepreneurs should consider when looking to set up shop.
Although on average American women still earn $0.83 for every $1 an American man earns, in Lubbock, women business owners are actually out earning their male counterparts by over 13%. The percentage of high-paying jobs coupled with the low cost of living makes being a female business owner in Lubbock an attractive option. Not only are the housing costs affordable for homeowners and renters, so is everything else! Lubbock boasts a cost of living below the national average. While the necessities are affordable, the opportunities offered here rival those of big cities like Austin or Dallas.
Lubbock’s entrepreneurial spirit isn’t lost on the locals. With a diverse selection of resources available to those wanting to open their doors to the “Hub City”, including the Texas Tech University Innovation Hub at Research Park and the many grants offered through the Lubbock Economic Development Alliance (LEDA) and Market Lubbock, Inc. Starting a business is now more than ever an attainable and realistic venture for boutique owners and artists alike.
Whether a business owner is in need of support due to the impacts of COVID-19 or on the cusp of putting up their open sign, the community shows up time and time again. It’s because of the generosity of our citizens and the giving attitudes of our entrepreneurs that we have coined the phrase “big city resources with a small-town feel.”
In this era of girl power and female empowerment, the “Hub City” offers diverse, glass ceiling shattering opportunities around every corner.