Mar 25, 2024 - News

Women-owned businesses surging in Philadelphia metro

Data: Yelp; Chart: Jared Whalen/Axios
Data: Yelp; Chart: Jared Whalen/Axios

The "she-conomy" in the Philadelphia region is surging.

By the numbers: 966 new women-owned businesses opened their doors in the region last year, compared to 797 in 2022, according to Yelp.

The big picture: Women-owned business openings rose 17% nationwide last year, Axios' Analis Bailey reports.

  • The Philly metro saw the 7th highest rise in women-owned businesses opening last year among U.S. metro areas with at least 500 openings.

Winners: The metros with the highest overall number of new women-owned businesses were Los Angeles (4,741), New York City (3,189), Miami (2,190), and Dallas (1,898), according to Yelp.

  • While some of the highest growth rates were seen in Austin, Texas (34%), Miami (31%), and Washington, D.C. (25%).

Fun fact: New women-owned web design businesses in the Philly region spiked 500% in 2023 compared to the previous year, leading all other metros analyzed by Yelp.

  • Those sorts of new professional businesses saw the second highest growth in 2023 in the U.S., compared to 2022, behind hotels and travel businesses, per Yelp.

What they're saying: "Whether you attended a women-led stadium tour, adopted a new wellness routine, picked up a new bestselling book, or updated your wardrobe, the 'she-conomy' dominated cultural trends and ultimately drove economic growth," Yelp trend expert Tara Lewis told Axios in a statement.

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