Black Country city named as best place in the country for women to start a business

Wolverhampton ranking highly for its small gender pay gap and a high rate of small businesses, having the second highest rate of growth in the country.

Stoke-on-Trent was sixth on the list, while Birmingham was 41st.

Telford and Wrekin was placed 14th.

The research used a range of criteria including female representation among the self-employed, growth in the number of small businesses and average childcare costs.

The number of small businesses in Wolverhampton grew by 15 per cent between 2018 to 2023, compared to the national average of 1.79 per cent, while women from Wolverhampton earn an average of 16 per cent less than men every week — compared to a countrywide average gap of 28 per cent.

The city also has low childcare costs, averaging £5 per hour, and almost half (48 per cent) of self-employed people in the city are women.

The national average for childcare is £5.38 an hour.

For Telford and Wrekin it is £4.90 and the area saw small business growth of 14.75 per cent and had a gender pay gap of 33 per cent.

iwoca’s ‘best place to be a female founder’ index used Office for National Statistics data and put Newcastle-upon-Tyne in second place and Darlington third.

The analysis follows the Government launching a new taskforce and funding for female-founded businesses. The Government’s Invest in Women Taskforce aims to make the UK the best place in the world for female entrepreneurs.

Jane Stevenson, MP for Wolverhampton North East, said: “As a proud Wulfrunian, I'm delighted to see Wolverhampton rank as the best place in England to be a female entrepreneur. With great transport links, affordable costs, and a range of help available for start-ups, there is a wealth of opportunity here.

"In November, the Government announced it will fund our Green Innovation Corridor and Investment Zone around the university and science park. I lobbied hard for these projects as they will make Wolverhampton an even more attractive business destination.

"I'm always keen to promote my home city – we've had huge Government investment since 2019 for projects like the City Learning Quarter and National Brownfield Institute and a new Government Ministry. As schemes like the GIC and IZ are delivered over the next few years, we will see a city on the up. I'd advise budding entrepreneurs and businesses looking to relocate to get here quickly!”

Dominique Williams, founder and chief executive of Reach and Unite Outreach and Empowerment Community Interest Company, based in Wolverhampton, said: “I’m proud to call Wolverhampton my home – having grown up, studied and started my business here. I know how much the city has to offer but also what it needs, and this inspired me to launch my own company.

“I didn’t have any experience of running a business, but the support provided by the University of Wolverhampton turned my vision into reality. Its SPEED programme helped me understand the fundamentals, from developing a business plan and setting a budget to marketing and branding. The university even provided office space at the Science Park where I can meet and learn from other businesses.

“My advice to anyone starting a business is to seek out the support available around you. Whether it’s from your local council or an entrepreneur’s network, these services can help to turn your passion into a successful business.”

Seema Desai, chief operating officer at iwoca added: “Small businesses contribute so much to the growth of our economy, and it’s vital that any barriers preventing more women from starting and scaling their own companies are broken down. At iwoca, we are proud to have a completely gender-blind loan application process where our decision-making is based solely on business performance. Making sure the UK’s female entrepreneurs have the right environment to thrive is key to developing the next generation of amazing British companies.”