Denver ranks no. 2 for women-owned businesses in large metros

The Denver-Aurora-Lakewood metro area ranks second among large U.S. metropolitan areas for women-owned businesses, according to a new report from Coworking Café, which analyzed more than 200 metros nationwide.

The region’s strong showing is driven by a combination of high workforce participation among women, a large share of women-owned firms and a steady pipeline of new businesses.

Among large metros, Denver recorded the highest female workforce participation rate in the country, with 66.9% of women working compared with the national average of 58.9%. That deep labor pool helps support both startup formation and business growth.

Women-owned businesses also make up a significant portion of the local economy. About 25.5% of businesses in the Denver metro are women-owned, the fourth-highest share among large metros and above the national average of 22.9%.

Entrepreneurial activity in the region remains strong. The metro recorded 2,364 new businesses per 100,000 residents, the fifth-highest rate among large metros, reflecting a steady stream of new ventures entering the market.

Economic growth is another factor supporting business expansion. The Denver region posted 34.8% GDP growth since 2019, ranking 14th among large metros and signaling solid momentum for scaling companies.

Education and income levels also contribute to the metro’s strong environment for women entrepreneurs. Nearly 47.5% of women hold a bachelor’s degree or higher, and the median earnings for women are about $53,600. Meanwhile, 10.5% of residents age 16 and older are self-employed, indicating a strong culture of entrepreneurship.

Costs remain slightly above the national average, with a regional price parity of 105.5. However, coworking memberships in Denver average $219 per month, ranking 17th nationally and offering relatively affordable workspace options for startups.

Researchers say the region’s support infrastructure also plays a role. Organizations such as the Colorado Women’s Chamber of Commerce and SBA-affiliated Women’s Business Centers provide training, networking and access to capital for women launching or expanding companies.

The Coworking Café report evaluated metropolitan areas using three categories: women’s entrepreneurship (40%), economic context (30%) and labor and talent pool (30%). Metros were grouped by population size to allow fair comparisons.

Nationally, women-owned businesses now account for nearly 23% of all U.S. firms, and researchers say the cities best positioned for future growth will combine economic opportunity, affordability and strong institutional support for entrepreneurs.