Colorado Springs ranked in the top 20 in the country for women entrepreneurs.

The personal finance website NerdWallet, took into account five factors to come up with the list. Analysts looked at how business-friendly a city is, the percentage of businesses owned by women, women's earnings, a city's education level and unemployment rate. Colorado ranked 18 on the list.

Female entrepreneurs said they're not surprised.

"I think it's a very nurturing environment for women-owned businesses," said Amanda Blough, founder of InnerSocial Marketing. "I feel like there's a different mentality here in Colorado Springs,where your experience and your knowledge speaks for itself."