The $13.6 billion legalized cannabis industry is booming; it’s projected to grow to a whopping $85 billion in sales in 2030. But not all cannabis products are the same. There are two major types cannabis-derived products: THC-based: Made with tetrahydrocannabinol, the primary psychoactive component of cannabis. THC gives the user a “high,” and is far…
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10 Creative New Business Ideas Started During the Pandemic
From virtual team-building campfires to quantum leaps in AR technology, the coronavirus has motivated some enterprising business owners to think outside the box. And many entrepreneurs are not letting the pandemic or recession stop them, with 500,000 new employer identification number applications submitted since mid-March. A depression or recession can paradoxically be a great time…
Best and Worst States for Businesses to Survive the Pandemic
Our 50-state analysis shows that business owners in Ohio (which ranked #1) were best situated to weather the economic turmoil of the COVID-19 pandemic. Those in New York (#50) fared the worst. Fit Small Business surveyed every state using metrics including overall financial health, infection rates, emergency reserve totals, and consumer confidence to determine in…
Top 10 Entry-Level Jobs for College Grads in the COVID-19 Era
For new college graduates, entering the workforce now is daunting, to say the least. According to the latest U.S. Bureau of Labor Statistics report, the U.S. economy lost an unprecedented 20.5 million jobs in April, with an almost 15% unemployment rate. However, the current crisis has hit specific industries harder than others, and demand has…
Best (And Worst) Industries to Survive COVID-19: The Winners and Losers of This Pandemic
COVID-19 has wreaked havoc on industries across the country, but not everyone is losing money. With total travel spending in the US expected to plummet $355 billion this year, sectors like hotels and airlines are hemorrhaging revenue and jobs. On the opposite end of the spectrum, work technologies like video conferencing are seeing incredible gains…
5 Ways COVID-19 Is Transforming the Shopping Experience
COVID-19 has driven 158 million Americans to stay indoors forcing us to adjust the way we shop—64% of those polled indicate that, where open, they are avoiding shopping locations altogether. On the flip side, ecommerce is booming with supermarkets witnessing a 161% increase in online sales. There are some silver linings out there as you…
10 Ways to Prepare Your Small Business During a Pandemic
It’s a brave new world out there, and businesses haven’t been to this pandemic rodeo before. COVID-19 has no doubt sent CEOs, HR managers, and employees scrambling to revisit their official business procedures in the case of any emergency. Things got even crazier when the World Health Organization (WHO) announced that the coronavirus is now…
10 Most Memorable Branding Fails of All Time
The Ad That Broke the Internet On Nov. 21, 2019, popular fitness startup Peloton released a 30-second holiday-themed ad for its high-end stationary bike that rubbed people the wrong way. The ad, entitled “The Gift That Gives Back,” depicts a woman receiving a Peloton bike for Christmas from her husband and then chronicling her use…
Black Entrepreneurship 2020: A Special Report and Definitive 50-State Ranking
The story of Black business ownership in 2020 is one of both explosive growth and constant societal roadblocks to success. Black-owned firms grew 34% from 2007-2012, totaling 2.6 million companies, and minority small businesses in general increased 79% by 2017. The top 100 Black-owned companies generated $30 billion in 2018, and a whopping 50% of…
The Top Ten Worst Valentine’s Day Gifts
Valentine’s Day is designed to be an occasion to show the one you love the most how much you really care. It’s also, unsurprisingly, big business. As the largest commercial holiday in the U.S. outside of Christmas, Valentine’s Day is set this year to possibly break records in terms of gift purchases. According to a…
Best States for Female Entrepreneurs 2020—Definitive Ranking of All 50 States
There is no more exciting time for the female entrepreneur than the present. According to a 2019 American Express report, the number of women-owned businesses has increased 21% within the past five years, compared to only 9% of all businesses—and with double the annual growth rate! As the start-up landscape braces for an unprecedented era…
The 12 Worst Secret Santa Gifts for the Office
Whoever came up with the idea of the office Secret Santa gift exchange probably also thought that Michael Scott of “The Office” fame was a good manager. Sure, having a Secret Santa or similar holiday gift exchange at the office can be a lot of fun, but it can also end in misfortune, litigation or…