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…
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…
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…