Whether it's a software startup, an accounting firm, or a coffee shop, location is the ultimate factor for success for any business owner. According to this inaugural study from FitSmallBusiness.com, the digital business publication, half of the best states for African American entrepreneurs are concentrated in the south, with Georgia topping the charts.

The report found that the leading states possessed robust economic incentives, a reasonable average corporate tax rate, and, to no surprise, a high number of African American-owned businesses, according to data that FitSmallBusines.com editors researched and analyzed.

In addition, the "FitSmallBusiness.com State of Black Entrepreneurship in the U.S." report'* found that more than half (53%) of respondents believe that Black entrepreneurs have more business opportunities in 2020 than ever before.*The total sample size of this first-ever report was 1,306 U.S. adults, while the fieldwork was undertaken between February 7-10th of this year. FitSmallBusiness.com partnered with YouGov to produce this report.

Another compelling point: more than a third (39%) of respondents believe that the U.S. economy would be in a better position if there were more opportunities for Black entrepreneurs.

As to the most successful states, FitSmallBusiness discovered that those in the Top 10 all enjoy a robust, overall financial outlook. They also benefit from a healthy dynamic of African American-owned business success. While the Top 10 boasted established "business hubs" like Texas, California, and New York, non-traditional states such as Mississippi, Oklahoma, and North Carolina also produced winning ingredients.