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MBN USA

February 23, 2023

Results attributed to increase in Black business creation in these areas

A new REPORT was just released on the "Top 10 States for Black Business Owners," and it reveals that Louisiana and Florida, two Gulf states, have unexpectedly made it onto the top states for Black entrepreneurs list, joining the Mid-Atlantic and Southern regions.

Here are some key takeaways, but the full MerchantMaverick.com study can be found here: https://www.merchantmaverick.com/2023-best-states-for-black-entrepreneurs

· The Mid-Atlantic remains a popular region for Black entrepreneurs. This is due, in part, to a proportionally large Black population, which would tend to reduce barriers to the success of a new business.

· Louisiana and Florida both climbed dramatically in the rankings, rising 14 and 16 spots respectively. This rise, along with the strong showing of nearby states, raised the profile of the Gulf Coast for Black-owned businesses.

· Northern states continue underperform. Ohio was the most highly ranked state, and only came in at number 12. New York, which has the highest number of Black-owned businesses, barely avoided the bottom half of the list at number 23.

· Many of the trends appearing in the report may be due to hidden factors. For example, Gulf states: Florida and Texas, both of which saw a big jump in population, are performing very well.

THE TOP 10 STATES FOR BLACK ENTREPRENEURS IN 2023:

#1. Maryland

#2. Tennessee

#3. Nevada

#4. Virginia

#5. Georgia

#6. Louisiana

#7. Indiana

#8. Texas

#9. North Carolina

#10. Florida