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Read Business Insider's exclusive analysis of the top-10 business categories and top 10 locations for entrepreneurs to grow in 2020.
If you're thinking about starting a business in 2020, it will help to be in a growing industry and in a location with a lot of opportunity.
Business Insider used data from the Census Small Business Survey, the US Small Business Administration, the NAICS, financial market performance, and employment forecasts, in conjunction with analyses from Fundera, Office Depot, and MoneyPenny to generate our own rankings.
For the top 10 industries, we examined reported revenues, business size, capital requirements, and economic forecasts to find out which are the best categories to start a business in 2020.
Our top 10 locations were chosen based on past growth, diversity, and economic trends to find out which are the best US states to start a business in 2020, and the leading small business categories in each.
Equality of opportunity is an essential consideration in our rankings. Research from the Federal Reserve finds that businesses profit when they are located in places with greater equality of opportunity.
Other reporting and research shows that women- and minority-owned businesses are an important indicator of the overall health of the economy, and women are more likely to identify a market need and start a company.
Read BI Prime's exclusive analysis of the best industries and locations to start a business in the New Year.