The 10 US states where women have the best chances of growing a business and getting the funding they need, ranked

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Businesses owned by women are steadily growing, yet they face more obstacles in funding and generating revenue.

• Location can have a major impact on business success - and this is especially true for female entrepreneurs.
• Every state in the US has different laws, industries, and initiatives that can either aid or hinder business success.
• Fit Small Business ranked all 50 states based on opportunities and benefits for women business owners.
• Colorado was the top state, while California, New York, and Texas also ranked among the top five.
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Location, location, location! Although the age-old dictum came from selling real estate, the same goes for starting a business.

Your location can make all the difference in getting funding, acquiring customers, and scaling up. Since every state has different laws, industries, and initiatives, it's key to consider how your location may hinder or drive your success.

This is even more important for businesses owned by women, which are steadily growing. However, women face more obstacles in getting funding, and their businesses make less money on average than those owned by men.

According to a recent study by American Express, revenue disparity has worsened. For every dollar that a private company generated, women-owned businesses generated 37 cents in 1997 and 30 cents in 2019.

Fit Small Business, a website that writes advice for small businesses, released an annual study of the best states in America for female entrepreneurs. The site ranked all 50 states based on several factors that can make it easier for women business owners to succeed, including cost of living, access to funding, women's health, and startup survival rates.

Here are the top 10 states for female entrepreneurs to start and grow their businesses.