Small businesses dominate the landscape in Texas. Though most things are larger here, this isn’t true for entrepreneurs. Over 99 percent of businesses in the state are classified as small businesses. This includes over 2.2 million nonemployers and more than 791,000 small businesses hiring between 1 and 499 employees.
The state of small business in Texas is extremely favorable for entrepreneurs, particularly women. Over 28 percent of small businesses are owned by women in the state, and 19 percent are owned equally by men and women. This gives Texas the second-highest number of women-owned businesses in the country.
If you’re ready to start a business in Texas, there are several key things to consider. In a state this size, you can find a niche for nearly any type of company, but you need to choose the right location for your particular industry. Austin, Corpus Christi, and Dallas are popular among tourists. Canyon, College Station, and Stephenville are big college towns, while Richardson, Tyler, and Abilene call to Texas retirees.
The right location can give you access to a customer base that’s ideal for your products and services. Make the most of Texas’ diverse demographics and position your company close to shoppers who will flock to your distinctive designs.
Take the time to formulate your business plan long before your launch and take advantage of all the state’s resources for small business owners. Small Business Development Centers located throughout the state are poised to support your efforts, while state programs can provide valuable funding. You can find a promising climate here for your next business plan.
For the complete overview on small business trends in Texas, check out this Infographic: