Texas is renowned for its entrepreneurial spirit and long-standing history of innovation. Home to 3 million small businesses, the Lone Star State is focused on creating an environment where entrepreneurs can aspire, grow, and thrive. From informational small business events and webinars to burgeoning venture capital investments and growing business activity, Texas is a great place to start a business. The Texas Workforce Commission leads a program that helps current and newly hired small business employees.
The Governor's Office of Small Business Assistance and the Business Permit Office provide advocacy, business support, education, and technical assistance to Texas small and medium businesses. 99.8% of the state's 3 million businesses are small businesses. The Texas Product Development and Small Business Incubator Fund (PDSBI) offers asset-backed long-term loans to product development companies and small business incubators and accelerators located in Texas. There are also many incentives for Texas' many businesses that promote innovation in your business.
Employment expanded by 153,806 and contracted by 153,593.Small businesses accounted for 69,430 openings and 60,952 closures. Over the past decade, Texas has won more awards for a healthy business climate and job growth than all other states combined. To start a business in Texas, you need to complete a series of basic steps and make some key decisions. Small Business Association reports that Texas small businesses employ 45.1% of the private workforce, or 4.9 million people, a figure that is expected to grow.
Not only Americans but also international entrepreneurs are starting small businesses in Texas. This guide will provide useful information for those interested in starting a business in Texas, marketing their business to other small businesses in the Lone Star State, or expanding their business in the state.