The Lone Star State is home to an impressive 3 million small businesses, employing 4.9 million people. This accounts for more than 45.1% of Texas' private sector workforce. The professional, scientific and technical services sectors are the largest individual industry in terms of small business investment, with a total of 373,776 small businesses currently operating in these areas. Of these, 309,851 are non-employers, 59,299 have 1 to 19 employees and 4,626 have 19 to 499 employees.
Women own 1,076,697 small businesses in Texas. Of these, 992,000 are non-employer companies and 84,697 have employees. Men own 1,564,944 companies, with 1,315,000 having no employees and 249,944 having employees on the payroll. There are also 112,844 small businesses that are owned by both men and women.Texas is one of the top states for boomer and millennial entrepreneurs to set up shop according to Forbes (California and Florida being the other two leading states).
The U. S. Small Business Administration defines small businesses as those with fewer than 500 employees. The state's culture, climate and lifestyle choices provide ample opportunities for business owners and workers to work hard and reap the rewards.The Texas Workforce Commission offers Small Business Skills grants which support businesses with fewer than 100 employees by incentivizing the training of new full-time workers.
Additionally, informational small business events and webinars are part of the strong support provided to small businesses and start-ups.The U. economy has been strengthening in recent years which has created many opportunities for entrepreneurs. This is reflected in the increasing number of small businesses in the United States. In addition to Texas grants for small businesses, entrepreneurs can benefit from assistance with obtaining a Texas small business license, regulatory compliance and resource referrals.Loans finance the development and production of new or improved products or the stimulation of new or existing small businesses in Texas.
According to the U. Small Business Association (SBA), Texas small businesses employ 45.1% of the private workforce or 4.9 million people - a figure that is expected to grow.