Texas has long been a state of pioneers; from energy industry tycoons to the recently booming tech scene, Texas seems to have an abundance of residents with a strong sense of independence and an insatiable desire to innovate. But, what is it about Texas that appeals to so many aspiring business owners?
Texas has been a hotspot for tech startups, Fortune 500 companies, and small businesses of all varieties for a number of years. Part of this can be credited to Texas’ population continual growth, with half of the growth credited to transplants from outside the state lines. With three of the top ten most populous cities being located in Texas (Houston, San Antonio, and Dallas) more and more people are flocking to Texas in search of opportunity, which in turn supports a local economy.
Texas has a rapidly growing economy, making the state appealing to entrepreneurs who are interested in starting their business in Texas. In addition to leading the country in the oil, gas, and wind energy industries, as well as accounting for 10% of all total manufacturing, the capital city is the fifth-largest tech hub in the United States. Texas’ economy is experiencing a boom, and the business-minded are reaping the benefits.
Benefits of Starting a Business in Texas
In addition to a robust economy and ever-increasing population, Texas provides a myriad of benefits for new business owners, and has recently first in the best places to start a business, with the categories of the business environment, access to resources, and business cost coming into play.
Another widely touted benefits of starting a business in Texas is the lack of income tax, which is not only alluring to entrepreneurs but their would-be employees.
With programs such as GoTexan that promote locally based products and businesses to the abundance of proudly displayed state flags, to Texas-shaped items on the shelves of every store (even down to tortilla chips) and even a subgenre of country music classified as only Texas country, Texas is known for its state pride. It is correct to assume that Texas consumers support Texas-based businesses.
Texas’ growing population, matched with an impressive business incentives and already tenacious and rapidly growing business environment, makes the state an ideal place for business owners to open up shop. From traditional businesses like oil and gas to the evergreen scene that is modern technology, Texas is a perfect place for those who want to innovate.