In a recent study, WalletHub compared all 50 of the United States states using 28 indicators of small business startup success. Among the factors they considered were access to small business resources, accessible financing, labor costs, and the average workweek length.
WalletHub's study found that Texas helps nurture small business due to several of these factors, including:
- Having a large talent pool, due to many major metropolitan areas and universities.
- Granting tax benefits to small businesses and entrepreneurs
- Embracing innovation
- Having a welcoming attitude toward small business across the state
The willingness of Texans to embrace small business earned it 2nd place in that category, just after Georgia. Texas also ranked 12th in Access to Resources and 32nd in Business Costs. These indicators were the major deciding factors in the rankings.
We'd love to hear from you! Are you working with clients who are relocating to Texas for business?