We all know Texas is the best state ever, right? Well, looks like others are starting to realize this as well. Especially business start-ups. Texas was voted the number one state for business start-ups for the second year in a row, according to an annual study by Wallet Hub. Great news for entrepreneurs.
Here are a few reasons why the Lone Star State is number one –
Texas had the 5th highest amount of spending on business incentives. Totaling 1.3% of its GDP, according to WalletHub. The Lone Star State has a wide variety of non-profit and government-backed programs for assisting small businesses with funding and regularly leads the nation in job growth.
The state also saw its number of small businesses grow at a rate of nearly 11%, according to the study’s findings, and Texas businesses overall had the third-highest rate of average revenue growth in the country.
Texas has the third-highest rate of working-age population growth, a statistic that promises a growing workforce in the future. The state already boasts a labor pool of more than 14 million people.
We are thankful to work with so many amazing Texas businesses. The future is bright for the Lone Star state.