Small Business Startup News

Lone Star State Outshines Others In Small Business Friendliness

Written by Jenna Weiner
Published: 1/11/2010

The Small Business and Entrepreneurship Council recently named Texas the third friendliest state for entrepreneurs.

Texas boasts low business tax rates and superior workers compensation benefits, according to the Small Business and Entrepreneurship Council. This could be good news for entrepreneurs in the Lone Star State and Americans willing to move to Texas to find a job.

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The SBEC recently released their Small Business Survival Index ranking of the top states for small businesses and entrepreneurship in the country, and Texas came out third. The council cited the state's low tax rates and local government spending issues as positive factors.

Texas also offers university and community college provisions for business education and development. Brad Hancock, director of Texas Christian University's Neeley School of Business Entrepreneurship Center, told the Forth Worth Business Press that the center has recently seen an increasing number of students who are interested starting a small businesses.

While Texas's high marks are clearly important news for blossoming entrepreneurs, SBEC economists think the Small Business Survival Index rankings should be important to all Americans.

SBEC chief economist Raymond Keating told the source, "[S]mall businesses, of course, drive innovation, economic growth and job creation. If we want to get our economy back on a solid, robust growth track, then we need pro-entrepreneur policies at the federal, state and local levels."

The SBA reports that small businesses have generated more than 64 percent of net new jobs over the past 15 years.

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