When thinking about setting up a business, you want somewhere that will bring you success and profits. But most of all, you want it to make you happy. Texas has all this and more and is one of the best places to start your business venture. Here are our top three reasons to choose Texas for your business.
1. Texas Has Everything
One of the great things about Texas is that it has big bustling cities like Austin and Dallas and much more rural, laid-back areas too. As a result, Texas draws in plenty of tourists for its amazing food and music scenes (barbecue and country music around a fire, anyone?), as well as for big names like the Big Bend National Park.
This is important for businesses because you are not only engaging your standard Texans, but you’re also reaching out to customers all over America (and worldwide, even). Not only are tourists likely to engage with a small, local business, but they’re likely to review it and share it, giving you a strong customer base that also gets you some good publicity.
2. Texas is Affordable
Another great thing about Texas is that it’s incredibly affordable. The classic thing to know about Texas is that everything is bigger, but it also turns out that everything is cheaper, too. The cost of living, for example, is 7% cheaper in Texas than in other states. Similar lower costs also exist across health care, transportation, and utilities – you can read more here.
This means starting up a business should be cheaper, especially when considering a place to rent or stay, as housing and rent prices also tend to be much lower than the national average. This can save you a lot of money, particularly at the beginning when start-up costs are the majority of your expenses, giving you the chance to make a much more significant profit margin.
3. Texas Loves Small Businesses
Did you know that in 2019, Texas was titled by WalletHub as the top state to start a business? This isn’t surprising considering that Texas loves small businesses. In addition, Texas is very appealing to small businesses because the tax rules are relatively lax. For example, Texas has no individual income tax or corporate income tax, meaning you already avoid losing money to tax. Paired with a thriving economy, it makes Texas an attractive place to set up.
Due to the high number of small businesses, it also means there are plenty of accessible resources and deals for small business owners. Texas business insurance providers, for example, tend to be tailored and catered to small business owners in Texas, allowing you to find plenty of ways to finetune your business and make the most of it. In addition, Texas business insurance can easily be obtained online.
Whether it’s the wide range of potential consumers, affordable costs, or friendly climate perfect for entrepreneurs, you can be sure that Texas is one of the best places to set up your new business and push it in an optimistic, successful direction.