It's no secret that Texas is one of the best states for small businesses. With a stable business climate, low taxes, excellent transportation infrastructure, skilled labor, and one of the most business-friendly state governments in the country, it's no wonder why Texas earned first place as the best overall state to start a business. The methodology for the report examined the conditions that make business creation ideal, such as access to capital, available talent in the workforce, and affordable office space. Texas narrowly outperformed Utah with a total score of 61.05 and earned a No.
1 ranking. There was a time, not long ago, when many entrepreneurs flocked mainly to Delaware and Nevada to do business. Delaware has a reputation as “the corporate capital of the world due to its business-friendly corporate tax laws. These laws have allowed the state to become the legal home of more than 1 million business entities. Nevada also has a reputation as a tax haven, as the state has no corporate or personal income taxes. But Texas has more to offer than just friendly rules.
Its culture, climate and lifestyle choices offer business owners and employees equal ways to work hard, earn a living and enjoy the fruits of their labor. Here are the top 7 reasons why Texas is an attractive place for businesses:
- Stable Business Climate: The state government is very supportive of businesses and provides an environment that encourages growth and success.
- Low Taxes: Texas has some of the lowest taxes in the country, making it an attractive option for businesses looking to save money.
- Excellent Transportation Infrastructure: With its extensive network of highways and airports, Texas is well-connected to other parts of the country.
- Skilled Labor: The state has an abundance of skilled workers who can help businesses succeed.
- Business-Friendly State Government: The state government provides incentives and resources to help businesses succeed.
- Competitive Incentives: Texas offers competitive incentives for businesses looking to relocate or expand.
- Affordable Office Space: Office space in Texas is generally more affordable than in other states.