Making Space for New Business in Houston
Houston’s “A” business friendliness grades open up opportunities for startups
Small Business Struggles
In its 2018 Small Business Survey, Thumbtack identified lack of support as a key concern for U.S. small business owners. According to the survey:
“Nearly 70 percent of small business owners think their local government cares more about attracting and supporting new corporations, while only 30 percent believe that supporting local small businesses is the priority.”
The Texas Exception
This simply is not true of Texas. Texas consistently earns top marks in “Business Friendliness” surveys. In fact, Texas has never received less than an “A” in the seven years Thumbtack has published its national business survey. WalletHub agrees. The popular personal finance site ranked Texas number one overall in its “2018’s Best & Worst States to Start a Business” study.
How Houston Ranks in Business
So how does Houston factor in?
Houston business is strong. As a city, Houston earned an “A” or better in “Ease of starting a business,” “Ease of hiring,” “Employment, labor, and hiring,” and “Tax code.” Southeast Houston suburbs like Deer Park, Texas City, Baytown, and La Porte are doing their part to support Houston business. All four industrial cities ranked in WalletHub’s top 25 “Business Environment” ranking for 2018. Through government and grassroots initiatives, Houston business is growing. The fourth largest U.S. city is constantly looking to make life easier on entrepreneurs.
Startups Sprouting in Northwest Houston
Following Austin’s lead, Houston is investing in small business growth with future-forward projects like The Cannon, currently in temporary facilities but expected to open in its 120,000 square foot building situated on a 32-acre campus early next year. The Cannon is well-positioned to become “Houston’s Campus for Entrepreneurs,” offering coworking spaces, incubator programs, and educational seminars.
Local banks are making these massive business projects possible, opening more opportunities for the next generation of entrepreneurs. Our independently owned, local bank, Texas Citizens Bank, is helping finance The Cannon building and campus.
“We couldn’t be more excited about this project. We’re thrilled to partner with The Cannon, and even more thrilled to watch business grow exponentially right here in our backyard. It’s always fun to see solid startups choose to set roots in Houston. It makes it that much easier for us to lend a hand when they’re ready to take their businesses to that next level,” said Texas Citizens Bank Chairman and CEO Duncan Stewart.
Between the low cost of living, ease of starting and hiring, and overall business friendly environment, Houston’s future looks bright. More and more businesses are making Houston their home. Additionally, startup sanctuaries like The Cannon add an extra incentive to an already bustling Houston business community.