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Texas Achieves Top Spot as Best Place to Start a Business

Posted on 9/11/2012 by with 0 comments

By: Jean Scheid, Guest Contributor*

 

Attention all entrepreneurs both new and old—the Lone Star State hits number one spot as best place to start a business in the U.S. Texas top ten lists on this or that are abundant on the Internet. Best place to work, best restaurants, best Texas travel destinations and even the ten most popular Texas celebrities, but for wannabe entrepreneurs looking for a new business venture Texas is the place to consider according to CNBC.

Senior CNBC Correspondent Scott Cohn with a little help from the Council on Competitiveness and the National Association of Manufacturers used some tech-metrics in ten categories of “bests” and published their findings in July of 2012.

As a Texas resident and professional, frankly, I’m not surprised especially since the same poll in 2011 landed Texas in the number two spot.

Criteria & Benchmarks

Folks everywhere are still swimming (or drowning) in the economy downturn and Texans have been affected as well. Still, we’ve got tons to be proud of in the Lone Star state but on to the digits, aughts and naughts used in the analysis.

The perfect number for this survey is 2,500 and Texas came in at 1,604 and if Texans want to really brag, according to CNBC, “Texas has never finished below second place since we began the study in 2007.”

Each state was judge by 51 metrics and individual state input but if you’re a Texan, you already know we have staying power and aren’t afraid to let everyone know about our pride in a “Jerry Jones” sort of way.

The ten categories included criteria such as cost of living, available workforce and talent strengths, quality of life, economy, education arenas and how business friendly states were.

Strong areas where Texas scored big included workforce scoring 250 points out of a possible 350, the economy garnered 212 out of 325, technology and innovation came in at 193 with 225 as the top score and infrastructure and transportation rated 248 where 325 was the perfect number.

The CNBC report hit it right on the mark by quoting Gov. Rick Perry during the CNBC Republican presidential debate last November: “Listen, there’s a reason that Caterpillar moved their hydraulics manufacturing and their engine manufacturing to the state of Texas.” Yep, we’re big and we’re open!

Education, Talent and Quality of Life

Texas boasts a plethora of higher education venues including Texas A&M, Baylor and Rice Universities and the University of Texas with campuses in Austin, Dallas and San Antonio to name a few. It’s logical for many students, even if they aren’t from Texas who have or will graduate from local colleges and universities to want to remain in one of our great cities, open a business and pursue their entrepreneurial dream.

The new breed of talent coming out of these colleges and universities will have an effect on future technology growth with giants like Intel, IBM and Google with offices in our great state and Apple soon on the way. Innovation spawns entrepreneurs and Texas talent certainly offers the arena for new business ventures and startups.

As far as quality of life in the Lone Star state there’s not much you can’t do from north to south and east to west. There’s fishing, boating, hiking, camping, swimming, visiting one of the number of state parks or a visit to Austin, the self-proclaimed music capital of the nation. It is a state mixed with industry and infrastructure and ranches and farming.

There are oil wells and wind farms and if you have the gumption, you can catch some wild hogs. The fashion and food industry have accomplished a world renowned presence in Texas and if you know anyone who can go without BBQ at least once a week, let me know—Texas BBQ that is. Beyond these business ideas, retail and the service industry are big hits for business startups especially hotels and resort ownership and who wouldn’t love a genuine ten-gallon hat? Texas is probably one of the best pro, college and even high-school sports towns; just ask the Cowboys or the Houston Texans or the many cheering parents at Friday night high-school competitions.

Starting a Business

Looking to start your entrepreneurial dream? Think buying an existing business or opening a franchise in Texas is right for you? Do you have a Texas-based innovation you want to grow local or even globally?

It’s a moot point, this list of best places to start a business—at least for Texans—we’re already aware of the many opportunities—but stay tuned as the Texan Post delves deeper into opening a business with tips on everything from the idea stage to funding, managing, hiring the right personnel, HR tips and why the many small business economic centers throughout the state and the Small Business Association (SBA) are also interested in Texas and funding business opportunities.

Whether your business interests lie in Keeping Austin Weird, finding your dream in the Big D (Dallas), opening an endeavor in Space City (Houston) or want to reveal your grandmother’s secret BBQ recipe in Lockhart, the Barbecue Capital of Texas the Lone Star state awaits you and its arms are wide open.

Reference:

Cohn, Scott – CNBC – “Texas Is America’s Top State for Business 2012” July 10 2012.

 

*Ms. Scheid is an accomplished business owner with proven strategies which are viable for all entrepreneurs ranging from startups to government funding to branding to forecasting. An expert researcher, Jean dives into each and every assignment to reveal both sides of the story and takes the real world approach opposed to the fluff many Internet writers offer.She resides in Austin Texas and is a member of the Bioneers, an eco-conscious group and the Professional Writers of Austin. Areas of expertise include: Business management, marketing, funding, human resources, environmental and energy issues, project management, the auto industry, innovation, analysis and forecasting, research and interviewing and in depth reporting.

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