On Aug. 10, Gov. Greg Abbott attributed Texas’ consistently strong jobs economy to small businesses during the Governor’s Small Business Summit. As keynote speaker at the event in McAllen, Abbott, a Republican, said small businesses are a reason the Lone Star State is a national economic leader.
“Small businesses are a key part of the Texas economic juggernaut,” Abbott said according to an Aug. 10 press release. “Thanks to every one of you here today who serve as the engine of the booming Texas economy, Texas continues to rank as the Best State for Business and is the nation’s top state for small business job growth. Because of our dedication to cutting red tape across the state and investing in the workforce of tomorrow, there is no better place to start and grow a small business than Texas.”
The release noted that Abbott thanked his Economic Development and Tourism Office for hosting events in which entrepreneurs can gather and hear from experts and access necessary tools and resources. “Together, we are building a brighter future for all of Texas,” Abbott said.
CultureMap Austin reports that business credit card experts Capital on Tap ranked Texas as the second-best state to start a small business just behind fellow red state Florida. Data from the U.S. Bureau of Labor Statistics was used to determine the rankings.
“Entrepreneurship is driven by the desire for independence,” Capital on Tap Chief Operating Officer (COO) Damian Brychcy said, CultureMap Austin reports. “This includes the freedom to pursue your passion, choose your workplace and working hours, and foster personal growth.”
At the summit, Abbott said that Texas’ $18 billion property tax cut now bears his signature, with small businesses about to see increases in franchise tax exemptions and appraisal caps. The state is home to approximately three million small businesses, according to the press release.