Making space for new business in Houston Houston’s ‘A’ business friendliness grades open new opportunities for startups
In its 2018 Small Business Survey of more than 7,500 small business owners, 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.”
This simply is not true of Texas. Texas has consistently been awarded top marks in “Business Friendliness” surveys, never receiving less than an “A” in the seven years Thumbtack has published its comprehensive national survey. WalletHub agrees. The popular personal finance site ranked Texas second overall in its 2017’s Best & Worst States to Start a Business study.
So how does Houston factor in?
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 the big city. All four industrial cities ranked in WalletHub’s top 25 “Business Environment” ranking for 2018.
Through government and grassroots initiatives, Houston is constantly looking to make life easier on entrepreneurs.
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 on a 32-acre campus early next year. The Cannon is well-positioned to become “Houston’s campus for entrepreneurs,” with coworking spaces and incubator programs available at different membership levels to accommodate businesses of all sizes.
Local banks are making these massive business projects possible, opening more opportunities for the next generation of entrepreneurs.
An 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 — and business owners — are making Houston their home. Startup sanctuaries like The Cannon add an extra incentive to an already bustling business community.