Texas ranks in top 10 for entrepreneurship

CW39

HOUSTONTexas (KIAH) – According to Advisor Smith, the United States is one of the best countries for entrepreneurship. Texas ranks in the top 10 for entrepreneur success rates.

Texas comes in at number 10 on the list. Based on the 4-year business survival rate, Texans have a 55 percent chance of their small business succeeding.

Advisor Smith says Texas has 118 new businesses and 410 new entrepreneurs per 100,000 residents. With that being said, the value of new business loans per business in Texas is $7,633.

Officials say the rate of corporate taxation plays a role in the success rates of businesses. In addition, individual income taxation, sales tax, and unemployment insurance costs play a major part.

According to the U.S Small Business Administration, total lending dollars divided by the total number of small businesses in each state is used to find the new lending per business. In this case, they used $1M as the lending dollars.

For more information, visit AdvisorSmith.com.


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