- Texas boasts 6.5 optimistic local business owners for every 1 pessimist
- Customers and a healthy state economy are driving confidence
- National issues like federal regulations are leading concerns
We all know that everything is bigger in Texas — even the economy, which some claim is the 10th largest in the world. By a number of measures, the Longhorn State’s business reputation backs up bold claims. The Kansas City based Kauffman Foundation recently found that Austin, for example, leads the nation in startup activity and is among the nation’s top cities for small business.
So, small business is big business in Texas. But how do local businesses feel about their prospects in 2017 and beyond? Turns out, Texas ranks #15 nationally for small business optimism with 6.5 optimistic owners for every pessimistic one, according to a national survey by Womply. All told, 76% of Texas small business owners are bullish on their businesses this year compared to 70% nationally.
What’s driving optimism? Two big things: Customers and a healthy state economy (this despite recent setbacks in the state’s national economic position). What about pessimism? For the 18% of Texas small business owners who are squeamish about business this year, national issues like federal regulations and the health of the U.S. economy loom large.
Our study, which polled thousands of small business owners in all 50 states, also uncovered what’s keeping Texas business owners up at night, whether or not they plan to hire and expand, and how they feel about key political and policy issues that affect small business, like Obamacare and tax reform.
And what about Austin? Despite its incredible traction as a startup hub, it actually lags behind other Texas metros in hiring intent and overall small business optimism. Read the full report below.