4 answers
Emilie
Student
Victoria, Texas
2
Questions
Asked
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What area in Texas is the most receptive to new business?
I am a senior in high school and I am about to go to college and get my degree in entrepreneurial studies. I plan to open my own business after I graduate from college. I know there are many requirements when starting a business and location is an important one. I plan on staying in Texas, but want to almost guarantee top sales. #entrepreneurship #accountant #business-idea
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4 answers
Jason Kuok
8
Answers
Macau
Updated
Jason’s Answer
Hi Emilie,
Texas is definitely one of most business friendly states of all with its no state income tax policy and other favorable actions toward helping small businesses grow. Ambition and courage are two powerful tools that will get you through hardship and make important decision. Have you thought of the type of business you are going into?
If you want to be close to home Houston and Austin are both top choices. Austin has this small business leisure vibes with the food truck, antique shops, politicians, the river and college students, who has a higher tendency of trying out new things and can be a stable influx of population. Houston is where the oil is so people might have more money there to spend on nicer things. Also keep in mind when oil prices fluctuate the economy might shift overnight.
That leaves Dallas, which is the furtherest away from your family. Dallas now attracts a considerable numbers of international companies relocating their headquarter there given the size of the talent pool, extensive international flights network, fairly reasonable housing, and a good size of population to support whatever you do. Dallas and its surrounding suburbs combine the best of both worlds - a thriving metropolitan and just minutes away wild western towns. The economic weather is comparably more stable in the tech, banking, insurance industry so even with COVID-19 and everything going on in the world Dallas seems to be a safe haven for different businesses. You can find out more here https://www.dallasecodev.org/298/Small-Business
No matter what kind of business you will go into Emilie, the key of success is tenacity, dedication, and hard work. Of course throw in some luck there and maybe I will be your next customer. Keep it up.
Texas is definitely one of most business friendly states of all with its no state income tax policy and other favorable actions toward helping small businesses grow. Ambition and courage are two powerful tools that will get you through hardship and make important decision. Have you thought of the type of business you are going into?
If you want to be close to home Houston and Austin are both top choices. Austin has this small business leisure vibes with the food truck, antique shops, politicians, the river and college students, who has a higher tendency of trying out new things and can be a stable influx of population. Houston is where the oil is so people might have more money there to spend on nicer things. Also keep in mind when oil prices fluctuate the economy might shift overnight.
That leaves Dallas, which is the furtherest away from your family. Dallas now attracts a considerable numbers of international companies relocating their headquarter there given the size of the talent pool, extensive international flights network, fairly reasonable housing, and a good size of population to support whatever you do. Dallas and its surrounding suburbs combine the best of both worlds - a thriving metropolitan and just minutes away wild western towns. The economic weather is comparably more stable in the tech, banking, insurance industry so even with COVID-19 and everything going on in the world Dallas seems to be a safe haven for different businesses. You can find out more here https://www.dallasecodev.org/298/Small-Business
No matter what kind of business you will go into Emilie, the key of success is tenacity, dedication, and hard work. Of course throw in some luck there and maybe I will be your next customer. Keep it up.
Kiran Annaiah
Consultant
1
Answer
Los Angeles, California
Updated
Kiran’s Answer
Hi Emilie
The simple answer is that location is an important criteria for business but not always. It is dependent on the type of business you are planning to get into.
1) Physical businesses - location will be important if you depend on in-store sales and customers visiting you. Example: Restaurants, retail stores, etc.
2) Online businesses - physical location may not be as important. You could have an office anywhere and still be able to build a business online.
Some of the suggestions made by my colleagues are also relevant in you choosing your location. If for some reason you cannot move out of your current location then explore all possible business ideas during your entrepreneur course work to short list the ones which may be successful in Victoria.
In my case, my business in the food industry required that I choose the best location. Within the same industry I am exploring business models which are less location dependent and can be scaled up to any size from any location.
For now, my advice is to use your entrepreneurial degree time to think, research, talk to business mentors and learn all about your business and industry before you get in. The location will become clearer as you go through this exercise
Meet and talk to as many business mentors as possible
Read and learn about your industry
Don't be afraid to ask questions like in this forum or elsewhere
The simple answer is that location is an important criteria for business but not always. It is dependent on the type of business you are planning to get into.
1) Physical businesses - location will be important if you depend on in-store sales and customers visiting you. Example: Restaurants, retail stores, etc.
2) Online businesses - physical location may not be as important. You could have an office anywhere and still be able to build a business online.
Some of the suggestions made by my colleagues are also relevant in you choosing your location. If for some reason you cannot move out of your current location then explore all possible business ideas during your entrepreneur course work to short list the ones which may be successful in Victoria.
In my case, my business in the food industry required that I choose the best location. Within the same industry I am exploring business models which are less location dependent and can be scaled up to any size from any location.
For now, my advice is to use your entrepreneurial degree time to think, research, talk to business mentors and learn all about your business and industry before you get in. The location will become clearer as you go through this exercise
Kiran recommends the following next steps:
Carlos Blanco
tax accountant
6
Answers
Miami, Florida
Updated
Carlos’s Answer
What kind of business are you opening will, have a big influence on where it would be better. TX in general is very business friendly, so anywhere really could work.
Tolga Cengiz
Business development and strategy professional
5
Answers
Austin, Texas
Updated
Tolga’s Answer
I am a bit biased, but I would say Austin. Austin is very friendly towards both tech firms as well as small businesses. There is a population boom in the city and most residents value helping small businesses over big chains which is why some of the very up and coming establishments were founded here: Whole foods, Pluckers, Alamo Drafthouse, etc. Only issue you may have is with rent, property prices and rental rates increase much faster than some of the more saturated cities like Houston and Dallas.
Entirely depends on the industry. If you are going into Oil and Gas consulting or something similar; Houston. Financial industries or banking; Dallas. Anything technology or a product where you think you would be shopping your products to venture capital firms; Austin.
Nicholas