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Austin among top cities for entrepreneurial growth

The state of Texas has always been known for its Texas-size hospitality to visitors. Likewise, Texas provides a supportive environment to help local entrepreneurs grow the state's small business sector. Small businesses seem to thrive due to the strong local economies of many cities, including Houston, the availability of well-educated workers and local community support from residents of the state.

According to a recent report, the entrepreneur-friendly environment in the state is being noticed because the state's capital city, Austin, was selected as one of the best cities in the United States to start an entrepreneurial venture. The other cities featured in the list are Arlington, Virginia, Denver, Colorado, and Oklahoma City, Oklahoma. As the report suggests, several factors have allowed Austin inclusion on this list.

First, the city's local government has set up a Small Business Program, which is part of the Austin's Economic Development Department that provides support to new businesses in the city. Second, nearly one-quarter of the city's population is between the ages of 25 and 34, which means that young and skilled talent is easy for new businesses to find. Third, Austin's low taxation rates and undemanding regulations make it a city of choice for entrepreneurs.

When an entrepreneur in Houston sets up a new business, he or she needs to first identify a primary location for operating the business. However, in addition to finalizing a location, an entrepreneur also has to deal with a number of legalities involved in setting up a new business. Since those legalities can be fairly complicated, it may be a wise option for an entrepreneur to seek legal guidance.

Source: Investopedia.com, "Best U.S. Cities to Become an Entrepreneur," Alison L. Deutsch, Feb. 20, 2015

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