To many people, Texas is synonymous with cowboys, donning their ubiquitous hats and boots. However, what escapes them is the fact that Texas is a vibrant state with a massive economy and thriving businesses. If you are eager to find the ideal location for your startup, consider Texas for the following reasons:
Taxes and Incentives
Texas stands out for not taxing personal incomes and corporate incomes, which is ideal for startups. Apart from this, Texas provides special incentives, including a manufacturing sales tax incentive that exempts businesses from paying taxes on machinery used in producing goods for sale. As a result, cottage industries and manufacturing enterprises have fertile ground for establishment and operation with fewer tax burdens.
Texa has a vibrant economy, powered by petroleum processing, first-class health care, film making, computer technology, agriculture and aeronautics. Many large companies have set up in Texas, powering the state to great economic heights. Some of the established mega-companies in Texas include Dell, Southwest Airlines, Intel, BP, Airbus Helicopters, London B. Johnson Space Center and Robot Entertainment.
A pool of Qualified Personnel
Apart from Texas’s largely youthful population, the state attracts many professionals who are relocating there searching for jobs. This ensures a large pool of skilled labor is available to serve the needs of startups and other existing businesses. Besides, Texas has established laws to protect worker rights and the Texas Workforce Commission handles violation complaints from workers in entities with a minimum of 15 employees. This makes the city a favorite for all cadres of workers.
In Texas, houses are reasonably priced, whether renting or buying, making it a low-cost destination for relocation, both for single individuals and families. Low housing costs imply low living costs, making it friendly for entrepreneurs who wish to set up in the area. With an abundance of idle land and adequate forest cover to provide timber for building, Texas remains the ideal place for affordable housing.
It is relatively easy to start and register a business in Texas, owing to minimal regualtions. For example, companies do not have to pay annual registration fees, as is the case in various states. Also, Texas limited companies are exempt from holding annual meetings and maintaining the meetings’ minutes, as is usually the case with corporations. It is even simpler to register your business with the help of agencies that will provide all documentation, including Texas Seller’s Permit for startups.
Texas is a major tourist destination, attracting visitors from all parts of the world, thanks to a host of interesting places and sights. Prominent tourist attractions include Space Center Houston, the Sixth Floor Museum, Dallas and the beautiful Galveston Beaches. The tourism industry in Texas is vibrant, with hospitality based startups like hotels, eateries and transport companies being the biggest beneficiaries.
While succeeding and thriving in business is not guaranteed by location, a good location provides an enabling environment for young companies. Choosing Texas as your company’s location will offer a wide range of benefits that can go along way to ensure growth and profitability.