The Small Business and Entrepreneurial Council (SBEC) has ranked Texas in the top three states for small business and entrepreneurship in their Small Business Survival Index 2009: Ranking the Policy Environment for Entrepreneurship Across the Nation. The index includes comparisons of state competitiveness based on factors including regulatory costs, government spending, property rights, health care and energy costs.
“When companies look at Texas, they’re discovering that we’ve fostered an environment that encourages people to pursue their dreams, build businesses and create jobs,” Gov. Perry said. “This index is further proof that our conservative fiscal principles, low taxes, predictable regulatory environment and educated workforce have made Texas the best state in the nation to build a business and create jobs.”
The study noted that significant economic growth is fueled by the private sector, especially in states that cultivate an entrepreneurial environment by promoting innovation and investment in the private sector. The SBEC also noted that, since 2000, the top 25 states have experienced significant population growth, proving that people “vote with their feet.”
“The ‘Small Business Survival Index’ gets at the public policy costs and trends that affect – directly or indirectly – entrepreneurship and small businesses,” study author and SBEC chief economist Raymond J. Keating said. “These measures should matter to everyone because small businesses, of course, drive innovation, economic growth and job creation. If we want to get our economy back on a solid, robust growth track, then we need pro-entrepreneur policies at the federal, state and local levels.”
Strengthening and promoting Texas’ economy continues to be a top priority for the governor. At the governor’s request, the 81st Texas Legislature passed a tax cut for 40,000 small businesses and continued funding for the state’s strongest economic development tools, the Texas Enterprise Fund and Emerging Technology Fund.
To view the Small Business Survival Index 2009 study, please visit http://www.sbecouncil.org/uploads/SBSI2009.pdf.