SAN ANGELO, Texas – Starting a new business can pose some challenges. According to the Bureau of Labor Statistics, nearly half don’t survive the 5-year mark.
However, A new study by WalletHub, just found that Texas is the number one state, in all 50 states, to start a new business.
“I don’t think I’d have the same opportunities in Arizona that I have here in Texas,” stated Michele Babiash, who is the co-owner of Old Central Firehouse Bed and Brew.
“The last data we saw, was that if Texas were a sovereign nation, it would actually have the 10th largest economy by GDP in the world,” claimed Michael Looney, who is the Vice President of the Economic Development Division of the San Angelo Chamber of Commerce.
The factors that contribute to the Lone Star State, being the ideal place to pursue a dream company are; access to resources, having a growing business environment and providing a reasonable labor cost. Furthermore, San Angelo reflects this great economy.
“The economy appears to be very durable; it seems to be consistently growing each year,” added Looney.
However, many are still unaware of all the resources that San Angelo offers. Most of which, are of little to no cost and can help guide new entrepreneurs in their business pursuits.
The San Angelo Chamber of Commerce provides a plethora of necessary information.
“We help somebody who is thinking of starting a small business, understand the economic and consumer landscape of San Angelo,” explained Looney.
Also, Angelo State University’s Small Business Development Center provides free advising.
“We started on a business plan, which everyone should have. It’s a little intimidating, it’s a long process and they just hold your hand and literally just walk you through everything single thing,” elaborated Babiash.
Most importantly, the community support is what made the biggest difference for this new business owner.
“We have all these wonderful resources and all of these people who are so willing to help, that helped make our dream come true,” expressed Babiash