Texas celebrates small business week

Gov. Greg Abbott has officially declared April 28 through May 4 as Small Business Week in Texas.

In a press release issued by the governor’s office, Abbott highlighted the resilience of the Lone Star State’s small business community, highlighting the state’s central role in driving economic growth and its unique ability to foster innovation.

Texas is home to a whopping 3.2 million small businesses, which collectively employ nearly half of the state’s workforce.

“The story of Texas has long been written by men and women willing to take risks, dig deep into their own pockets and bet their futures on an idea,” Abbott said. “From the main streets of our small towns to our major city centers, that pioneering spirit continues to fuel our shared prosperity today.”

The governor’s proclamation coincides with nationally recognized Small Business Week, an annual tradition for more than six decades championed by the Small Business Administration. This year’s theme, “Building on the Small Business Boom,” highlights the momentum in America’s small business sector.

An integral part of the Small Business Week celebration are resources and support systems available to entrepreneurs across Texas. Abbott’s website offers entrepreneurs a variety of services, including step-by-step guides to starting a business, the Governor’s Small Business Resource Portal, and licensing and permitting information.

Additionally, the Governor’s Office hosts a series of Small Business Summits, which provide networking and knowledge-sharing opportunities among Texas small business owners and entrepreneurs. Held in diverse communities across the state, these summits serve as breeding grounds for innovation and collaboration and embody the spirit of Small Business Week.

“Texas is home to more than 3 million small businesses, and they employ nearly half of all Texas workers. Small businesses are the backbone of Texas’ mighty economy,” Abbott said in the release.

“Together, we will build a bigger, better Texas for decades to come,” Abbott continued.

According to a recently published report from Bank of America, small business owners across the country are generally optimistic: 65% expect revenue growth in the coming year, 39% plan to expand their operations, and 30% plan expand their workforce. Additionally, 55% experienced increased sales in 2023 compared to the previous year.

However, economic threats remain for American entrepreneurs. Small business owners report concerns about the U.S. political climate and inflation, with additional concerns about health care costs and interest rates. Since last spring, small business owners have seen recession concerns drop, from 72% to 56%. Although concerns about inflation have subsided somewhat, 84% of small business owners claim to still feel its impact on their business.