The entrepreneurial spirit runs deep in American society. According to the Bureau of Labor Statistics, about 10% of the American workforce is self-employed.
This spirit is well represented in the Lone Star State. A recent study named both Dallas and Fort Worth as two of the best cities in the United States to start a business in.
Economic factors for the Dallas-Fort Worth area
The study analyzed economic factors for over 100 of the largest cities in the United States to determine which cities were the best for starting small businesses. Fort Worth and Dallas came in at 11th and 15th respectively.
The study looked at three broad dimensions with a variety of statistics in each category. The three categories were:
- Business environment
- Access to resources
- Business costs
Good news for local businesses
Besides placing highly in the overall ranking, Dallas and Fort Worth tied for fifth in the highest average growth in number of small businesses. This means that opportunities for small business have increased in recent years.
Starting a business
The study gives a lot of reason to be optimistic about business ventures in the Dallas-Fort Worth area. However, though entrepreneurs of the area may enjoy a favorable environment, they are not immune to the many challenges that all small businesses face.
If you are thinking about joining the millions of Americans who own their own business, be sure that you are prepared for future challenges. An experienced business attorney can help you register your business properly to set you up best for future success.