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Texas is big on small business
The most current LMCI numbers from Texas Workforce Commission for small business ownership in the Austin – Round Rock Metropolitan Statistical Area or MSA (which actually goes from Georgetown to San Marcos) are encouraging. As of the latest data (December 2017), there were over 47,800 firms. Of these these micro businesses, businesses under 20 employees, represent more than 41,000 firms (about a 1/3 more than the 2009 number of 29,500 firms discussed in this original post) and the number continues to grow. (BTW, there are currently only 232 firms with over 500 employees in this same area.)
This is not unusual. When people get laid off sometimes their only option is to create a job for themselves by starting a business. And the Austin area has been extremely supportive of this. As a matter of fact, it has been used as a major way we have been able to work ourselves out of recessions – nine that I know of since we started in 1982. [Read more…]