Is Texas entrepreneurship ready to level up?

Texas entrepreneurship surged during COVID and has not retreated.

1.) U.S. Census Bureau, Business Applications for Texas [BUSAPPWNSATX], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BUSAPPWNSATX, Jan 26, 2025.

Can Texas entrepreneurship level up again?

• 2020 business applications up 25% from 2019

• 2021 business applications up 30% from 2020

• 2024 business applications are down 2% from 2023; however, they are still up 60% from 2019

• Applications have so far maintained the surge

• Can Texas entrepreneurship level up again?

• Considerations in favor of continued growth:

  • No state income tax

  • Lower regulatory burden and pro-business policies

  • Transportation, including major airports and seaport

  • Growing labor pool from population growth

  • Major universities with entrepreneurship programs

  • Texas stock market in development

  • Potential technology tools and productivity from AI