As FranNet franchise consultants, we’re constantly scouring the web in an attempt to bring you the best news and information you can use. For those North Texans with an entrepreneurial mindset – and the others we’ve yet to convince – we were alerted to this story, featuring a recent study from SmartAsset, a leading research firm that focuses on connecting consumers with financial advisors. In a newly revealed list of rankings titled, “Best Places for Small Business Owners,” Dallas, Texas earned the fourth spot in the U.S.

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In determining the best places for small business owners, this SmartAsset study took into account three key factors: the percentage proportion of county residents who earn income via small business, business income reports, and the tax amount most residents pay according to their income level.

Whether or not an area was attractive for small business ownership was calculated by comparing tax returns filed for small business income against the general population. Then, the total amount of small business income was weighed against the overall reportable income for the region.

These three figures were indexed and weighted equally to yield the small business index, from highest to lowest. Here are the figures attributed to Dallas, TX:

Small Business Returns:       23.87%

Small Business Income:        30.29%

Income Taxes:                       $7,633

Small Business Index:           94.26%

The top three areas ranked higher than Dallas include Todd, SD (1st), followed by Bristol Bay and Sitka (both in Alaska). Sufficed to say, we think most people would agree that the climate and weather here in North Texas is a fair enough trade off to be happy with the fourth spot. Dallas is one of five Texas municipalities that made the list, as Galveston (5th), Haskell (6th), Titus (8th), and Matagorda (9th) were all in the top-10 surveyed. You can view the full study on SmartAsset’s website by following this link, but be sure to scroll all the way down to the bottom of the page to view the rankings.

The economic development corporation for Dallas pegs the percentage number of small businesses in the city at 80%, employing approximately 40% of our workforce. Now that’s a (small) business-friendly climate, one in which entrepreneurs are expected to thrive under ideal conditions. If you’d like to explore small business ownership of your own through franchising, let FranNet of DFW & Oklahoma be your guide. Our no-cost, no-obligation consultations have helped hundreds of entrepreneurs secure a future that belongs to them and them alone. We’d love to introduce you to the world of possibilities that await you through franchise ownership.

Getting started is easy – just book an introductory appointment and we’ll begin your Entrepreneurial Readiness Assessment. Working together, we can find a franchise concept that’s a match just for you — one that aligns perfectly with your lifestyle and income goals.