8 Facts You Need to Know…
The sixth annual “Dallas Startup Week” gets underway next week, so mark your calendars for a five-day extravaganza running from Aug. 30-Sep. 3. Presented by the Dallas Entrepreneur Center (DEC) Network and sponsored by Capital One, the startup community can take advantage of over 100 virtual sessions featuring 200+ speakers. Keynote hosts include former Dallas Cowboy Darren Woodsen, Olympic medalist Nastia Liukin, and Mayor Eric Johnson.
It’s events like this that drive home the point that DFW is an entrepreneurial paradise. Let’s zoom in and focus on 8 facts you need to know about starting a business here…
- WalletHub ranked Texas first in its “Best States to Start a Business” rankings: In its survey, they compared all 50 states across 26 different key measurement indicators which rated the best place for enterprise growth
- Startup Genome, a public policy think tank, ranked the top-50 cities in the U.S. for starting a business. Dallas came in 29th with the report stating, “The job creation machine that is Dallas-Fort Worth is hard to beat. Last year, the DFW metroplex added some 70,000 jobs – more than either Austin or Houston.”
- The Dallas Entrepreneurial Center Network reports that the North Texas region ranks second in the U.S. for year-over-year growth. It boasts nearly 100 coworking spaces, 42 incubators, and accelerators, and ranks 7th in the healthiest startup communities with three-quarters of a billion dollars in VC investment
- According to the Dallas Regional Chamber, the cost of doing business in DFW is 4% less than the national average
- In 2020, the International Franchise Association (IFA) ranked Texas first in the U.S. for the most franchise establishments and employment growth
- While no city or state has been spared the challenges of the pandemic, over 50% of recent participants of the Dallas Fed’s Retail Outlook Survey recorded gains in sales, wages, and benefits. General business outlook indexes were positive, and the respondents reported optimism on future conditions.
- According to the North Texas Commission, if our region was a state, we’d rank 9th in GDP—higher than the entire state of Georgia!
- Lastly, there are people like me, dedicated to helping you begin an entrepreneurial journey through franchising. This list shows the potential our region has to offer. Are you willing to take advantage of it?
About the Author
Sara Waskow is the Dallas-Fort Worth Market President for FranNet, the nation’s leading franchise consultancy. She’s a career transition specialist whose no-cost, no-obligation expertise matches individuals to business opportunities that best fit their unique goals and talents. Sara is a member of Success North Dallas, the Southlake and Grapevine Chambers of Commerce, and the Cowtown Executives Association. She graduated from Texas A&M University and has lived in the DFW area for over 30 years. She can be reached at [email protected].