In a study conducted by the personal finance website Smart Asset, Dallas County is ranked as the No. 1 place in Texas for small business owners and ranks as No. 4 nationally.
The website bases its findings on three factors: the number of small businesses operating in each county, what they pay in taxes, and how much income the companies produce. Then, they weigh each data set to create an index score, with 100 being the maximum number. After not appearing in the national top ten in 2020, this year, Dallas County received a score of 94.26.
The Dallas Economic Development website says that small businesses make up close to 80 percent of businesses in Dallas and employ almost 40 percent of those who work in the city.
“Small businesses account for a significant number of jobs and play a key role in growing tax revenue. Small business is fundamental to workforce development, especially in minority, immigrant, and under-educated population communities,” the website states.
Along with Smart Asset’s study, some other sites support North Texas’ ranking:
- ValuePenguin, a personal finance site, ranked Dallas-Fort Worth as the United State’s sixth-best area for small businesses in March.
- A study released in October by LendingTree placed DFW at the No. 19 spot for regions in the U.S. to develop a small business.
- Another personal finance website, WalletHub, rated Forth Worth in ninth place, and Dallas was positioned in 14th place when it comes to areas to build your business.
According to Smart Asset, some of the other successful counties in Texas for small businesses are Galveston County, which came in second, and Haskell County, which ranked third.
For those interested in starting a small business, the Dallas Economic Development agency offers a free downloadable guide on its website.
