As the holiday season kicks into full swing, an important day shines a spotlight on the backbone of our state’s booming economy – Small Business Saturday, which falls this Saturday, November 30th. We are deeply thankful that our leaders here in Texas have cultivated the top business climate in the nation, allowing small business owners to build and grow their operations, offering unique and innovative products and services that enrich our communities and reflect the historic independent, entrepreneurial spirit that defines the Lone Star state.
With over 3.1 million small businesses in Texas, accounting for 99.8% of all businesses statewide and employing nearly half of the private-sector workforce, small business enterprises are thriving in Texas. Small Business Saturday is more than a day of shopping – it’s a celebration of local entrepreneurs whose innovation and determination drive our economy forward.
Texas has long supported and encouraged tools that incentivize small business creation and growth. The Texas Association of Business (TAB) was proud to support several critical reforms passed by the 88th Texas Legislature that further empower small businesses to grow in Texas, including:
Doubling the exemption threshold for the state franchise tax, from $1.24 million to $2.47 million – which removed approximately 67,000 businesses from the franchise tax rolls;
The Texas Regulatory Consistency Act (HB 2127), which creates a more predictable regulatory climate so that employers can focus on creating jobs and serving their communities, rather than expending resources to comply with ever-changing local regulations; and
The historic $18 billion in property tax relief benefiting both homeowners and businesses, including a three-year limitation on appraisal increases for commercial and non-homesteaded properties valued at $5 million or less.
Additionally, the new Texas Small Business Credit Initiative (TSBCI) allows for a simplified application process for small businesses to grow as well as creates new jobs through increased access to small business funding of up to $472 million. Additionally, the initiative provides small businesses with access to credit, helping them scale operations, hire staff, and innovate.
At TAB, we are proud to count among our members businesses large and small in every industry across the state, and will continue to advocate for policies that allow small businesses to flourish in Texas.
Most importantly, small businesses play a critical role in Texas’s economic resilience. During times of uncertainty, small businesses are often the first to adapt, pivoting to meet new demands and providing stability to local economies. By shopping small, especially during the holiday season, Texans can help these businesses continue to thrive in an ever-changing landscape.
But to keep maintain our robust and competitive small business environment here in Texas, we have to do our part to shop local to support our neighbors and friends working to do their part to build the Texas dream. One local bakery owner in Port Neches put it bluntly this week: “If people don't back small businesses, they're not going to be here!"
Shopping small also celebrates the cultural diversity of Texas. With the growing number of minority and women-owned businesses in the state, with women owning 43.5% of small businesses, supporting local entrepreneurs means embracing the rich mosaic of backgrounds, traditions, and ideas that have come to define the Lone Star State.
As Anette Landeros, President and CEO of the Forth Worth Hispanic Chamber of Commerce, said this week as local businesses prepared for special Small Business Saturday sales:
“Small Business Saturday is more than just a day of shopping — it’s a celebration of the hard-working entrepreneurs who form the backbone of our local economy. Small businesses create jobs, spark innovation and foster a sense of community that large retailers often cannot replicate.”
As Texans, we take pride in our entrepreneurial spirit and our strong communities. Small Business Saturday is our chance to demonstrate Texas pride by supporting the local businesses that make Texas the global economic powerhouse it is today.
For more information on resources for small businesses or to learn how to start your own, we encourage you to visit the Governor’s Small Business Resource Portal.
Happy Thanksgiving, and remember to shop small, and shop local this Saturday!
- Glenn Hamer, President & CEO, Texas Association of Business