In the post-pandemic world, the need to anchor your business to a single geographic location is a thing of the past. As more and more businesses continue to loosen their “in office” policies or eliminate them entirely, workers have more freedom than ever to work — and earn — anywhere they’d like. So, in a world where many people can work wherever they choose, many are taking off for more entrepreneurial cities. If you can move, only one question matters: where is the best place to live?
Of all the available destinations in the United States, Texas consistently ranks as one of the most appealing for entrepreneurs, freelancers, or solopreneurs who are looking to relocate a business. In fact, the state has three of the 10 Best Cities for Entrepreneurs in 2022, according to The Zebra. With mild weather, a thriving and diverse population, and the 9th largest economy in the world (and growing), it’s no secret that the Lone Star state has seen an exponential influx of people relocating over the past few years. In fact, over 2 million people moved to Texas in 2021 alone. Texas boasts nearly 3 million small businesses and a net increase of both employees and establishments in the past few years.
There’s no doubt Texas remains one of the top destinations in the country for moving your business. But why is Texas thought of by many as the best place for entrepreneurs to live?
A Business-Friendly Environment
Apart from the sunshine, Texas offers a warm climate for businesses of all kinds, consistently ranking as the best state for business in the country. It’s also a magnet for business growth: in the past twelve months, only New York gained more jobs year-over-year than Texas. It’s easy to see why the state remains so attractive to business owners. While Texas’ cost of living is only slightly above the national average, its lack of a personal or corporate income tax offers its residents a well-above-average quality of life.
With one of the most diverse populations in America, it’s no wonder that Texas cities continue to thrive. With three major metropolitan centers in the Top 10 most diverse cities in America, Texas’ cities offer a wealth of culture — whether through their restaurants, cultural institutions, or numerous community centers. This diversity is reflected in the Lone Star state’s business landscape as well, where 1.1 million people are employed by minority-owned small businesses.
If you’re a solopreneur or freelancer, you already know the value of a city’s infrastructure. Your business, especially if it relies on fast internet access, transportation, and reliable utilities, is often only as good as where you live.
In Texas, that’s great news! Despite the state’s large rural areas, wireless internet is available in 100% of the state, and 90% of its residents have access to high-speed internet. And over the next five years, Texas stands to receive an influx of $35 billion in infrastructure funding, a welcome sign to incoming entrepreneurs.
Impressive Real Estate Options
While real estate costs nationwide have skyrocketed, Texas remains one of America’s most affordable states. With plenty of land to build new homes in close proximity to its thriving metropolitan areas, it’s no wonder homebuyers are flocking in particular to new home communities like those developed by Hillwood Communities.
For those who can live and work anywhere they like, the master-planned neighborhoods by Hillwood Communities are an appealing option. Offering a unique combination of innovative neighborhood planning and design choices, the chance to create your new home from the ground up is an opportunity like no other. Designed with modern technological needs in mind, each community also offers incredible amenities like parks, pools, fitness centers and other communal spaces meant to create a sense of community for each unique neighborhood.
FREQUENTLY ASKED QUESTIONS
What are some things to keep in mind before relocating to a new area?
Relocating your business is a complicated question, so it’s important to prioritize factors that affect your bottom line and quality of life. Things like local taxes and regulations, access to talent and global markets, reliable infrastructure, proximity to travel hubs, and the area’s unique culture are all important.
Is Texas good for entrepreneurs?
Yes, it is. Thanks to a business-friendly community and regulatory environment, zero corporate or personal income tax, and access to all the benefits of thriving cities, Texas is considered extremely favorable as a home for entrepreneurs. A recent report ranked Texas as the number one state for small businesses.
How many small businesses are in Texas?
A lot! As of 2020, Texas boasted a little more than 2.8 million small businesses.
Why do businesses come to Texas?
Texas has seen a huge boom in businesses relocating to the Lone Star State over the past few years, and for good reason. A combination of unique advantages — such as a deep and diverse workforce, robust infrastructure, metropolitan quality of life at a significantly lower cost of living, and zero state personal or corporate income tax — draws more and more businesses to Texas each year.
Find Your New Texas Home with Hillwood Communities
If you’re an entrepreneur, solopreneur, or freelancer in the market for a new place to call home, explore your new home options with Hillwood Communities today. Check out our award-winning new home communities in DFW, Austin and Houston and get to know our trusted builder partners.