Friday, May 27, 2022
Tuesday, May 24, 2022
Monday, May 23, 2022
Best 25 Small Business Ideas in Texas for 2022
The Intensive growth of eleven major industries has created a fantastic environment for franchise business opportunities in Texas. These major industries are mining, construction, manufacturing, trade, Transportation, Utilities, Financial Activities, Professional and Business Services, Education and Health Services, Leisure and Hospitality, and Other Services.
Travel is also an important industry in Texas, and the state is a favorite destination for both domestic and international visitors. Tourism revenues provide significant economic benefits for the Texas economy.
Here is a list of the best businesses to start in Texas with little money:
1. Start an Online Business
If you are looking to make money from the comfort of your home, an online business is a perfect fit. A lot of individuals in Texas make full-time decent earnings through certain online businesses. It can be running a blog, promoting products through affiliate marketing, tutoring, freelance writing, selling courses, and many more.
2. Fitness Center
There is a widespread problem of obesity in Texas. The problem is more observed in children. If you are already a fitness trainer, starting a fitness center is an obvious option. Even you are not, you can talk to the federal association of Professional Trainers and learn from them the requirements to be a fitness trainer.
3. Barber Shop
If you are in the hairstyling industry, consider starting a barbershop in Texas. There is a good demand for professional barber professionals here.
4. Hardware Store
A Hardware store can be a profitable business in Texas. This business requires low startup capital and can be started by anyone as it requires no specific skills. You can also open an online store in order to scale up.
5. Mobile Food Truck
If you enjoy cooking, the mobile truck business can be an ideal business for you. You can hire a vehicle and start selling your food items in the busy commercial areas in various cities of Texas.
6. Coffee Shop
Though a number of coffee shops are seen in plenty in cities like Houston, Dallas, and Austin, there is still a wide scope of establishing a profitable coffee shop business. You need to create an innovative theme-based coffee shop to attract local people in Texas.
7. Beauty Salon
The salon industry has progressed in Texas manifold in recent years. There are many types of salons you can start with. It can be a beauty salon, hair salon, day spa, etc.
8. Electronic Gadget Repairing
If you are good at repairing electronic gadgets like smartphones, tablets, laptops, etc starting a gadget repairing shop is surely going to make decent profits in Texas.
9. Cleaning & Maintenance
A lot many people look for cleaning services in Texas. There are many services you can provide to customers like home cleaning, carpet cleaning, window cleaning, garbage removal, etc.
10. Day Care
There is a good demand for professional daycare centers here in this state. If you enjoy spending time with kids, starting a daycare business will not only give you satisfaction but also a good income opportunity.
If you are a teacher or specialized in certain subjects or subjects, parents in Texas will not mind paying more for your services to their child. You can start a tutoring business right from your home.
12. Pet Store
The pet store business has grown in Texas in recent years. You can provide services like pet daycare, pet raining, etc.
13. Open a Fast Food Restaurant in Texas
Fast Food restaurant in Texas is perhaps the most happening food-related business in this state. If you have a retail space with good footfall, starting a fast food restaurant is always a profitable business opportunity here.
14. Recycling Business
There is a good demand for recycling services in Texas. You can start a small recycling plant and process used waste materials like plastic, scrap metals, paper, glass, and many more.
After processing, you can sell those usable materials to manufacturers and other buyers. This is not only a very profitable business but also a rewarding one as you contribute to cleaning the environment at large.
15. Gift Shop
If you go around the state of Texas, you will find a lot of gift shops in cities like Houston, Dallas, and Austin. There is still a wide scope for new gift shops as the demand is much more than the supply.
16. Appliance Repairing Business
Appliance repairing is another inflation-free business you can start in Texas. If you have some experience in repairing certain kinds of appliances, this business can surely fetch you good returns as there will be no dearth of customers.
17. Small Construction Company
If you have some experience in the construction field, Texas is a good place to launch a small-scale construction company. However, you will need a reasonable investment to start this business.
18. Open a Real Estate Business in Texas
People in most cities in Texas, always look for good and affordable accommodation facilities. People having good communication skills can consider starting a real estate brokerage firm.
19. Legal Consultancy Services
Legal professionals are in high demand in Texas. If you have experience in law, starting a legal consultancy firm is a good option.
20. Digital Marketing Agency
Like any other place in the United States, almost every company in Texas takes a lot of interest in promoting products or services online. People having experience in the digital industry can start a digital marketing agency here in this part of the world.
21. Open a Laundromat Business in Texas
Laundry is an all-season business all across the globe. And so is in Texas. Furthermore, one does not need much investment to open a laundromat business.
22. Pool Cleaning & Maintenance
There is a big demand for pool cleaning professionals in Texas. However, unless you have previous experience in the industry, it would be difficult to be successful.
23. Recruitment Service
As the city is a hub of many small and big companies, there is always a demand for recruiting employees. It is without saying, People having past experience in the industry will have added advantage in the recruitment business.
24. Provide Assisted Living Facility Services in Texas
The demand for facilities for elderly and disabled people is growing in Texas. As a matter of fact, the US Census estimates 20% of the population in 2050 to be aged 65 and more. It is therefore, we can easily say that the business of assisted living facilities has a bright future.
25. Medical Billing
Everybody knows that medical centers, hospitals, and practitioners bill patients for a wide range of services. It can be health check-ups, testing, surgeries, and many more. The job of a medical biller is to process those bills and follow up with insurance companies for claim settlement. If you have some experience in medical billing processes, it is no doubt a profitable business to start in Texas.
How to Start a Business in Texas
- If you are looking forward to starting a business in Texas, there are certain legal steps you need to follow.Decide on a Business Structure – It can be a DBA, LLC, or a Corporation.
- Appoint a Registered Agent for company formation and filing purposes.
- Pick a Business Name – Check the name with US Patent and Trademark Office (USPTO) and also search whether a relevant business domain name is available or not.
- Register the Business – Check top LLC service providers in the United States.
- Obtain your Federal Employer Identification Number (FEIN or “EIN”)
- Register for Taxes – The Comptroller of Public Accounts handles state tax filings.
- Create a Business Bank Account.
- Get licenses and permits required to conduct the chosen business.
As per the latest report from the official report from U.S Small Business Administration(SBA), at present, there are 2,627,724 small businesses operating in Texas. Furthermore, the percentage of small business companies out of the total business establishments is 99.78.
We therefore can easily conclude that the city of Texas is one of the places to start and run a business across the globe. We hope, this list of best business ideas and opportunities and startup guide will help you in launching your own company in Texas.
Wednesday, May 18, 2022
American Leadership Forum (ALF): Donation Opportunity
I’m thrilled to share that I’ve been accepted into the 2022 Class 56 of the American Leadership Forum Houston/Gulf Coast Chapter, and I need your help to participate. My application was chosen from more than 230 applicants to fill one of the 26 slots open this year.
They were impressed with why I started STC Consulting: to increase business financial literacy among the Latino community. The higher the financial expertise, the higher the chances to thrive and impact the community.
This Leadership Forum is a prestigious opportunity for me to grow my mission to promote financial literacy and support Latino and other diverse small business owners in Houston.
How does it work?
The American Leadership Forum (ALF) is a nonprofit organization whose mission is “to join and strengthen diverse leaders to serve the common good.” Link: https://www.alfhouston.com/
This is a transformative 12-month leadership program designed to develop skills and knowledge in transformation dialogue, adaptive and collaborative leadership, emotional intelligence, and social change. The program also emphasizes inner reflection and personal growth as essential components of effective servant-focused leadership.
ALF provides the opportunity to broaden and strengthen my leadership so I can make a bigger impact by sharing my knowledge and expertise as an immigrant, woman, entrepreneur, executive, financial public speaker, role model, and more.
How can you help?
I have been awarded a partial scholarship, but I still must cover the balance of the tuition, which is: $5,000.00. So, I am asking you to make a tax-deductible donation toward this fundraising goal by Friday, June 24th, 2022. Choose the tier of giving that works best for you:
Platinum Donors of $500.00 or more will receive a 2-hr hour Financial Management Consultation (*).
Gold Donors of at least $250.00 will receive a 1-hr Financial Management Consultation (*).
Silver Donors of at least $100.00 will be invited to a 1-hr Zoom call for Questions & Answers on topics related to Financial Management and Business.
If you cannot give in these amounts, any amount will mean the world to me.
(*) In your consultations, we can work on budgets, financial goals for 2022, profit and loss forecasts, financial literacy, how to start a business, and many other key business financial topics.
How to donate?
You can go to the ALF donations form and be sure to include in the Special Instructions that you’re supporting me, Soledad Tanner. (**). This is a tax-deductible donation. If you donate directly to ALF, please send me a copy of your donation confirmation to thank you personally.
If you prefer to send the donation directly to me, that will work too. You can transfer using Zelle (You can find me with my mobile number (832) 998-2136 or my email address: Soledad@SoledadTanner.com) or mail a check mail to: Soledad Tanner at 2503 Robinhood Dr. Suite # 150, Houston, TX 77005. This is not a tax-deductible donation.
You’ll support me in helping me share +30 years of experience helping small, medium, and large businesses start and scale widely—significantly to uplift minority communities.
Thank you in advance for your generosity! I sincerely appreciate it!! Muchas gracias,
Soledad Tanner, MIB
The future of finance is sustainable—and profitable
The finance ecosystem—clients and employees, shareholders and stakeholders—is striving for purpose and sustainability. Environmental, social and governance (ESG) considerations are at the forefront of financial decisions, supported by the Sustainable Development Goals (SDGs) and increased awareness of the climate emergency.
Sustainable finance is sometimes referred to as green finance, but it’s not just about reducing emissions or preventing environmental damage.
- Environmental concerns include air and water pollution, deforestation and biodiversity. More generally, they relate to how a company performs as a steward of nature.
- Social factors reveal how well a company manages relationships with employees, suppliers, customers and the communities with which it engages. Social issues vary from diversity in the workplace to human rights and labor standards across the supply chain.
The importance of sustainable finance was explained succinctly last year by James Gorman, CEO of Morgan Stanley: “If we don’t have a planet, we’re not going to have a very good financial system.”
There is a sense of inevitability in the transition to green finance. Brian Deese, global head of sustainable investing at BlackRock, said the move to sustainable finance was out of “necessity” as well as “preference”. Mark Carney stated, “Companies that don’t adapt will go bankrupt without question.”
Recently, attitudes have started to change, and the private sector is beginning to take its commitment to the environment seriously. Even oil major Royal Dutch Shell Plc and mining giant Glencore Plc have set environmental targets for the first time.
- Thirty-one percent of American consumers say they have rewarded companies that are taking steps to reduce global warming by purchasing their products in the last year.
- Twenty-one percent of American consumers say they have punished companies for opposing climate action by avoiding their products.
- In a Unilever study, 21 percent of the people surveyed across five countries said they would actively choose brands if they made their sustainability credentials clearer on their packaging or in their marketing.
- Shoppers say they feel better when they buy products that are sustainably produced (53 percent in UK, 78 percent in US, 88 percent in India).
Fjord crowdsources the trends that will shape the business and technology landscape over the next year. The 2020 trends identified ‘The Many Faces of Growth.’
Financial growth is no longer a firm’s sole performance metric. Non-financial objectives, particularly ESG criteria, are gaining traction. Consumers want companies to be mission-driven as well as focused on generating shareholder value.
This may explain the success of Patagonia. Since 1973, the outdoor-clothing retail chain estimated by Forbes to be worth $750 million in 2015 has donated over $185 million to environmental groups and conservation efforts, and invested a further $38 million in socially responsible companies.
“It’s time for a new capitalism—a more fair, equal and sustainable capitalism that actually works for everyone, and where businesses don’t just take from society, but truly give back and have a positive impact.”
–Marc Benioff, CEO, Salesforce
Banks and investment management companies are following the trend. BlackRock has launched a circular economy fund in partnership with the Ellen MacArthur Foundation, with the goal of mitigating climate change, biodiversity loss and pollution. The actively managed fund started with $20 million seed capital in October 2019, investing in companies that are adopters, enablers or beneficiaries of circular economy activities. Among them is Adidas, which is tackling the issue of plastic waste with a closed-loop production model.
“To be well-positioned for the future, businesses are acknowledging that their long-term value is increasingly linked to their principles, practices and impact on society.”
–Rachel Lord, Head of EMEA, BlackRock
NatWest Group’s corporate strategy is focused on purpose-led banking. New CEO Alison Rose has committed to environmental measures, such as becoming carbon net neutral in 2020 and carbon positive by 2025, as part of a wider initiative to become a more sustainable business. The not-for-profit A Blueprint for Better Business has co-created a framework, which sets out NatWest’s commitment to be a good corporate citizen and a “responsible and responsive employer.
Since the 1960s, the economist Milton Friedman argued that regulation and interference from “big government” would always damage the macro economy.1 Classical economic theory stated that the valuation of a company or asset should be predicated almost exclusively on the bottom line.
However, adherence to ESG criteria allows investors to avoid companies whose practices could signal a risk factor. BP’s 2010 oil spill and Volkswagen’s emissions scandal are just two examples of ESG failures that caused stock prices to plummet and resulted in billions of dollars in associated losses.
A 2014 study by Eccles et al. showed that companies that adopted ESG policies in the 1990s have outperformed those that did not. Using a matched sample of 180 US-based companies, 90 of which were classified as high-sustainability and another 90 as low-sustainability, the study showed that over an 18-year period the high-sustainability companies dramatically outperformed the low-sustainability ones in terms of both stock market and accounting performance.
This is corroborated by an Oxford University study, which finds a “remarkable correlation between diligent sustainability business practices and economic performance.” There seems to be little doubt that environmental, social and corporate governance responsibility is complementary to profitability and return on investment.
Sustainable firms attract and keep better skilled and more committed employees and have more loyal customers. Their stronger relationships with stakeholders mean, in turn, that their social license to operate is more secure.
In my next post, I’ll explore how companies can leverage data and technology to become more sustainable and profitable.
Tuesday, May 17, 2022
Wednesday, May 11, 2022
You Just Turned 40: Here's Why Now Is The Time To Start A Company
When we think of high-growth, venture-backed founders, we often think of young founders who weren’t a day over 22 when they started their companies. We think of people like Mark Zuckerberg, Bill Gates and Steve Jobs.
However, findings published by MIT have found that the average age of startup founders is actually 45. So, while some people may not realize it, those older than 40 can have great success starting their own companies. Rather than thinking it’s too late, here’s why 40 is a great time to start your business:
You have access to capital, both human and financial.
Normally when one thinks of capital, they automatically think of financial. While this is true, there are other forms of capital that are essential for starting a company, one being human capital.
This type of capital involves a deep network and long-standing partnerships that can help add structure, credibility and resources to the company you want to create. Younger entrepreneurs are less likely to have had the time to network and develop these important business relationships.
Time brings the ability to store up a greater amount of capital compared to someone in their 20s who has lived half as long. By capital, I don’t just mean financial capital, though you likely have managed to create more significant assets and have a better chance of bootstrapping your startup.
You know who you are and make good decisions because of it.
Much of our lives are spent trying to figure out who we are and what we want. As a midpoint in your life, your 40s often clarify some of those questions. A strong sense of self is valuable for business owners because it becomes much easier to determine what to delegate, how you can use your skills appropriately and how you can identify and select the right talent that fits your values and goals.
Just because I was older didn’t mean I had all the answers, so I found it extremely valuable to lean on others who had specific expertise that I may have been lacking. Being older and not having the fear of asking for help was extremely valuable for me.
You’re good at prioritizing work and life.
This is one of Clayton Christianson’s main points in his book How Will You Measure Your Life? He saw hundreds of people coming back with degrees from Harvard divorced and unhappy because they lacked the ability to prioritize well. Learning how to balance life takes time, and if you’re over 40, you’ve had some practice.
At 40, you probably have more responsibilities and demands. Depending on your own situation, you may have a family and numerous tasks outside of work that put more demands on your time than if you were in your 20s.
However, you also may have the wisdom, patience and maturity to better understand how to balance those tasks and responsibilities. For me, having a family as a support unit is a tremendous asset, not a hindrance to business success. They have given me the motivation, assistance and confidence to see my startup through and continue growing it into a flourishing business.
If you’re older than 40, now may be the right time to take the leap.
You may be the ideal candidate to become a startup founder if you are in your 40s. Remember, age is mostly just a number. No matter what age you are, you will need to consider those impacted by this decision, your financial position and your life goals. That’s why your mindset, as opposed to just your physical age, becomes a big part of how you approach the idea of starting a business.
Tuesday, May 10, 2022
Tuesday, May 3, 2022
Monday, May 2, 2022
Married mothers take on more housework even when they out-earn their husbands
Good morning, Broadsheet readers! President Biden chooses a nominee to serve as ambassador to Ukraine, Elon Musk’s purchase of Twitter could affect the future of content moderation on the platform, and becoming a breadwinner comes with a caveat. Have a great Tuesday.
– Double duty. Changing gender norms around parenthood and work have allowed women to become breadwinners for their families. But some gender norms are particularly stubborn, as Joanna Syrda, a professor at the U.K.-based University of Bath School of Management recently discovered.
In her research, analyzing the relationship between spousal income and the division of housework between partners, Syrda examined more than 6,000 North American dual-earner, mixed-gender couples between 1999 and 2017. She found that as the gender pay gap closes between a husband and wife, the gender housework gap rises—with the woman taking on even more housework as she begins to outearn her husband. The surprising inverse correlation reflects deeply held beliefs about who should be a breadwinner and who should take care of the home, Syrda argues.
See the statistical analysis below from her study “Gendered Housework: Spousal Relative Income, Parenthood and Traditional Gender Identity Norms” published in the journal Work, Employment, and Society. The chart shows a mother’s housework decreasing from 18 to 14 hours a week as she goes from earning no income to about half the household income—and then ticking back up again to almost 16 hours as she exceeds her partner’s salary. The husband’s housework starts around six hours a week when he’s a father and the sole breadwinner, reaching a maximum of just under eight hours before declining as his wife takes on additional housework with her rising income.
It might sound counterintuitive that women breadwinners spend more time on household chores when they earn significantly more than their husbands—and worse still, the data doesn’t even account for gender gaps between time spent by mothers and fathers on childcare. Syrda speculates that heterosexual couples are, perhaps subconsciously, compensating for deviating from the male breadwinner norm. (Past research has shown that men are more likely to exhibit signs of “psychological distress” when their wife earns more money.)
“This is a non-traditional outcome in that she is earning more money than him,” Syrda says. “So to compensate for that, they [follow the norm] traditionally for housework.”
Syrda’s analysis brings to mind a 2019 study I covered for Fortune. Researchers found that married women did more housework than single moms—despite theoretically having a partner at home to share the load. They also found that “marriage remains a gendered institution that ratchets up the demand for housework and childcare through essentialist beliefs that women are naturally focused on home and hearth.”
The question, as Syrda frames it today, is what housework means to us. “Is housework just a sequence of tasks we perform?” she asks. “Or is it a way of constituting and enacting a gender?”
The combination of parenthood and marriage seems to be the defining element here: Syrda didn’t measure the same uptick in household chores for high-earning women who are not mothers. Similarly, the 2019 study focused on motherhood, measuring the difference in household chores for married and single mothers. Parenthood can have a “traditionalizing effect,” Syrda argues, causing even the most progressive of women to adjust their adherence to gender norms as they feel internal and external pressure to excel at motherhood.
By one measure, Syrda’s study could denote progress; there are enough women breadwinners in the dataset to come to these statistically significant conclusions. But it’s hard to celebrate women as their household’s primary financial provider when doing so comes with a performative obligation to do the dishes.