Small businesses are a critical component of the Texas and Rio Grande Valley economies and are essential to the well-being of the nation. According to the U.S. Small Business Administration, small businesses in Texas employ 4.1 million workers—over 46 percent of the private-sector labor force in the state! In the aftermath of the Great Recession, small business growth declined nationwide at a disproportionately higher rate than larger businesses. However, recent reports indicate that small businesses are rebounding, with Texas growth rates among the strongest.
To learn more about the challenges and successes of small businesses across the state, the Federal Reserve Bank of Dallas’ Community Development Office has launched the Texas Small Business Needs Assessment Poll, a partnership with the Texas Small Business Development Center Network. This survey focuses on small business needs in Texas and contains questions on firm size, performance, strategy, financing, and employee skills.
Please share your input! The responses collected will be critical in helping us identify emerging issues and areas of strength and areas of needed improvement in the small business community.