How to Start a Business in El Paso, TX
El Paso, TX offers business structures for all types of entrepreneurs, including LLCs, corporations, and sole proprietorships. It is important to have a proper plan before starting a small business in El Paso, especially for beginners.
Business Environment in El Paso
El Paso has a proper business environment for all types of entrepreneurs, offering benefits such as business licensing, tax deductions, incentives, and relaxation of business taxes.
Small Business Statistics in El Paso
To give you a better feel for El Paso demographics for small businesses, small business sizes based on the number of employees have been tabulated for businesses in El Paso.
How many businesses are in Texas?
Small businesses make up 99.8% of all businesses in Texas, with over 4 million small business employees in the state. The number of small businesses across the country continues to grow, with the Governor’s Office actively supporting startups and small businesses.
Small Business Trends and Predictions
Small business trends and predictions show that 23% of small businesses closed at the peak of the pandemic in May 2020. Phishing and social engineering account for 57% of cyber attacks on small businesses.
Small Business Owners
Most small business owners in the US are between the ages of 41-56, and 81% of US small businesses have no employees. The SBA defines a small business as having under 500 employees.
Popular Small Business Categories
In Texas City, real estate agencies, construction companies, and consultancies are the most popular and profitable small businesses.
Small Business Software Usage
On average, small businesses use 25-50 software apps, with popular tools including accounting software and time tracking tools. However, 80% of small businesses feel they don’t fully maximize their software tools.
Small Business Profitability
While the first few years can be challenging, 40% of small businesses eventually become profitable, though it may take 2-3 years. Opportunities for entrepreneurs and small businesses continue to expand as the US economy grows.