Calling all entrepreneurs

Texas ranks No. 3 best state to start a business in U.S., report says

Texas ranked behind Utah, No. 1, and Florida, No. 2.

Courtesy photo

For years, Texas has been lauded for its business climate being welcoming to new businesses and startups. A new study shows that the Lone Star State has yet again made the list.

Texas ranked third in personal finance website WalletHub's recent report, 2023's Best & Worst States to Start a Business, with a score of 56.85 points. Texas ranked behind Utah, No. 1, and Florida, No. 2, and just ahead of Colorado. Idaho, Georgia, Arizona, Nevada, Oklahoma, and California make up the rest of the top 10, respectively.

The study looked at 27 key indicators of startup success across all 50 states. Texas was recognized for these factors in particular:

No. 10 – average growth in number of small businesses
No. 30 – labor costs
No. 10 – availability of human capital
No. 4 – average length of work week (in hours)
No. 14 – cost of living
No. 13 – industry variety
No. 31 – percentage of residents who are fully vaccinated against COVID-19

Source: WalletHub

Richard Ryffel, professor of finance practice at Washington University in St. Louis, noted the importance of policy in making a state a good place to start a business.

"Established businesses looking to expand might expand or relocate entirely based on the relative favorability of the local business climate," Ryffel says. "Recently, Texas, for example, has been the beneficiary of some significant business relocations based on its business-friendly policies."

The methodology of the study focused on three key dimensions — business environment, access to resources, and business costs — and 27 relevant metrics. Each metric was graded on a 100-point scale, and then each state’s average across all metrics was used to calculate its overall score.

In fall 2022, Dallas ranked No. 8 on 42Floors' list of best U.S. metros to start a business.

Earlier that year, WalletHub named Farmers Branch one of the best small cities in Texas for starting a business. It appeared at No. 102 on the list overall, and No. 2 in Texas. Other DFW cities in the survey included Haltom City (No. 406), The Colony (No. 436), Grapevine (No. 457), and Flower Mound (No. 733).

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This article originally appeared on our sister site InnovationMap.

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Women Rule

Carrollton CEO makes list of fastest growing women businesses in U.S.

Buzzballs

Buzzballs' Merrilee Kick

A CEO based in Carrollton was recently named one of the fastest-growing women-led businesses in the United States: Merrilee Kick, founder of spherical cocktail brand BuzzBallz, made the top five on nonprofit Women President Organization's 50 Fastest Growing Women-Owned/Led Companies list.

BuzzBallz, which is in the fourth spot on the list, was founded by Kick in 2009 and acquired by spirits company Sazerac in 2024. Following a career as a high school teacher, Kick decided to create ready-to-drink cocktails, such as martinis and margaritas, served in a plastic can rather than a glass.

To be considered for this list, businesses must operate under the leadership of a woman, and have a minimum of $500,000 in annual revenue for each of the previous five years. Plus, they must have sustained substantial year-over-year growth, demonstrating post-pandemic recovery in industries like travel and hospitality, health and wellness, manufacturing, and food and beverage.

The top five include:

Collette led by President and CEO Jaclyn Leibl-Cote, based in Pawtucket, Rhode Island
Unite Digital led by President and CEO Stacey Coopes, based in Bloomfield Hills, Michigan
Embark Beyond led by Co-founder and Managing Partner Julie Danziger, based in New York City, New York
BuzzBallz (Southern Champion) led by CEO and Founder Merrilee Kick, based in Carrollton, Texas
Cymbiotika led by CEO Durana Elmi, based in San Diego, California

Kick joins two other Texas business owners on the list — both in Houston — including Pamela Chambers O'Rourke, founder and CEO of Icon Information Consultants, and Tara Harmon-Kramer, owner of Meltar Supply, at sixth and 23rd place on the list respectively.

According to a release, businesses on this year’s list collectively generated more than $7 billion in gross revenue, and employed more than 15,000 people, in 2024.

Most of the selected companies offer remote work arrangements and parental leave, and company milestones included major contracts secured and national retailer launches.

“With a strong commitment to innovation, purpose, and people, these companies exemplify the essential role women-owned and led businesses play in building a more sustainable and inclusive economy," says CEO of the Women Presidents Organization Camille Burns in a statement. "This recognition is more than a milestone — it’s a powerful affirmation of the transformative influence women have in shaping modern business."

The 50 Fastest list is sponsored by J.P. Morgan Commercial Banking, and participation was open to all qualifying businesses.

A comprehensive evaluation process then ranked all eligible companies using a proprietary sales growth formula that factored in both percentage and absolute growth, finalizing the WPO’s selection of the top 50 performers for recognition.

Honorees will be recognized during a ceremony at the WPO Entrepreneurial Excellence Forum at The Hyatt Regency Hill Country Resort in San Antonio on May 8.

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Women Rule

Carrollton CEO makes list of fastest growing women businesses in U.S.