Texas is one of the states that recovered very well after the recession and currently there is a lot of economic optimism in the air. Here are some of the most significant opportunities but also challenges related to the business and construction environment.
Business owners from Texas and especially those in the biggest metro areas, especially the great San Antonio roofing companies report satisfaction and healthy growth in terms business startups. That`s mostly because there are simplified state regulations and no individual or corporate income taxes. In addition, the major metropolitan areas experience a solid growth translated into better economic activity and there is an overall supportive environment for doing businesses.
On the other hand, the biggest challenges are related to the following aspects:
· Limited options to access capital, especially for small and rural businesses (getting a bank loan to start a business is not so easy these days)
· Declining work force – This problem is particularly noticeable in the construction industry, where companies really struggle to find new employees. This crisis was generated by the recession and now is maintained by other factors too: the strong population growth and the lack of interest of the millenials for the professional education in general and for working in constructions in particular.
Source: Live Site