Texans remain optimistic about economic conditions

6/22/2011

Entrepreneurs in Texas are optimistic about their local economy, despite acknowledging several barriers preventing them from making full-scale recoveries, according to a new report from Texas Lyceum.

The poll, which was conducted at the end of May, indicates 60 percent of Texans feel the local economy is performing better than the rest of the country as a whole, with only 10 percent believing the state was worse off.

"Most Texans remain relatively upbeat about the state’s economy, which makes some sense given the state’s job situation, housing market, and tax rates," said UT Austin Professor Daron Shaw, who has conducted the Texas Lyceum Poll for five years in a row

Still, many are doubtful the national economy will be able to make any meaningful improvements over the next year.

Texas is a popular startup location for many entrepreneurs as the state offers low business taxes. At a time when small business lending is still a sticking point for many companies, the relatively low tax rate is a big benefit when choosing where to start a new organization.