Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates the majority of the budget of more than $55,671.00 million dollars in grants and additional $35,330.00 million dollars of funding sources from local governments annually into the business sector since small businesses and large corporations are the backbone of the economic growth of Texas. In the state of Texas has 392,378 businesses, and they are broken down into the following:
Texas Business Sector Breakdown by Size
- 225,599 registered businesses in Texas have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 70,517 registered businesses in Texas have 5 to 9 employees.
- 43,826 registered businesses in Texas have 10-19 employees.
- 38,385 registered businesses in Texas have 20-99 employees.
- 8,755 registered businesses in Texas have 100 to 499 employees.
- Over 5,296 registered businesses in Texas have over 500 employees.
Texas Business Sector Breakdown in Service Industries
- 58,176 registered businesses in Texas are part of the Professional, Scientific and Technical Services sector.
- 25,854 registered businesses in Texas are in the Administrative, Support, Waste Management, and Remediation Services sector.
- 43,907 registered businesses in Texas belong in the Accommodation and Food Services sector.
- More than 47,995 registered businesses in Texas are also service orientated businesses, but are not included in the categories above.
You may also be eligible for grants to apply for small businesses if you work in the agriculture industry. In the state of Texas, there are more than 247,000 farms.
Small Businesses in Texas
It is difficult to start and manage a small business in Texas. More than $376,647,000,000.00 US Dollars are spent on employee salaries/payroll alone in the state, and every year, over 57,810 businesses declare bankruptcy. The federal government doesn’t provide grants publicly for expanding or starting a business. However, some small business grants can be given in Texas to help business owners start and grow their ventures. Moreover, grant recipients don’t have to repay the government funding. So, it is worth looking into small business grants to help fund your business.
Contact Texas financial aid agencies to apply for business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: