(AUSTIN) — Recent studies rank Texas high for the growth and economic success of its women-owned firms. The state ties for first in the nation for economic “clout” – a measure combining the growth in the number, employment and revenues of women-owned firms. And Austin, San Antonio, Dallas and Houston are among the top U.S. metropolitan areas for such businesses.
Yet there’s still room for improvement. Texas-based, women-owned firms with employees made up just one-fifth of the state total and less than 5 percent of annual payrolls, according to a recent U.S. Census Bureau survey.
In this issue of Fiscal Notes, we interview some prominent Texas businesswomen and examine the challenges and opportunities they face, while highlighting the ways in which state government tries to encourage their success.
“I’m proud of the fact that Texas is one of the best states in the nation for women-owned businesses to put down roots and grow,” Texas Comptroller Glenn Hegar said. “Their numbers, revenues, job counts and economic clout continue to smash glass ceilings.”
In this issue, we also continue our “Inside the Comptroller’s Office” series with a look at the work of our Audit Division, which is responsible for ensuring businesses and individuals pay the appropriate state taxes.
Fiscal Notes helps promote and further explain the Comptroller’s constitutional responsibility to monitor the state’s economy and estimate state government revenues. It has been published since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller’s office.