In recent years, Austin has witnessed a surge in the number of start-ups,which has translated into a significant economic output for the city. According to American City Business Journals’ ranking, Austin is now the best place in the U.S. to start a small business, that is, a company with maximum 99 employees. Factors such as a more permissive legislation, economic conditions and the authorities’ focus on creating possibilities for potential start-ups make Austin a welcoming environment for entrepreneurs.
In fact, according to data from the U.S. Bureau of Economic Analysis, U.S. Census Bureau, and U.S. Bureau of Labor Statistics, the region added 161,210 people between 2011 and 2014. This means that 147 people moved to Austin every day. Statistically, it translates into a 9.1 percentage growth. The number of small businesses has increased 9.7 percent from 2010 to 2013, the highest percentage in the country. In 2013, Austin had 44,163 small businesses, or 2,342 companies for every 100,000 residents.
Small businesses created 35.1 percent of all the jobs in Austin in 2012.
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