The San Antonio, Texas Business Climate Published May 28, 2019 | By Achim Neumann, President San Antonio is currently experiencing a population boom because of its economic standing. The city ranks as the third-largest GDP across the country with an overall performance that surpasses Seattle and San Francisco. This does not come as a surprise because the city has been performing well in providing investors with a contingent of highly skilled workforce and a business environment that fosters growth of a large, sprawling metropolitan area close with the border of Mexico. Also, among the top reasons why most investors choose to buy or sell their businesses in the city is because of its suitable geographic location. Small and large-scale businesses enjoy a heightened sense of visibility because San Antonio’s siphon market on the border with Latin America. A Tapestry of Unique Culture and History San Antonio’s geographic location has always been one of its advantages because of the mix of influences. This has been one of the city’s greatest strengths, providing business owners with a diversity of different cultures. San Antonio was a military center during the two World Wars. The city also witnessed the Texas and Mexican Revolution. This makes the city not just historical, but a place for that business owners appreciate because of its significant contribution to the uniqueness of American heritage. San Antonio opens the gateway to the South allowing the local economy to thrive. Low Imposed Taxes and Less Demanding Business Regulations In general, the State of Texas has always imposed almost no personal and corporate tax. Of the 52 states in the country, only Texas including the city of San Antonio has the lowest tax demands on its residents and businesses. The local government also provides tax exemptions for machinery and manufacturing equipment sales, solar energy devices, software sales, and R&D related materials. People enjoy property tax abatements and business owners’ get local cash funding and assistance for their trade and commerce from the state. Highly Skilled Workforce San Antonio is considered as an economic powerhouse not only because most companies flock to the city, but also because of the availability of highly skilled workers. San Antonio contributes to the state’s record of having the second biggest civilian workforce with over 13 million people from across the state working for a melange of industries. The city, in particular, emerged as the fastest growing city between the years 2016 and 2017. Not only is the growth attributed to a welcoming business environment, but also because of the affordability of basic necessities. The city has ranked a top state to go to when starting a business and measured based on competitiveness and business-friendly atmosphere. Economic Strength Out of all the qualities of the San Antonio business climate, one thing that stands out is its industrial strength. San Antonio’s economy contributes to the overall financial muscles of the entire state. A powerhouse in itself, the city is a booming energy sphere with a flourishing blend of sectors that includes technology, manufacturing, health care, and sciences. Whether you’re looking to buy a business in San Antonio, get a qualified third-party business valuation in San Antonio, or sell a business in San Antonio. Our team of Business Brokers in San Antonio here at A. Neumann & Associates is here to help at a moment’s notice. Don’t hesitate to reach out.