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They say everything is bigger in Texas, and that includes the state’s economy. The Lone Star State boasts a gross domestic product of $1.77 trillion – the second largest in the nation. The state is home to 3 million small businesses, which employ 4.9 million people, according to the U.S. Small Business Administration. That’s more than 45.1% of Texas’ private sector workforce. In the fourth quarter of 2021, the state’s economy grew at a rate of 10.1%, outpacing the nation’s rate of 6.9%, as reported by the U.S Bureau of Economic Analysis.The unemployment rate in Texas has plummeted since 2010,…

Albert Einstein's name has become synonymous with the concept of genius. Although he was a theoretical physicist, not an entrepreneur, much of his wisdom remains relevant for small business owners. Here are six of Albert Einstein's best quotes to help inspire you on how to run your small business. 6 business lessons we can learn from Albert EinsteinAlbert Einstein's words of wisdom are definitely applicable to small business owners, even if you didn't know them at the time. Here are six of Albert Einstein's best quotes that you can use as a starting point for new business ideas or changes…

When business growth slows, leaders face a critical dilemma: maintain the status quo and realize that the current strategy needs more time, or recognize that a change of direction is necessary to stay in business. Constantly changing strategy is a clear sign of panic, but knowing when to change strategy decisively is what startup leaders call “the art of pivoting.””The art of pivoting is changing course while pursuing the same original business goal,” entrepreneur James Reinhart told BusinessNewsDaily. “Pivoting isn't about moving from one business model to the next. It's about evolving your service delivery model, monetization and growth strategy.”What…

Starting a business takes a lot of time and energy, so it's essential to be passionate about your business idea. But passion alone isn't enough. You also need to understand whether your business idea is feasible and whether your personal investment is worth the sacrifice. To help budding entrepreneurs, we explain what a good business idea means, how to determine if you have a good business idea, and how to generate a new business plan.How to determine if you have a good business ideaSometimes the challenge isn't inspiration, but determining if you have a good idea. It's important to critique…

Small businesses often succeed because of their expertise in manufacturing products and providing services. Unfortunately, you may not be an expert in other important parts of running a business, such as financial management. It can be difficult if you don't have much experience managing your business' finances, but it's also important to the survival of your business. Learn how to establish responsible financial habits that will help your business succeed.Small business financial management tipsHere are some things small business owners should do to stay on top of their finances.1. Pay for it yourself.If you run a small to medium-sized business…

Homebuyers, entrepreneurs, and public servants are facing a new reality. If you want to hold off on making big purchases or investments until borrowing costs are lower, you'll probably have to wait a long time.Governments are borrowing more money to build new schools and parks. Developers are having trouble finding loans to buy land and build homes. Companies that are forced to refinance their debt at rapidly higher interest rates are more likely to lay off employees, especially if they are already operating with little or no profits.Over the past few weeks, investors have noticed that market-based measures of long-term…

Williams-Sonoma's business is all about B2B e-commerce Home decor chain retailer Williams-Sonoma Inc. was one of the earliest chain retailers to fully embrace B2C e-commerce. Today, Williams-Sonoma is fully focused on another e-commerce market: business-to-business. Williams-Sonoma is #22 on the Digital Commerce 360 ​​Top 1000. This database ranks North America's largest online retailers by their web sales. Williams Sonoma B2B Sales CEO Laura Alber told analysts on a recent earnings call that B2B has already become a significant omnichannel sales channel. “We set an ambitious goal this year to reach $1 billion in B2B business demand, and with 27% year-over-year…

Small businesses that expand globally are likely to grow faster and employ more people.getty Written by Riva Lesonsky According to the seventh edition of Visa's Global Back to Business Study, small and medium-sized businesses (SMBs) are looking “beyond Main Street” and “plan to prioritize cross-border sales.” And American companies aren't the only ones with global growth in mind. The study surveyed consumers and small businesses in 10 international markets: Australia, Brazil, Canada, Germany, Hong Kong, Ireland, New Zealand, Singapore, United Arab Emirates (UAE) and the United States. This global movement is being driven, in part, by entrepreneurs' adoption of new…

History shows that small-cap stocks are much more closely tied to domestic business cycles than large-cap stocks. As a result, recessions often provide exceptional buying opportunities for these stocks once the cathartic final “dip” that often accompanies the onset of a recession has broken off. The fact that the current economy has not yet entered a recession suggests that investors may be wondering whether the economy continues to expand, limiting the potential for expected future rate cuts, or whether rising interest rates will eventually lead to “something.'' They are wary that this could lead to the collapse of small and…

Fidelis Cruz is the founder of Kingdom Women Entrepreneurs, an organization that empowers Christian women in business and helps them pursue their dreams. Her Fidelis calls her organization a sister community for vision builders, boundary breakers, and passionate people. They are called and anointed to shine in their uniqueness. Fidelis is also a certified life coach and won the 2018/19 International Coach of the Year award. She has connected thousands of women around the world and believes there is great power when women come together and encourage each other. Fidelis recently joined us 2020 She shares her heart for community…