Economic inequality is a significant challenge in Texas House District 126, where small businesses struggle to compete with larger chains that dominate the market. Small businesses are essential to the fabric of our community, providing jobs, fostering innovation, and contributing to the district’s unique character. However, these enterprises face numerous obstacles, including limited access to capital, business development resources, and training, which stifle their growth and hinder economic stability. Small business owners are vital to our district, yet many lack the support needed to thrive in today’s competitive environment. Large chains often have the advantage of extensive resources, lower prices, and marketing power that small businesses simply cannot match. As a result, many local businesses struggle to maintain profitability, retain employees, and expand their operations, ultimately affecting job opportunities and the overall economic health of the community.
Challenges Faced by Small Businesses in District 126: – Competition from Large Chains: Large retail and restaurant chains often outcompete small businesses by offering lower prices, a wider selection of products, and extensive marketing reach, which draws customers away from local enterprises. – Limited Access to Capital and Financial Support: Small business owners, especially those from minority communities, frequently face barriers in accessing loans, grants, and other financial support needed for startup costs, expansion, and operational improvements. – Lack of Business Development Resources and Training: Many small businesses lack access to essential resources such as business coaching, marketing assistance, and technology training that are crucial for navigating the complexities of the marketplace and growing their enterprises.
Proposed Actions to Address Economic Inequality and Support Small Businesses in District 126:
I continue to grow my knowledge and my business so I may return to our District and elevate others in business. Our business now is in Aerospace and International and I strive to inspire others to know they, too can be limitless but it takes support. I mentor others often. -Sarah Smith
- Establish a Small Business Resource Hub in District 126 Action: Create a dedicated resource hub that offers free or low-cost access to business coaching, workshops, and resources on marketing, business strategy, financial planning, and technology adoption. This center will also assist small businesses in navigating available grants, loans, and other financial aid options. Measurement: Success will be measured by the number of businesses served annually, with a target of reaching 300 businesses within the first year. Additional metrics will include workshop attendance rates and feedback on the impact of the services provided.
- Launch a District 126 Small Business Grant Program Action: Advocate for the establishment of a grant program to provide financial support to local businesses, particularly those that are minority-owned, women-owned, or in the startup phase. Grants will be allocated for purposes such as technology upgrades, workforce development, and operational expansion. Measurement: Track the number of grants awarded, the amount of funding distributed, and the impact on business growth and job creation, aiming to support at least 50 businesses annually with an increase in local employment.
- Promote a “Shop Local, Support Local” Campaign Action: Develop a community-wide initiative to encourage residents to shop at local businesses. This campaign will include promotional events, marketing through social media, and partnerships with local influencers and community groups to drive awareness of the value of supporting small businesses. Measurement: Measure success by tracking increases in sales and foot traffic at participating businesses, aiming for a 20% boost in local shopping within the first year of the campaign.
- Expand Access to Affordable Commercial Spaces Action: Work with city officials and property owners to provide affordable retail and office spaces for small businesses, including the development of incubators and co-working spaces that offer lower-cost options for new entrepreneurs. Measurement: Success will be evaluated by the occupancy rates of newly available spaces, with a goal of filling 80% of these spaces within 18 months and supporting new business startups.
- Create Business Networking and Mentorship Programs Action: Establish networking events and mentorship programs that connect small business owners with experienced entrepreneurs, retired professionals, and industry experts who can provide guidance, share knowledge, and offer valuable connections. Measurement: Track participation rates and feedback from mentees, aiming to match 100 businesses with mentors annually and measure improvements in business performance and owner confidence.
Measuring Outcomes of These Actions in District 126:
“A true leader and Texas House Representative must not only take action but make it a priority to measure the impact of those actions. Without accountability and measurable outcomes, we cannot truly serve our community or understand the real effects of our decisions. By measuring our actions, we ensure that we are delivering on our promises, making data-driven improvements, and creating meaningful change that benefits all Texans.” -Sarah Smith
- Small Business Performance Metrics: Collect data on sales growth, job creation, business openings and closures, and survival rates among businesses participating in support programs. Use these metrics to assess the effectiveness of the resource hub, grant program, and other initiatives.
- Community Feedback and Satisfaction Surveys: Conduct surveys with small business owners and community members to gather feedback on the impact of the proposed actions and identify areas for further support or adjustment.
- Economic Impact Reports: Monitor overall economic trends in the district, including changes in employment rates, new business startups, and local economic contributions from small businesses, to evaluate the broader impact of support initiatives.
Addressing Economic Inequality and Small Business Support at the State Level:
- Advocate for State Funding for Small Business Support Programs: I will work to secure state funding for small business development initiatives, including financial assistance, training programs, and access to affordable commercial spaces. State-level funding can amplify the impact of local efforts, providing the necessary resources to sustain and grow small businesses.
- Champion Legislation for Tax Incentives and Financial Support: Support and propose bills that offer tax incentives for small businesses, particularly those that reinvest in their communities, create jobs, and support local economic growth. Advocate for legislation that provides low-interest loans and grants targeted at minority- and women-owned businesses.
- Promote Statewide Business Training and Development Programs: Collaborate with state agencies to develop comprehensive training programs that provide business education accessible to entrepreneurs across Texas. This includes online modules, in-person workshops, and support tailored to the needs of small business owners.
- Reduce Regulatory Barriers for Small Business Owners: Advocate for reducing unnecessary regulatory hurdles that disproportionately impact small businesses, including simplifying licensing processes and reducing administrative burdens, to create a more business-friendly environment.
- Support Statewide “Buy Local” Campaigns: Encourage state-level initiatives that promote local shopping, emphasizing the benefits of supporting small businesses for the state’s economy and community well-being.
Through these actions, I am committed to addressing economic inequality in District 126 and ensuring that our small businesses have the support and resources they need to thrive. By implementing targeted initiatives and advocating for state-level support, we can foster a vibrant, resilient, and inclusive local economy that benefits all residents and strengthens the backbone of our community.