Team Strategar has compiled a robust report looking at the FY 22 HUB report and the American Business Survey provided by the Census. There are some very compelling points on why H.B. 5140 should be thrown out of the committee.
Some highlights you don’t want to miss:
– 129,353 minority-owned companies are in Texas, but only 11,366 are registered HUBs
– Minority-owned companies are an economic engine for Texas, paying taxes and contributing $42 billion to the state’s payroll
– 73% of these businesses are considered small businesses (under $1 million in annual receipts)
– Likely due to criteria, including being a U.S. citizen, there were 16,528 Texas HUBs, in fiscal year 22 (this includes 4,866 non ethnic women-owned companies and 296 service disabled veteran companies)
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