The city’s Office of Economic Development recently updated the Irving City Council on its Small Business Initiative and reported on the results of last year’s survey of small businesses. Armed with new information, Economic Development plans to revamp its current Small Business Incentive Program to meet the needs of today’s small businesses.
Interesting Survey Facts
The survey of small businesses conducted last year yielded an interesting demographic profile.
- Of those who responded to the survey, home-based businesses made up almost 46%, followed by 22% with a retail store front.
- Nearly half of the respondents (49.6%) have been in business more than 10 years.
- More than 87% have less than 10 employees.
- Woman-owned small businesses made up 51% of the respondents, while 28% were minority-owned and 9% were veteran-owned.
City staff continues to build out the program by creating industry alliances. In addition to working with the Irving-Las Colinas Chamber of Commerce and the Irving Hispanic Chamber of Commerce, Economic Development is looking at resources available through groups such as the U.S. Small Business Administration, Dallas College, University of Dallas and the North Texas Small Business Development Center.
Plans for the upcoming year include more engagement with the small business community and developing a strategy that can work in collaboration with the current small business assistance ecosystem. The department is also examining programs available to small businesses to identify any gaps and ensure the city’s efforts will not duplicate those of other organizations.
For more information, visit CityofIrving.org/SmallBiz.
