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From the monthly archives: September 2007

We are pleased to present below all posts archived in 'September 2007'. If you still can't find what you are looking for, try using the search box.

Houston Businesses Continuing to Fuel Economy - Add Jobs

Houston Businesses keep economic engine pumping, maintaining the City's position as one of the fastest growing employment cities in the U.S.Texas was fifth in the nation for August non-farm job gains, according to the Bureau of Labor Statistics.Employment in the Houston Metropolitan Area was up by 8,600 jobs in August compared with July and by 64,400 compared with August 2006. The unemployment rate was 4.1 percent, down from 4.6 percent in July and 5 percent in August 2006 according to Texas Workforce Commission September 2007 report.In Texas as a whole the unemployment rate fell to 4.2 percent in August, down last month’s 4.4 percent, and down significantly from 4.9 percent a year ago. Employment in Texas remains strong, despite the U.S. economy’s loss of 4,000 jobs this month. Texas employers have added 229,000 jobs in the past year.The job figures indicate relatively good economic health in Texas even as the national economy appears vulnerable to a slowdown."The state economy is still growing strongly," sa ...

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Don't Start a New Business -- Buy an Existing Business

Don't start it, buy it! Why should you buy a business versus start a new one? Here are ten solid reasons: (1) The success rate for existing businesses purchased is significantly higher than the success rate for a new business startup. Statistics indicate a 90% failure rate for new business ventures within five years, while business brokers report that 70% of businesses they sold are still in business five years later. (Economist, Brian Headd, with SBA Office of Advocacy, report -- Redefining Business Success: Distinguishing Between Closure and Failure.) (2) An established customer base means immediate cash flow! (3) Bank finance options: It is much easier to find capital to buy an existing business than to start a new one. Why? Banks know the statistics. Bankers are much more willing to lend money when there is an identified source of repayment already in place (i.e. cash flow). (4) Seller financing: Many sellers of existing businesses are willing to provide financing at very reasonable terms. Wh ...

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Selling a Business - What's Involved

National statistics show that over 70% of all businesses on the market, are not sold. Why is this?The two strongest reasons for failure are lack of preparation and an unrealistic selling price. Valuing a business correctly tends to resolve the unrealistic selling price problem. Know when to hold the price and when to change the price also helps businesses sell quicker. But, what about the preparation points?Lets discuss the various factors that can help you get fully prepared when selling your business.The decision to sell – People decide to sell their businesses for many different reasons. Another truly legitimate reason is if a business owner’s health is going down hill. Lastly, sometimes it is just time to retire, and play golf or travel. Whatever your reason, it is important to identify exactly what the reason is that you want to sell your business, and to be totally honest with yourself and others on this point. The reason you might be selling does not adversely affect the selling price, but it may help ...

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Houston's Economy Forecasted for Healthy Growth Into 2009

Since 2005 Houston has been enjoying employment growth at a higher percentage rate than the rest of the U.S. and is anticipated to keep the city's economic engine running. Houston Ranks Third in Employment Growth in U.S. After peaking late in 2006, the Houston economy has steadily lost momentum over the past six months. Despite this recoil, Houston still ranks high (in third place) among the 25 largest metro areas in the U.S. in terms of job growth, (+3.1% year over year in June 2007). Major sectors contributing to this strength include construction (+7.0% year over year), professional and business services (+4.4%) and leisure and accommodation services (+4.4%). The Energy/Petrochemical Sector is the Key Driver The key driver of Houston’s economy over the past two-and-a-half years has been the energy and petrochemicals sector, which is also the metro area’s major employer. High oil prices and healthy growth of profits in the industry have led to a surge in oil exploration, as well as ...

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