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Microbusiness in Texas

Alfreda B. Norman, Vice President and Community Affairs Officer at the Federal Reserve Bank of Dallas, highlights the importance of microbusinesses in Texas. Representing a significant sector of the state's economy, microbusinesses employ approximately 2.5 million Texans, playing a critical role in job creation, especially in rural areas where more than 3.1 million residents live. The growth and impact of microbusinesses are vital for providing employment opportunities and fostering community development across Texas, underlining their importance in the post-recession economic landscape.

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Microbusiness in Texas

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  1. Microbusiness in Texas Alfreda B. Norman Vice President and Community Affairs Officer Federal Reserve Bank of Dallas

  2. Microbusiness represents a growing portion of Texas business SOURCE: U.S. Census Bureau, County Business Patterns and Nonemployer Statistics; Association for Enterprise Opportunity

  3. Micro lending declined after recession SOURCE: FFIEC, Community Reinvestment Act Aggregate Report Data

  4. Microbusiness is crucial to employment • Microbusiness employs about 2.5 million Texans • Texas has the nation’s largest rural population, with more than 3.1 million rural residents. • Microbusiness represents an even larger portion of employment for rural workers. SOURCE: Association for Enterprise Opportunity, Microenterprise Employment Statistics in the United States by Rural-Urban Breakout

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