Small business is the heart of Texas’ economy. Overregulation is the heart attack

Texas Gov. Greg Abbott speaks during the Governor's Small Business Summit luncheon Thursday, Aug. 10, 2023, in McAllen, Texas. Last week, Abbott announced the launch of the Small Business Freedom Council. The council will examine ways of reducing the regulatory burden on small businesses in the state. Small businesses are the foundation of Texas’ economic success. That’s why we’re glad to see Gov. Greg Abbott starting a new initiative to make our state even friendlier to them.

The governor last week announced the launch of the Small Business Freedom Council and called on state agency heads to identify areas where overly burdensome rules, fees and regulations can be pruned.State agencies have until Jan. 13 to submit their reports, giving lawmakers time to carefully consider the information and act during the 89th Legislature.Some regulations, like health and safety codes, shouldn’t go anywhere. Those are important.

Take this example from a 2023 research paper from the McNair Center for Entrepreneurship and Economic Growth and Rice University’s Baker Institute for Public Policy.It details a case study of the Texas Alcoholic Beverage Commission’s regulatory process. The findings suggest that the process “is not effective in practice.” Researchers identified several costs the commission overlooked, such as “paperwork hours” required to compile and submit applications, reports or notices.

Some regulation is needed to keep standards high and residents safe. But aspiring small-business owners shouldn’t need to get an honorary degree in business regulation or spend thousands of dollars to hire an expert just to navigate the legal framework.The state calculates that 99.8% of Texas’ 3.1 million businesses are small. Taken together, these businesses employ 4.9 million people or about 45% of the private workforce, according to the Texas Economic Development Corporation.

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