DID YOU KNOW? The number of for-sale listings was up 2.8% annually in June, but that was down from May’s 2.9% gain. Inventory gains began to slow this year from 6.4% growth in January to 5.8% in February. (CNBC)
DID YOU KNOW? Senator Kamala Harris - with bipartisan support - has called for amending the Fair Credit Reporting Act to require credit reporting agencies to include payments of rent, cellphone bills, and utilities when calculating credit scores. While alternative credit scores have been developed that do just that, the traditional FICO score, named after the Fair Isaac Corporation FICO, typically considers payments on debt such as credit cards, mortgages and auto loans. Experian however, has a tool that will include certain utility accounts included in your credit report. There are about 26 million people who are “credit invisible” and another 19 million who are said to have “unscorable” files, according to the Consumer Financial Protection Bureau. These people don’t have enough bank or credit-union accounts to have a credit score by today’s standards. (Marketwatch)
DID YOU KNOW? Texas is the #1 most friendly state for start-up businesses. It had the 5th highest amount of spending on business incentives totaling 1.3% of its GDP.
- Texas has a wide variety of non-profit and government-backed programs for assisting small businesses with funding and regularly leads the nation in job growth. Texas saw its number of small businesses grow at a rate of nearly 11%.
- Texas businesses overall had the third-highest rate of average revenue growth in the USA.
- Texas has the 3rd-highest rate of working-age population growth, a statistic that promises a growing workforce in the future. The state already boasts a labor pool of more than 14 million people.
- Texas had the 4th longest average workweek compared to other states, a welcome metric for employers, but mabe not for employees?
WalletHub analyzed more than two dozen metrics relevant to starting a business, including taxes, labor costs, cost of living, growth in the number of small businesses, the ability to access financing and the quality of nearby universities. Utah and Georgia were ranked as the next best states behind Texas.