A new study has found that businesses in Texas are in a good position to weather the storm that is the COVID-19 pandemic and subsequent economic challenges.
The FitSmallBusiness.com ranking factored in various metrics from overall financial health and emergency reserves to even how consumers feel about their state's ability to bounce back. The researchers weighed five metrics: Economic and financial Health (20 percent); least economic stressors (25 percent); emergency reserves and relief (25 percent); COVID-19 rates and health care infrastructure (20 percent); and consumer confidence (10 percent).
Based on the analysis, Texas ranked as the third-best state equipped to survive the economic fallout from COVID-19. Texas ranked No. 1 in the study's emergency reserves and relief category, since the Lone Star State has the second-highest CARES Act endowment at over $10 billion.
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Texas branded a top state for businesses to survive the pandemic