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San Antonio Small Business Outlook for 2014

  • 17 December 2013
  • Author: Cari Holbrook
  • Number of views: 4669
San Antonio Small Business Outlook for 2014

Big things are happening in the Alamo City in 2014. With the New Year approaching, now is the time to reflect on how these changes will affect your small or family-owned business. Here we point out some fascinating scenarios currently playing out in our great city, which could affect your business, your taxes and your livelihood in 2014.

Welcome home: Economic Geographer Jim Russell tells Texas CEO Magazine that San Antonio will experience a major “brain gain” fueled by young professionals returning to their childhood roots in the area. After being educated and beginning careers in urban centers like New York and D.C., this ‘return migration’ will help serve as a catalyst turning San Antonio’s manufacturing economy into an economy of innovation. Other professionals in all stages of their careers are also being lured to the area as a means to “hit the restart button” and try their hands at new ventures in a family-friendly environment. Our clients Medlars, SwimFreak, Hondo Railway, and Key Insulation Services are prime examples. Click on each name to read their stories, while additional client stories can be found at our Client Spotlight page.

Extreme downtown makeover: H-E-B’s controversial plans to open a 10,000-square-foot store and expand their corporate offices (spending over $100 million over the next 10 years) at South Flores Street and Cesar E. Chavez Boulevard are expected to transform the King Williams neighborhood. Encompassing more than 26 acres and shutting down South Main Avenue, the redevelopment could house more office space, retail tenants and residential units as well. With more people living, working, and playing downtown, the business landscape is poised for major change. Schedule an appointment with us to learn how these changes will affect your taxes if you already own a business or are planning on moving a business downtown in the near future.

Retail space shortfall: Retail sales are strong throughout San Antonio, in part fueled by a recent sales tax hike in Mexico's northern region. This development is bringing Mexican citizens north of the border to shop. What’s more, San Antonio will continue to have one of the lowest sale tax rates in Texas. But there is one major challenge for retailers this year and that’s space. Brian Harris, a senior vice president and partner with real estate firm REOC San Antonio, recently told the San Antonio Business Journal, “Investor interest in San Antonio retail assets remains strong. But investment activity has been limited by the lack of properties on the market.” That means the space you’re in now could be impacted by higher rent and taxes in the coming year.

Raise a glass to arts and crafts: Americans have fallen back in love with custom craftsmanship, and citizens of the Alamo City are no different. Take the craft beer industry, for instance. This past summer, the Texas Legislature approved several new laws paving the way for small businesses in this industry to thrive. Local brewers like Freetail Brewing Co., Blue Star Brewing Co., and Alamo Beer Co. plan on doubling production over the next year or two. Whether you make furniture, design clothing or restore cars: Know that this growing consumer interest in custom products could benefit your business as well.

It’s perhaps never been a better time to be an entrepreneur in San Antonio. As you can see, each one of these scenarios offers great business possibilities. We can assist you in planning for these opportunities.

Image credit: andreacrisante / 123RF Stock Photo




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