New businesses need more than funding to succeed, they need a community of likeminded business entrepreneurs and a supportive local government. For the past decade, Temple’s growth has been rapid — from capital investments for redevelopment to major company expansions to the influx of young and innovative workers. The city also sits within a state that has been named Best for Business by multiple sources.
Over the past five years Temple’s population has increased by 10.6%. Meanwhile, the city has maintained a cost of living 20% below the national average, preserved easy commutes and invested $366 million in quality of life improvements. So much new activity and investment within Central Texas means startups have more opportunity to scale their businesses.
All of this leads to a community of business leaders that celebrate one another’s successes. Here is how Temple fosters a supportive environment that accelerates the growth of small businesses.
Sparking Business for Entrepreneurs
Redevelopment in downtown Temple has already driven many new businesses to open in the area, like FoxDog, a beer and wine garden owned by a local husband and wife duo. Recent activities within the city are increasing sales, building community and even encouraging the growth of new small businesses.
For example, the Temple Fall Music Series in September and October brought local musicians and eateries to The Yard, a food truck plaza in downtown Temple. Small businesses and entrepreneurs introduced themselves and their food to community members with enthusiasm.
Meanwhile, monthly, the Downtown Temple Farmers Market brings together local vendors from across the city. From bakers to crafters, over 40 entrepreneurs and vendors set up in the Temple City Hall parking lot on North Main Street to sell their goods. The event also brings attention to new storefronts throughout downtown, helping to increase their visibility. The farmers market, in essence, creates a business-friendly, circular economy — encouraging new entrepreneurs to have the confidence to pursue and achieve their goals in Temple.
A Responsive Business Community for Entrepreneurs in Temple
Both the Downtown Farmers Market and the Fall Music Series are put on by the Temple Small Business Coalition, an organization known for showcasing events that foster community and increase foot traffic where it’s needed most.
Here are some additional resources available to small businesses and entrepreneurs in Temple:
- The Temple Chamber of Commerce creates a space for business owners to learn and grow, by sharing resources and organizing networking opportunities. The Chamber stands at the forefront of current state legislation, helping the business community adapt in these uncertain times when mandates are constantly in flux.
- The Central Texas Business Resource Center (BRC) provides everything from business counseling to training for new and potential business owners Entrepreneurs can learn from reputable business owners monthly in a small classroom setting. The BRC is also a strong collaborator with several regional talent pipelines, such as Central Texas College and Workforce Solutions of Central Texas.
- Coworking and flexible workspace options in Temple give entrepreneurs and startups a viable way to immerse themselves within a community of innovators. Spaces like Collaborate and LiquidSpace offer flexible office space, with no large upfront real estate costs that allow small businesses to grow at their own pace.