Op-Ed: Black-owned businesses are making history in Texas, across America

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Black business ownership is growing at the fastest pace in 30 years. Photo via Getty Images

In recent years, our small business community has weathered a global pandemic, persistent supply chain issues, sometimes volatile prices, and a tight labor market—and Black-owned businesses in our state have faced disproportionate impacts from these pandemic challenges.

Despite those headwinds, Black-owned businesses across Texas are fueling one of the largest and most diverse waves of new business creation America has ever seen—what President Biden calls America’s Small Business Boom.

As we mark America’s 48th national celebration of Black History Month, the SBA is highlighting Black-owned businesses’ achievements here in Texas and throughout the nation. The past three years have been the three strongest years of new business formation in American history.

The 16 million new business applications filed during this period show Americans starting businesses at nearly twice the rate—86 percent faster—compared to the pre-2021 average. During that time, U.S. small businesses have created more than 7.2 million net new jobs. And Black-owned businesses are responsible for some of the most significant gains.

The Invest in America agenda is powering the Biden Small Business Boom, and unlike many economic recoveries of the past, this one includes entrepreneurs of color. One of the reasons for that is the SBA’s Community Navigator Pilot Program (CNPP). This innovative hub-and-spoke partnership connected hundreds of community organizations around the country - like the U.S. Black Chambers of Commerce and the National Urban League - with entrepreneurs, helping them make the most of SBA resources. “The SBA CNPP allowed the

Houston Area Urban League Entrepreneurship Center to leverage existing partnerships with organizations that offered services to socially and economically disadvantaged business owners and women-owned businesses,” states Eric Goodie, Executive Vice President of the Houston Area Urban League. “Through the CNPP we provided comprehensive business planning and support, e-commerce technical assistance, financial and credit education, opportunities for business networking, access to capital and procurement opportunities,while providing assistance with obtaining various business certifications. We also found theSBA Lender match portal to be a critical resource in the capital acquisition process."

Under Administrator Isabel Guzman, the SBA has also delivered record-breaking government contracting for small businesses—including the most federal contracting dollars going to Black-owned businesses in history. And we’re addressing longstanding gaps in access to capital for Black entrepreneurs, more than doubling our small business loans toBlack-owned businesses since 2020.

These investments are making a big impact. Black business ownership is growing at the fastest pace in 30 years. The share of Black households owning a business doubled between 2019 and 2022. In 2023 alone, Census data showed Americans filed 5.5 million new business applications across the country, including over 500,000 here in Texas. That success is creating a rising tide. Black wealth is up a record 60 percent from before the pandemic, and Black unemployment has reached historic lows since 2021.

The SBA also understands that the work must continue. Black entrepreneurs and other historically underserved communities still face obstacles accessing capital. That's why President Biden and the SBA are committed to ensuring that anyone with a good idea can pursue that opportunity, and the Small Business Boom speaks to that success. We're helping more Americans than ever access the funds they need to realize their dreams of small business ownership – and that means more jobs, more goods and services, and more resilient communities, no matter the zip code.

To learn more about SBA resources, entrepreneurs are invited to join the SBA Houston District Office as it teams up with the Emancipation Economic Development Council and dynamic community organizations to celebrate Black History Month. The organizations will host the Resources to Empower Entrepreneurs event at the Emancipation Cultural Center on Wednesday, February 28, and will feature discussions surrounding resources, funding, and training available for small business owners.

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Mark Winchester is the SBA Houston District Office's acting district director.

The Houston SBA has joined forces with various organizations across a 32-county footprint to align with SBA’s goal of supporting small businesses. Photo via Unsplash

Houston small biz organization expands strategic partnerships

more support

In alliance with their mission of supporting Houston small businesses the Small Business Administration Houston District Office has expanded its partnerships.

The Houston SBA has joined forces with various organizations across a 32-county footprint.

“Small businesses represent an important and valuable resource in our community and our robust SBE program shows just how much small businesses can contribute when given the chance, and what it can mean in terms of overall economic benefits to the economy," Sabeeta Bidasie-Singh, director of business equity for Port Houston, says in a news release. “Collaborating with partners like the SBA is a key part of our success in supporting the small business ecosystem.”

Organizations signed a Strategic Alliance Memoranda to collaborate to further the interests of small businesses. In 2023, strategic partnerships included Greater Houston Partnership, Indo-American Chamber of Commerce, Houston Hispanic Chamber of Commerce, Fort Bend County Economic Opportunity & Development, Port Houston, Harris County Department of Economic Equity and Opportunity, Harris County Department of Education, Ion, Impact HUB, and Vision Galveston.

“Every small business deserves the chance to prosper,” Tim Jeffcoat, district director for Houston SBA, says in a news release. “SBA Houston strategically chose to partner with these important organizations so that small businesses of all kinds, everywhere in the 32-county Houston district, will benefit.”

SBA works with small business owners to assist with resources and support business growth and development. SBA also assists with businesses that need recovery from a declared disaster. SBA field offices and partnerships with public and private organizations like Ion help the city’s entrepreneurs.

“As a premiere destination for entrepreneurs to make their ideas a reality, we’re delighted to collaborate with the Small Business Administration to help Houstonians start, maintain and grow businesses,” Deanea LeFlore, senior director of Strategic Alliances at Ion, says in a news release. “We're excited to expand our relationships with the SBA to empower Houston’s small business community to scale their businesses, contributing to greater economic growth in the city.”

This innovative Houston company has the national spotlight this week. Courtesy of re:3D

Houston 3D printing company selected inaugural competition

winner, winner

A Houston company has been announced among the winners of an inaugural seed fund expo competition.

Twelve startups were announced across four categories in the U.S. Small Business Administration's inaugural America’s Seed Fund Startup Expo 2022, which is taking place virtually Wednesday, May 25, from 11:30 am to 3:30 pm. Each of the 12 companies have developed innovative technologies with the help of SBIR grants.

“Every day, in communities across America, entrepreneurs are solving our nation’s most pressing challenges from climate change to feeding and healing the world. The SBA is committed to helping ensure that those ideas receive the necessary support from federal programs and innovation ecosystems so that they can commercialize and grow into resilient businesses,” says Administrator Isabella Casillas Guzman in a news release.

“With the launch of America's Seed Fund Expo, we will showcase exceptional entrepreneurs who have leveraged federal research and development funding through the SBIR Program in key industries and connect them to resources to advance their game-changing innovations right here in America,” she continues.

Houston-based Re:3D is among the companies selected to present at the expo. The complete list of participating companies is as follows:

  • AgTech and Food Security
    • General Probiotics (Saint Paul, MN)
    • Nucleic Sensing Systems (Saint Paul, MN)
    • Shellfish Solutions d/b/a Blue Trace (Castine, ME)
  • Climate and Energy
    • Amorphic Tech (Allentown, PA)
    • FGC Plasma Solutions (Middleton, MA)
    • Hydroplane (Lancaster, CA)
  • National Security and Defense
    • BadVR (Pacoima, CA)
    • Enduralock (Lenexa, KS)
    • PSYONIC (Champaign, IL)
  • Supply Chain Resiliency
    • Chromatic 3D Materials (Golden Valley, MN)
    • Delta Development Team (Tucson, AZ)
    • Re:3D (Houston, TX)

“The giants of future industries so often start as small business startups with big ideas," says Bailey DeVries, associate administrator of the office of investment and innovation, in the news release. "We know the public and private sectors must work together to nurture these small businesses with big ideas over many years so they may sustain and grow. America’s Seed Fund Startup Expo will lift up big ideas and provide a platform for our national innovation community to support the businesses of tomorrow."

The event is free to attend virtually, and anyone can register online at https://bit.ly/SeedFundExpoRSVP. The America’s Seed Fund is among the Small Business Innovation Research and Small Business Technology Transfer programs and is collaborates with 11 federal agencies, that collectively support more than $4 billion a year in federal research and development funding.

The U.S. Small Business Administration has been facilitating more loans than ever before. Image via Getty Images

By the numbers: Houston sees rise in small business loans received

annual report

The U.S. Small Business Administration’s Houston district saw a nearly 25 percent increase this year in the dollar amount of the most popular type of SBA loan compared with the pre-pandemic year of 2019.

A new report from the SBA shows small businesses in the 32-county district received $1.3 billion in 7(a) loans in fiscal 2021 compared with almost $1.05 billion in pre-pandemic 2019. Borrowers in the SBA-backed 7(a) program can obtain loans of up to $2 million. The length of each loan is 25 years for real estate deals and seven years for working capital.

“The SBA continues to make headway in helping small businesses access much-needed capital, but much more work remains to be done,” Patrick Kelley, associate administrator for the SBA’s Office of Capital Access, says in a news release.

In terms of the number of 7(a) loans extended in the Houston district, the top lenders for fiscal 2021 were:

  • Wallis-based Wallis Bank
  • San Francisco-based Wells Fargo
  • Columbus, Ohio-based United Midwest Savings Bank
  • Birmingham, Alabama-based BBVA USA (now part of Pittsburgh-based PNC Bank)
  • Wilmington, North Carolina-based Live Oak Bank, the country’s most active 7(a) lender.

The top 7(a) lenders by total dollar amount of loans were:

  • Wallis Bank
  • Live Oak Bank
  • Humble-based Plains State Bank
  • San Antonio-based Frost Bank
  • Kingswood-based The Mint National Bank

The SBA’s Houston district is home to more than 600,000 small businesses in a 32-county region that includes the nine counties in the Houston metro area: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, and Waller.

Nationwide, the SBA backed $36.5 billion in 7(a) loans in fiscal 2021. Nearly $11 billion went to minority-owned businesses, $5 billion to woman-owned businesses, and $1.2 billion to veteran-owned businesses.

SBA lending could experience an uptick in fiscal 2021 due to inflation. An October 2021 survey conducted for the U.S. Chamber of Commerce and MetLife found 45 percent of small businesses had taken out loans to cope with rising inflation; among retailers, that figure was 58 percent. In the survey, 74 percent of small business owners expressed concern about inflation.

“Small business owners’ optimism is plowing through economic uncertainty, but they now face new obstacles with rising inflation, labor shortages, and supply chain challenges,” Tom Sullivan, vice president for small business policy at the U.S. Chamber of Commerce, says in a news release.

Following Winter Storm Uri, the United States Small Business Association has launched recovery resources for Texas small businesses. Photo via Getty Images

SBA launches Virtual Business Recovery Center to assist Texas loan applicants after winter storm

funds for small biz

Texas small businesses impacted by Winter Storm Uri are now eligible for up to $2 million in low-interest loans from the U.S. Small Business Administration as a result of President Joe Biden's major disaster declaration last week.

"Getting our businesses and communities up and running after a disaster is our highest priority at SBA," says SBA's acting Administrator Tami Perriello.

According to a release from the SBA, businesses in 77 counties are covered under the declaration for damages incurred during the storm, starting February 11. Loans can be used to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The funds can also be used to make improvements that will protect, prevent, or minimize damage from any future freezes.

Interest rates for businesses start at 3 percent. Loans to private nonprofit organizations will start at 2 percent and homeowners and renters will incur interest at 1.25. All loans are set with 30 years terms.

Loan amounts and terms are determined by the SBA based on each applicant's financial condition.

The SBA will also launch a Virtual Business Recovery Center on February 23 — similar to the Women Business Centers it launched across the country in 2020, but all virtual due to COVID-related health concerns.

Applicants can call or email the virtual center to receive personalized assistance in their online loan applications at 800-659-2955 or FOCWAssistance@sba.gov, from 8 a.m. to 8 p.m.

Assistance will also be provided to help homeowners and renters through a similar Virtual Disaster Loan Outreach Center, which applicants can reach through the same number and email address.

Homeowners are eligible for up to $200,000 to repair or replace damaged or destroyed real estate.Renters and homeowners are also eligible for up to $40,000 for destroyed personal property.

To get started, applicants must contact FEMA at disasterassistance.gov. To download an application visit disasterloanassistance.sba.gov. Individuals who are deaf or hard‑of‑hearing can call 800-877-8339.

Re:3D is one of two Houston companies to be recognized by the SBA's technology awards. Photo courtesy of re:3D

2 Houston startups win national technology award from SBA

winner, winner

A couple of Houston startups have something to celebrate. The United States Small Business Administration announced the winners of its Tibbetts Award, which honors small businesses that are at the forefront of technology, and two Houston startups have made the list.

Re:3D, a sustainable 3D printer company, and Raptamer Discovery Group, a biotech company that's focused on therapeutic solutions, were Houston's two representatives in the Tibbetts Award, named after Roland Tibbetts, the founder of the SBIR Program.

"I am incredibly proud that Houston's technology ecosystem cultivates innovative businesses such as re:3D and Raptamer. It is with great honor and privilege that we recognize their accomplishments, and continue to support their efforts," says Tim Jeffcoat, district director of the SBA Houston District Office, in a press release.

Re:3D, which was founded in 2013 by NASA contractors Samantha Snabes and Matthew Fiedler to tackle to challenge of larger scale 3D printing, is no stranger to awards. The company's printer, the GigaBot 3D, recently was recognized as the Company of the Year for 2020 by the Consumer Technology Association. Re:3D also recently completed The Ion Smart and Resilient Cities Accelerator this year, which has really set the 20-person team with offices in Clear Lake and Puerto Rico up for new opportunities in sustainability.

"We're keen to start to explore strategic pilots and partnerships with groups thinking about close-loop economies and sustainable manufacturing," Snabes recently told InnovationMap on the Houston Innovators Podcast.

Raptamer's unique technology is making moves in the biotech industry. The company has created a process that makes high-quality DNA Molecules, called Raptamers™, that can target small molecules, proteins, and whole cells to be used as therapeutic, diagnostic, or research agents. Raptamer is in the portfolio of Houston-based Fannin Innovation Studio, which also won a Tibbetts Award that Fannin Innovation Studio in 2016.

"We are excited by the research and clinical utility of the Raptamer technology, and its broad application across therapeutics and diagnostics including biomarker discovery in several diseases, for which we currently have an SBIR grant," says Dr. Atul Varadhachary, managing partner at Fannin Innovation Studio.

This year, 38 companies were honored online with Tibbetts Awards. Since its inception in 1982, the awards have recognized over 170,000 honorees, according to the release, with over $50 billion in funding to small businesses through the 11 participating federal agencies.

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NASA signs on latest tenant for new Exploration Park campus, now underway

space hub

Exploration Park, the 240-acre research and commercial institute at NASA's Johnson Space Center, is ready for launch.

Facilities at the property have broken ground, according to a recent episode of NASA's Houston We Have a Podcast, with a completion date targeted for Q4 2026.

The research park has also added Houston-based KBR to its list of tenants. According to a news release from the Greater Houston Partnership, the human spaceflight and aerospace services company will operate a 45,000-square-foot food innovation lab at Exploration Park. KBR will use the facility to focus on customized food systems, packaging and nutrition for the low Earth orbit economy.

“Exploration Park is designed for companies in the space ecosystem, such as KBR, to develop, produce, and deploy innovative new technologies that support space exploration and commerce,” Simon Shewmaker, head of development at ACMI Properties, the developer behind Exploration Park, said in the GHP release. “This project is moving expeditiously, and we’re thrilled to sign such an innovative partner in KBR, reflecting our shared commitment to building the essential infrastructure of tomorrow for the next generation of space innovators and explorers.”

NASA introduced the concept of a collaborative hub for academic, commercial and international partners focused on spaceflight in 2023. It signed leases with the American Center for Manufacturing and Innovation and the Texas A&M University System for the previously unused space at JSC last year.

“For more than 60 years, NASA Johnson has been the hub of human space exploration,” Vanessa Wyche, NASA Johnson Space Center Director, said in a statement at the time. “This Space Systems Campus will be a significant component within our objectives for a robust and durable space economy that will benefit not only the nation’s efforts to explore the Moon, Mars and the asteroids, but all of humanity as the benefits of space exploration research roll home to Earth.”

Texas A&M is developing the $200 million Texas A&M Space Institute, funded by the Texas Space Commission, at the center of the park. The facility broke ground last year and will focus on academic, government and commercial collaboration, as well as workforce training programs. ACMI is developing the facilities at Exploration Park.

Once completed, Exploration Park is expected to feature at least 20 build-to-suit facilities over at least 1.5 million square feet. It will offer research and development space, laboratories, clean rooms, office space and light manufacturing capabilities for the aerospace, robotics, life support systems, advanced manufacturing and artificial intelligence industries.

According to the GHP, Griffin Partners has also been selected to serve as the co-developer of Exploration Park. Gensler is leading the design and Walter P Moore is overseeing civil engineering.

Houston cleantech co. plans first-of-its-kind sustainable aviation fuel facility

coming soon

Houston-based Syzygy Plasmonics announced plans to develop what it calls the world's first electrified facility to convert biogas into sustainable aviation fuel (SAF).

The facility, known as NovaSAF 1, will be located in Durazno, Uruguay. It is expected to produce over 350,000 gallons of SAF annually, which would be considered “a breakthrough in cost-effective, scalable clean fuel,” according to the company.

"This is more than just a SAF plant; it's a new model for biogas economics," Trevor Best, CEO of Syzygy Plasmonics, said in a news release. "We're unlocking a global asset class of underutilized biogas sites and turning them into high-value clean fuel hubs without pipelines, costly gas separation, or subsidy dependence.”

The project is backed by long-term feedstock and site agreements with one of Uruguay's largest dairy and agri-energy operations, Estancias del Lago, while the permitting and equipment sourcing are ongoing alongside front-end engineering work led by Kent.

Syzygy says the project will result in a 50 percent higher SAF yield than conventional thermal biogas reforming pathways and will utilize both methane and CO2 naturally found in biogas as feedstocks, eliminating the need for expensive CO2 separation technologies and infrastructure. Additionally, the modular facility will be designed for easy replication in biogas-rich regions.

The new facility is expected to begin commercial operations in Q1 2027 and produce SAF with at least an 80 percent reduction in carbon intensity compared to Jet A fuel. The company says that once fully commercialized the facility will produce SAF at Jet-A fuel cost parity.

“We believe NovaSAF represents one of the few viable pathways to producing SAF at jet parity and successfully decarbonizing air travel,” Best added in the release.

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This article originally ran on EnergyCapital.

Houston company ranks No. 13 worldwide on Forbes Global 2000 list

World's Biggest Companies

More than 60 Texas-based companies appear on Forbes’ 2025 list of the world’s 2,000 biggest publicly traded companies, and nearly half come from Houston.

Among Texas companies whose stock is publicly traded, Spring-based ExxonMobil is the highest ranked at No. 13 globally.

Rounding out Texas’ top five are Houston-based Chevron (No. 30), Dallas-based AT&T (No. 35), Austin-based Oracle (No. 66), and Austin-based Tesla (No. 69).

Ranking first in the world is New York City-based J.P. Morgan Chase.

Forbes compiled this year’s Global 2000 list using data from FactSet Research to analyze the biggest public companies based on four metrics: sales, profit, assets, and market value.

“The annual Forbes Global 2000 list features the companies shaping today’s global markets and moving them worldwide,” said Hank Tucker, a staff writer at Forbes. “This year’s list showcases how despite a complex geopolitical landscape, globalization has continued to fuel decades of economic growth, with the world’s largest companies more than tripling in size across multiple measures in the past 20 years.”

The U.S. topped the list with 612 companies, followed by China with 317 and Japan with 180.

Here are the rest of the Texas-based companies in the Forbes 2000, grouped by the location of their headquarters and followed by their global ranking.

Houston area

  • ConocoPhillips (No. 105)
  • Phillips 66 (No. 276)
  • SLB (No. 296)
  • EOG Resources (No. 297)
  • Occidental Petroleum (No. 302)
  • Waste Management (No. 351)
  • Kinder Morgan (No. 370)
  • Hewlett Packard Enterprise (No. 379)
  • Baker Hughes (No. 403)
  • Cheniere Energy (No. 415)
  • Corebridge Financial (No. 424)
  • Sysco (No. 448)
  • Halliburton (No. 641)
  • Targa Resources (No. 651)
  • NRG Energy (No. 667)
  • Quanta Services (No. 722)
  • CenterPoint Energy (No. 783)
  • Coterra Energy (No. 1,138)
  • Crown Castle International (No. 1,146)
  • Westlake Corp. (No. 1,199)
  • APA Corp. (No. 1,467)
  • Comfort Systems USA (No. 1,629)
  • Group 1 Automotive (No. 1,653)
  • Talen Energy (No. 1,854)
  • Prosperity Bancshares (No. 1,855)
  • NOV (No. 1,980)

Austin area

  • Dell Technologies (No. 183)
  • Flex (No. 887)
  • Digital Realty Trust (No. 1,063)
  • CrowdStrike (No. 1,490)

Dallas-Fort Worth

  • Caterpillar (No. 118)
  • Charles Schwab (No. 124)
  • McKesson (No. 195)
  • D.R. Horton (No. 365)
  • Texas Instruments (No. 374)
  • Vistra Energy (No. 437)
  • CBRE (No. 582)
  • Kimberly-Clark (No. 639)
  • Tenet Healthcare (No. 691)
  • American Airlines (No. 834)
  • Southwest Airlines (No. 844)
  • Atmos Energy (No. 1,025)
  • Builders FirstSource (No. 1,039)
  • Copart (No. 1,062)
  • Fluor (No. 1,153)
  • Jacobs Solutions (1,232)
  • Globe Life (1,285)
  • AECOM (No. 1,371)
  • Lennox International (No. 1,486)
  • HF Sinclair (No. 1,532)
  • Invitation Homes (No. 1,603)
  • Celanese (No. 1,845)
  • Tyler Technologies (No. 1,942)

San Antonio

  • Valero Energy (No. 397)
  • Cullen/Frost Bankers (No. 1,560)

Midland

  • Diamondback Energy (No. 471)
  • Permian Resources (No. 1,762)
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A version of this article originally appeared on CultureMap.com.

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