A prominent businesswoman and founder of World Wrestling Entertainment visited Bahama Bucks on Tuesday, to tour the small business, and discuss the success of all small businesses in the Hub City.
Linda McMahon, currently the head of the Small Business Administration, said Lubbock’s small business environment is thriving.
“It’s got good capital, good financing, and diversity,” said McMahon.
Ninety-three percent of Lubbock businesses are small and they employee more than 83 percent of the workforce, according to an SBA press release.
“As the economy grows, it provides better jobs, which means there’s more disposable income,” said Blake Buchanan, the owner of Bahama Bucks.
A collaborative city helps foster a successful business environment, according to McMahon. The City of Lubbock even has policies in place that puts local businesses first.
“An out of town bidder has got to beat a local bidder by five percent or more for them to take our dollars and put them outside our community,” said Jarrett Atkinson, the city manager.
Small businesses also benefit from community banks, who recognize the vision of the community.
“Lubbock is very fortunate to have a strong representation of community banks. Community banks understand what our businesses need and what our local economy is about,” said Paul Dannevik, the vice president and regional manager of Lubbock National Bank.
While all small businesses have their ups and downs, McMahon said the collaboration within the city is setting these owners up for success.
“What I see in small businesses here in Lubbock, and this small business [Bahama Bucks], is the enthusiasm and the passion,” she said.