Texas Business Journals and Baylor Release Study of Business Outlook and Research Partnerships

Nearly 600 Texas business leaders responded to a recent survey conducted by Texas Business Journals and Baylor University on topics related to the state’s business landscape, growth projections, concerns facing businesses and the role of higher education in preparing the workforce and partnering to find solutions to industry challenges.

The information aims to spark meaningful conversation and innovative ideas about university-industry partnerships.

“Education is the backbone of our economy. As the business landscape grows and adapts to changing technologies, resource availability, regulations and worldwide competition, higher education must be nimble in the ways it prepares graduates to contribute to the future of a wide range of industries,” said President Linda A. Livingstone, Ph.D.

The research focused on executives working in Texas’ major markets: Dallas, Houston, Austin and San Antonio. Among the survey respondents are business leaders in fields such as energy, real estate, finance, engineering and nonprofits, and representing organizations ranging from small businesses to billion-dollar corporations. Forty percent of the respondents identified as owners/partners, presidents/principals or executive-level managers of their companies.

Among the survey’s key findings:
• Business leaders’ confidence in their businesses, industry and the Texas economy is significantly stronger than in the national economy.
• Texas start-ups find obtaining capital/funding and finding talent are the biggest obstacles to success.
• Eight in 10 business leaders say their company is somewhat or extremely involved in solving industry problems; the same number believe universities should be involved as well.
• Two-thirds of respondents believe universities have a moral responsibility to engage in research and discovery.
• Nearly three-quarters of business leaders believe it is important to Texas to have more research universities in the state to be competitive.

Survey results may be found on baylor.edu/research and across the Business Journals in Dallas, Houston, Austin and San Antonio.