Austin's Business Scene Heats Up

Strategic Insights -

Austin is buzzing with activity as local companies showcase their skills in a battle of the bands, entrepreneurs find a reliable banking partner, and companies make headlines with innovative advertising and community engagement strategies.

Key Takeaways:

  • CHARITech's Battle of the Bands, scheduled for September 15, will feature bands from top companies in Austin, including the Austin Software Council, Dell Computer Corp., AMD, Motorola Inc., IBM, and the LCRA, competing for bragging rights and a chance to donate a computer to a local school.
  • First Commercial Bank has been recognized as one of the "Best Small-Business Banks" in the country by Entrepreneur magazine for the third consecutive year, citing its commitment to small businesses and its business loan division, First Commercial Capital, which has operations in several Texas cities and Denver.
  • AT&T faced public backlash after a 50% increase in in-state long distance call rates and was forced to credit customers and delay the rate hike, highlighting the importance of transparency in advertising and business practices.
  • Austin Coca-Cola Bottling Co. is celebrating the 25th anniversary of the Hispanic Chamber of Austin/Travis County by putting the chamber's seal on 10,000 limited edition Coke bottles, which will be available in select stores and at a Tejano music festival in October.

Statistics:

  • 49.4% of First Commercial Bank's loans per total assets have gone to small businesses (Entrepreneur, 2022)
  • 158 "Best Small-Business Banks" in the country, including First Commercial Bank (Entrepreneur, 2022)
  • 50% increase in in-state long distance call rates for residential customers (AT&T, 2022)
  • 6% increase in rates for various business and card services for some AT&T customers (AT&T, 2022)
  • 240,000 commemorative Coke bottles printed for the Hispanic Chamber of Austin/Travis County's 25th anniversary (Austin Coca-Cola Bottling Co., 2022)
  • 10,000 limited edition Coke bottles with the Hispanic Chamber's seal to be sold in select stores and at a Tejano music festival (Austin Coca-Cola Bottling Co., 2022)

Sources:

  • Entrepreneur magazine
  • AT&T
  • Austin Coca-Cola Bottling Co.
  • First Commercial Bank
  • Austin Convention Center
  • Hispanic Chamber of Austin/Travis County
  • Statesman News Letter (date not specified)