the texture isn't really needed, better to keep it simple with one colour. This also comes to play if you want to make the image bigger, it will just pixelate with the current texture. If this was done in Ps then try doing it in Illustrator to make it a vector, vector is generally standard for logos. Apart from the issue with the image type, it is a tad dull. When it comes to being a designer first impression is what it's all about. Look at what everyone else has for their logo. Think outside the box, don't restrict it to text in a shape, think about what you could do with that shape, think about showing motion in the logo perhaps i.e. turning the circle into a wrap around swirl with it perhaps cutting into the text.
Lastly if that's your first idea, dont just stick with it and develop, create at least another 3 more until you get something that works better.