Report: Missouri is a top 10 state to launch a business
July 5, 2017 | Meghan LeVota
A recent study dubbed Missouri as one of the top 10 states to start a business.
The report was assembled by personal finance website WalletHub and aimed to determine which region held the most fertile grounds for launching an enterprise. Evaluating all 50 states’ business environments, access to resources and business costs, the report ranked Missouri No. 9.
WalletHub analysts determined these numbers by assessing 20 differently-weighted indicators of startup success — with business environment being the most critical to a state’s overall score.
Missouri earned its high ranking due to the state’s business environment, which was ranked No. 10 nationally. This metric was calculated by indicators such as startups per capita, five-year business survival rate, the Ewing Marion Kauffman Foundation’s entrepreneurship index and more.
Although Missouri fared well overall, the state’s access to resources score is below average. This indicator is calculated via indicators such as financing accessibility, venture capital per capita and human capital availability.
Another area of improvement for Missouri is its total spending on incentives as a share of GDP. The Show Me State ranked 49 out of 50 in this metric, which is calculated by The New York Times’ database of government spending on business incentives.
Kansas nabbed an overall No. 34 ranking in the study. Although below Missouri, Kansas’ access to resources beat out the Show Me State.
Kansas’ business environment — No. 38 nationally — ranked significantly lower than Missouri’s. Yet the state’s access to resources and business costs yielded the Sunflower State a comfortable, middle rank.
North Dakota, Texas and Utah earned the top three spots, respectively.
To see the complete ranking, see the interactive map below.
2017 Startups to Watch
stats here
Related Posts on Startland News
Nation’s best dog bar planning new tricks in KC after fetching top award, summer funding round
The dog days of summer are bringing momentum to Bar K, said David Hensley. The Kansas City-based escape space for pets and their owners was recently named top dog in the country by USA Today, just closed a funding round, and added several key team members — including Tim Schoenfelder as CEO — the co-founder…
Let’s eat out: KCMO wants more outdoor dining; new grants program pays for restaurant upgrades
Outdoor dining’s economic impact outlasted the pandemic, said Mayor Quinton Lucas. A new push to boost KCMO businesses — with the backing of city tourism dollars — is expected to help local restaurants, coffee shops, and bars embrace the opportunity, he said. His goal: Make outdoor dining spaces even more attractive to visitors and hometown…
Resilience pays off as retail incubator opens doors; Meet the first featured founders at PHKC
Launching a retail incubator in Midtown Kansas City — a physical space targeted for overlooked and under-resourced entrepreneurs — The Porter House KC faced many of the same challenges as emerging small businesses, said Miranda Schultz, but ultimately the effort made it to opening day. “It’s been nice to go through our own trial and…
Pitch prize puts founders closer to building their utopia; How KCMO is backing entrepreneurs who do the right thing
Hearing the personal reasons behind judges’ support for her business at the “Do The Right Thing” social impact pitch competition provides much-needed validation for Utopia Point, said Shereese Hameed-Muhammad. The business — launched by Patricia McCreary and Hameed-Muhammad to redesign the geriatric and disabled care community in Kansas City and beyond — was the overwhelming favorite…