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
Fans packed Chiefs rally, one didn’t come home; citywide trauma from shooting won’t heal quickly, grief expert says
Trauma and grief come in waves, said Mindy Corporon, foreshadowing a long road ahead for those impacted — directly and indirectly — by Wednesday’s shooting near the Kansas City Chiefs’ Super Bowl victory rally. Like many across the region, Corporon, co-founder of the Merriam-based nonprofit SevenDays foundation, was watching the Chiefs parade on TV when…
Black leaders need to earn a ‘thriving wage’ before they can help others; an Evergy-backed cohort could help them ascend
A new program backed by entrepreneur support groups and Evergy aims to raise household income by at least 30 percent for participating Black professionals, nonprofit founders, and entrepreneurs, said Craig Moore II. “The ultimate goal is making sure you’re a leader who can do more than show up and talk about community — you have the…
Last to know, first to go: ‘Out of touch’ ballpark plan leaves Crossroads small biz owners feeling betrayed
Unlike many of her Crossroads neighbors — hoping to draw in crowds of football fans still riding high from Kansas City’s Super Bowl win — Jill Cockson’s business wasn’t open during Wednesday’s Chiefs victory parade. Candidly, jersey-clad sports enthusiasts aren’t really within her typical customer profile, the James Beard-nominated owner of Chartreuse Saloon said, and…
Royals want Crossroads ballpark open by 2028, calling up ‘generational’ impact on newly linked arts district, downtown
A late-to-the-game East Crossroads site is expected to take shape as the new home of the Kansas City Royals if voters approve the extension of a stadium sales tax that would help support the $2 billion downtown ballpark project. Ending months of speculation, majority owner John Sherman and team officials announced on Tuesday the ball…