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
Porter House KC earns $400K in renewed support for inclusive entrepreneurship, retail incubator
Support from the JPMorgan Chase Foundation is expected to help The Porter House KC make good on its founders’ promise to help emerging entrepreneurs in their community get their promising ventures off the ground, said Dan Smith. “Like many of the small business owners that we encounter, we started our organization based on a need…
Black Pantry expands to Troost, setting a cornerstone for new Black business hub
A second location for the Black Pantry is about more than adding a “cool little gift shop” to Troost, said Brian Roberts, detailing his plan for a broader mission: a whole block of Black-owned businesses and a hub for Black entrepreneurs and creatives. It begins with Roberts’ in-the-works standalone space at 3108 Troost Ave., he…
‘Why would you put that on a cake?’ The C Word Cakery frosts the boundaries of good taste
The C Word Cakery is a reflection of the baker behind the business, Savannah Brady shared. “It doesn’t take itself too seriously,” she explained. Brady — a southwest Missouri native who moved to Kansas City during the pandemic — specializes in, as she puts it, “good cake, bad words” — vintage-looking, classic, floral cakes that…
CRWND as a KC pitch contest winner, Keliah Smith expands her product line (and comfort zone)
Keliah Smith was nervous. She’d never been a fan of speaking in front of a crowd, but knew exposing her discomfort and weakness through the Alchemy Sandbox pitch competition was just part of the ongoing journey of an entrepreneur, she said. Avoiding that spotlight, Smith noted, already had kept her — and her business, CRWND…