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
This hard swap plays easy: How one KC producer juggles community, breaking the club music cookie cutter
Tyler Jordan’s new spin on DJing: amplify fellow artists and unite people through music, he shared. Jordan — who produces electronic music and DJs under the name Oblivinatti (a mashup of his favorite video game growing up, The Elder Scrolls: Oblivion, and his interest in conspiracy theories) — is evolving his sound production business Vibration…
Art and technology too often butt heads, festival planners say; River Market event paints a reality where they coexist
The River Market Art Festival is back after a 20-year hiatus — with a nod to the past and an eye toward the future, shared The AI Hub’s Taylor Burris and James Spikes, startup founders who are hosting the event in partnership with the River Market Community Association. The revival of the art festival —…
PayIt co-founder: No one-size-fits-all formula for scaling one of KC biggest startup ideas
Mike Plunkett’s journey with PayIt came to an early, but critical crossroads when a wealthy entrepreneur offered half-million dollars to support the Kansas City-built govtech venture, he recalled. The catch: this investor insisted on imposing control and veto power as they committed more funds. Despite being low on funds, the PayIt team — led by…
Pure Pitch Rally reveals 2023 competitors: Meet 8 founders redefining the future of tech
One of KC’s most-anticipated startup events is set to tease a room full of sharks with the innovations of tomorrow — being built in Kansas City today, said Karen Fenaroli, announcing the eight competitors set for the Oct. 23 Pure Pitch Rally stage. The one-of-a-kind event helps startups grow by offering nondilutive spot-cash funding to…