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
Grief happens on (and off) company time: Why a startup founded from loss is building holistic bereavement plans for corporate America
When grieving employees return to work, managers and colleagues often aren’t equipped to properly support them, said Lisa Cooper. “While I was working in corporate America for quite some time, I had witnessed a lot of dysfunction surrounding grief,” said Cooper, co-founder of Workplace Healing alongside Mindy Corporon. For example, I can remember specifically when someone…
Cherry enters the endorsement game, scoring NIL deals that also boost female college athletes
Partnering with college athletes is a natural elevation of sports apparel company Cherry Co., said Thalia Cherry. The KC-based brand signed agreements with 18 athletes for NIL (name, image, likeness) endorsement deals, shared Cherry, founder and CEO. “It’s a perfect alignment,” she continued. “We were already working with professional athletes in some capacity. So when…
Starting a business? ‘Never-give-up attitude’ matters more than you think, says Porter House co-founder
Editor’s note: This story was originally published by Missouri Business Alert, a member of the KC Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, Kansas City PBS/Flatland, and The Kansas City Beacon. Click here to read the original story. While there are lots of important skills and knowledge to have when starting a…
Returning the flavor: Fast food startup flexes plan to bring Korean-American tastes to rural Missouri
As an occupational therapy practitioner, Joohae “Chewy” Yoon’s home visits to care for patients isolated in rural Missouri inspired her to develop the Korean-American fast food concept GOCHEW Burger & Sandwich. Her full-time job involves traveling to meet patients in Kansas City and Independence, as well as such cities as Odessa, Higginsville, and Warrensburg. Curious…