Looking for nation’s lowest-cost small cities for startups? No. 9’s in the KC metro
April 23, 2018 | Startland News Staff
A Kansas City suburb finds itself among the top 10 lowest-cost small cities for starting a business, according to a new nationwide report.
Best Small Cities
by Business Costs
1. Goldsboro, North Carolina
2. Bay City, Michigan
3. Jackson, Michigan
4. Salisbury, North Carolina
5. Sanford, North Carolina
6. Muskegon, Michigan
7. Asheboro, North Carolina
8. Cape Girardeau, Missouri
9. Raytown, Missouri
10. Kalamazoo, Michigan
Raytown, Missouri, lands at No. 9 on the ranking by personal finance website WalletHub — just below Cape Girardeau, Missouri, at No. 8. The rest of the top 10 is filled by markets in North Carolina and Michigan.
WalletHub’s findings were based on office space affordability, labor costs, corporate taxes, and cost of living, examining more than 1,200 small cities (population 25,000 to 100,000) across the United States.
Raytown and Cape Girardeau fared particularly well on the cost of office space, recording some of the cheapest in the nation, according to the report.
Other Missouri cities ranking in the top 100 for low startup business costs included Jefferson City (18), Joplin (49), St. Joseph (56), Hazelwood (67), and Gladstone (93).
Human capital
While no cities in Kansas earned high marks for low costs associated with starting a business, two were noted for their access to resources.
Manhattan, home to Kansas State University, ranked No. 26, followed by suburban Leawood at No. 81, in that category.
Key metrics included financing accessibility, investor access, human resource availability, higher education assets, workforce educational attainment, working-age population growth, and job growth, according the report.
Best in Show Me
Looking at a wholistic spectrum of business costs, access to resources, and business environment, WalletHub also determined an overall ranking of the best cities in which to start a business.
The report suggest a clear advantage for Missouri over Kansas with eight Show Me State cities — largely in the St. Louis metro area — in the ranking’s top 100. Those included Jefferson City (31), Maryland Heights (34), Cape Girardeau (36), St. Peters (38), Chesterfield (70), Hazelwood (75), St. Charles (80), and Wentzville (99).
Raytown ranked No. 187 overall among the 1,261 cities studied. Other nearby Missouri metro markets included Liberty (171), St. Joseph (173), Gladstone (193), and Lee’s Summit (212).
A previous report by WalletHub also lauded Missouri as one of the best states in which to launch a business.
No Kansas cities cracked the top 100 in the latest overall best cities snapshot.
The highest-ranking contenders from the Sunflower State were Dodge City (132), Salina (208), Hutchinson (252), Manhattan (254), and Leavenworth (293).
2018 Startups to Watch
stats here
Related Posts on Startland News
How Trump’s win on DEI means fewer fresh foods for KC’s east side; USDA rakes back critical grant for farmers market
An ambitious plan to create greater food security through urban farming won’t be entirely uprooted by efforts to dry up federal funding for projects linked to equity and access, said Alana Henry — but its harvest likely will yield dramatically less. “Doing right by people is always the right answer,” said Henry, executive director of…
‘Black-owned dining passport’ launches in response to Trump’s attacks on diversity
A new effort encouraging support for local, Black-owned businesses — many in Kansas City’s historically redlined neighborhoods — is a timely reminder of the purchasing power in each diner’s hands, said Brandon Calloway. Kansas City G.I.F.T. on Friday launched the first edition of its “Savor The Flavor” Black-Owned Dining Passport, which features 13 restaurants. Diners…
As ICE threat scares customers, Kansas City businesses urged to ‘protect people working for you’
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. After a highly publicized raid on a Mexican restaurant in Liberty, Missouri, earlier this month, immigration advocates and attorneys are rushing…
In Good Company: This ‘hidden gem’ offers escape from club chaos, KC’s corporate nightlife
A new East Crossroads venue on McGee offers no clues of what’s inside. The black facade out front features no marquee. No neon lights. It’s the first indication that In Good Company is something different from neighboring Power & Light District hot spots. The goal: Good people. Good drinks. Good vibes. “It’s not a club.…