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
Entrepreneurs pack Union Station as Chamber showcases diversity of KC’s small biz scene
Editor’s note: The Greater Kansas City Chamber of Commerce is a non-financial partner of Startland News, which serves as the media partner for the Small Business Superstars program. A diverse cross-section of Kansas City small business owners filled the Grand Hall at Union Station with energy and enthusiasm Thursday, Vicky Kulikov said, noting a significant…
KC’s own $160M ‘urban oasis’ park: Private funders greenlit to put a 5.5-acre lid over I-670
Private backers have put up critical funding needed to begin reimagining the South Loop Link — bringing the long-dreamed about project closer to reality than ever before. Civic leaders from across the region gathered Friday to announce a verbal commitment from funders and local property owners — including Lowes’ Hotel & Co. — who will finance the engineering…
Horizon event set for in-person return, amplifying region’s growth while pushing for more equity
Kansas City is on the rise — and organizers of KC Rising’s annual Horizon event want curious citizens to come see such growth for themselves. “Horizon is a diverse gathering that isn’t tied to a single organization but owned by the region. … It is a celebration of all of us,” said Meryl Dillman, program manager,…
FanThreeSixty teams with national champs, turning data into actionable plays to boost revenue, KU fan experience
Another national championship title isn’t the only banner win the University of Kansas Athletics is adding to its rafters this year. Weeks after scoring the NCAA men’s basketball title, the university has partnered with Kansas City-dunked FanThreeSixty to better connect with its fanbase in seasons to come. “By partnering with FanThreeSixty, not only will Kansas…