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
Homegrown startups can redefine KC, leader says; they just need help surviving long enough to do it
Editor’s note: The following is the third in a four-part series exploring the verticals and impact of initiatives within the Economic Development Corporation of Kansas City through a paid partnership with EDCKC. Leave KC better than you found it: How matching growth to city’s needs is paying off Wrong tool can wreck a neighborhood; Precision development…
This AI scans for auto damage in 30 seconds; Here’s how it’s gaining instant trust, KC tech industry veteran says
A growing number of automotive-sales and related businesses are turning to Click-Ins, an AI-assisted startup on a rapidly upward trajectory, to solve a long-standing problem: how to inspect vehicles quickly, accurately and consistently without relying solely on human judgment. But the value isn’t in replacing humans in the workforce, said Josh Parsons, a 20-year auto…
Power moves: Electric vehicle infrastructure stalled in Kansas where liquid fuels still dominate
Editor’s note: This article was written for a class at the University of Kansas’ William Allen White School of Journalism and Mass Communications and distributed through the Kansas Press Association. The number of people buying electric vehicles in Kansas is steadily growing, and as the number increases, the need for accommodation will be balanced with…
Five years after being built, dream spot on streetcar line finally brewing opening date, tavern owner says
A never-opened space along the KC Streetcar line in the Crossroads — once planned as high-profile culinary destination — is expected to be remodeled by the owner of a popular brewery and restaurant chain with its long-awaited opening as soon as late summer. Matt Moore, the entrepreneur behind Martin City Brewing Company and Martin City Tavern,…