Missouri, Kansas Recognized for Startup Assets

The startup ecosystem in Missouri puts the Show-Me State among the nation’s elites, according to the Web site fitsmallbusiness.com, which today released its 2017 rankings of the entrepreneurial climates across the nation. Kansas wasn’t far behind, finishing just outside the Top 10 at No. 11.

“Choosing the right state to start your business might mean the difference between success and failure,” the authors said in releasing their findings. “This is because different states have vastly different tax environments, labor pools, costs of living and more.” They drew on publicly available data from sources such as the Kauffman Foundation, Bureau of Labor Statistics, and the Small Business Administration to generate their ranking metrics across seven categories that significantly influence an entrepreneur’s chances for survival and success:

  • Access to Capital – Venture capital and small business loans
  • Startup Activity – Rate of new entrepreneurs and survivability of business
  • Taxes – Corporate tax, individual income tax, sales tax, unemployment insurance tax, and property tax
  • Cost of Living – Grocery, housing, utilities, transportation, and health
  • Labor Market – Location desirability, and bachelor degree attainment
  • Quality of Life – Access to healthcare, education, and physical safety
  • Cost of Starting a Business – Per capita income and commercial rent

Missouri ranked in the top 25 in six out of those seven categories, but particularly well in cost of living, finishing 11th. The state’s housing score of 75.4 was well below the national average of 100 for housing costs. Kansas fared even better in cost of living, at No. 8, and scored in the Top 25 in four other categories, but only managed 33rd for costs of starting a business, and 37th for access to capital.

North Carolina topped the list, a full version of which is available here.