Listmaker! Kansas City Makes Top 15 Cities to Start a Business
Nerdwallet has spoken: Kansas City is one of the best cities ion the nation to start a new business.
The folks at NerdWallet analyzed the 50 largest cities in the country and compiled its annual list of the best cities start a business in.
1. Access to funding: theycalculated what theydefined as small business loans—the dollar value of commercial and industrial (C&I) loans under $250,000 lent per capita in 2013 by banks with under $10 billion in total assets in each city.
2. Human capital: access to quality human capital and ease of hiring are important factors for businesses, so we measured recent population growth and the percentage of residents in each city with a bachelor’s degree or higher.
3. Local economy: theyevaluated the strength of the local economy through per capita income and unemployment rate.
4. Business-friendliness: they measured the number of businesses per 100 residents and included the small business friendliness rating from Thumbtack’s 2013 Survey of Small Business Owners by assigning numerical values to letter grades.
5. Affordability: since affordability is vital for startup businesses, we included the 2013 cost of living index in our analysis.
Kansas City ranked no. 13, scoring high marks in C&I loans per capita, per capital income and cost of living index.
Read the full report to see the method behind the ranking,