At the beginning of this year, Kansas City was included in a list, by Kiplinger, of the top 10 cities in which to start a business. They used factors such as a low cost of living for those who are self-employed, a workforce that is educated as well as sizable, reduced business costs, and the availability of investment opportunities for beginning the company to complete their ranking. Kansas City was able to be listed because of its favorability regarding all of these factors, in addition to the incomparable Kansas City BBQ found there!
Because of low costs related to start-up in recent years, tech companies have been sprouting along the Midwest. This has led the region to be given the nickname, “Silicon Prairie.” Kansas City is located in the center of this boom, but this city is also known for its local support for entrepreneurs as well as aid and other regional systems to ensure that those starting up have greater success in the long run.
If you are familiar with Kansas City, undoubtedly you have heard the name “Kauffman.” While the Kauffman Center for the Performing Arts stands as a downtown gem, fewer people are abreast of the Kauffman Foundation, worth $2 billion. This foundation is dedicated to the success of entrepreneurs as well as achievements in education. The Kauffman Foundation, via Kauffman Laboratories for Enterprise Creation, serves as its startup incubator, so-to-speak, which provides entrepreneurs with the training opportunity to build skills needed for a successful and long-lasting business.
Of course, the Kauffman Foundation is only one of the means of support that entrepreneurs can find in Kansas City. In fact, many successful entrepreneurs in this city have implemented a “pay it forward” mindset by being ready and willing to assist the next generation in business starters (according to one Bo Fishback, Kauffman Labs). Consider the Helzberg Entrepreneurial Mentor Program or HEMP. We got one of our first Kansas City window cleaners by attending one of the networking events held by this program! This was created by Barnett Helzberg, Helzberg Diamonds founder, for the intended purpose of connection between up-and-coming entrepreneurs and mentors ready and able to help with the fundamentals of a successful business, such as strengthening as well as building a company. There is also Pipeline, which is made up of high-performance entrepreneurs in the Midwest facing challenges related to business as well as uncovering opportunities.
Kansas City is also ripe with investment opportunities for those facing business start-up. “Angel investing”, where affluent individuals provide funds for promising business ventures, is prevalent in this Missouri city. In addition, HEMP, the Kauffman Foundation, and other organizations such as these offer funds for the building of businesses in certain fields for those in need.
All-in-all, we found Kansas City to be very favorable to our business structure and growth goals.