Despite Kansas incentives, Missouri entrepreneurs rank amongst the best
Missouri often decries its competitive disadvantage resting between states whose tax incentive programs (1) exist and (2) draw business away from Missouri.
As the old maxim states, a poor workman blames his tools.
According to a new study released by the Ewing Marion Kauffman Foundation, you are more likely to meet a Missouri entrepreneur than a Kansas entrepreneur.
In fact, Missouri ranked among the nation’s top 15, although the Midwest had the overall lowest entrepreneurial rates. In Missouri, one would find 400 entrepreneurs for every 100,000 people.
One of Missouri’s recurring complaints is against the successful Kansas Angel Tax Credit program.
Greg Kratofil, Jr., attorney at Kansas City’s Polsinelli Shughart, often states that it is practically legal malpractice to advise clients to establish a technology firm in Missouri when such powerful incentives like the angel credits exist on the Kansas side.
While Kansas discusses the possibility of dumping the successful tax credit program, Missouri’s clear entrepreneurial drive, met with such similar incentives, could prove a strong boom for Missouri’s burgeoning entrepreneurs.
According to the Kansas City Business Journal: Kansas received a medium ranking based on a rate of 0.27 percent in 2011, or 270 entrepreneurs for every 100,000 people.
In 2010, Kansas’ rate was 0.35 percent, at the time surpassing Missouri’s rate of 0.29 percent.
According to the Kauffman study, Arizona displayed the highest entrepreneurial activity rate, with 520 out of every 100,000 adults creating businesses during 2011.
From the Kansas City Business Journal: Missouri entrepreneurial activity ranks among nation’s highest for 2011