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Entrepreneurship and Growth in Missouri

Entrepreneurship and Growth in Missouri. Governor’s Economic Development Conference September 7, 2012. Overview. How Missouri Stacks Up Young Firms High Growth Environment What Can We Do?. Entry Rate of New Firms.

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Entrepreneurship and Growth in Missouri

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  1. Entrepreneurship and Growth in Missouri Governor’s Economic Development Conference September 7, 2012

  2. Overview • How Missouri Stacks Up • Young Firms • High Growth • Environment • What Can We Do?

  3. Entry Rate of New Firms Region includes Missouri, Kansas, Oklahoma,Tennesee, Iowa, Nebraska, Kentucky, and Illinois SEC includes Kentucky, Tennessee, Georgia, Florida, Mississippi, Louisiana, Arkansas, and Alabama

  4. Share of Total Employment in Young Firms

  5. Inc. 500 Companies in Missouri Since 1990

  6. Missouri Inc. 500 Stats • Sector, 2005-10 • IT: 33% • National Average: 19% • Geography, 2001-10 • St. Louis: 36 (two-thirds of state total) • Kansas City: 10 (18% of state total) *Population Adjusted

  7. State Comparison: 2012 Inc. 5,000 *Population Adjusted

  8. “New” State Comparison: 2012 Inc. 5,000 SEC *Population Adjusted

  9. Thumbtack Small Business Survey • Overall Rankings • A+ Texas, Oklahoma, Idaho, Utah • F Rhode Island, California, Vermont • Missouri • Overall Grade: B- • Other Notables • Kansas: A- • Iowa: C+ • Illinois: D+

  10. Missouri Grades in Thumbtack Small Business Survey • Ease of Starting a Business B • Hiring Costs C+ • Regulations C+ • Health & Safety C- • Employment, Labor, Hiring C+ • Tax code B- • Licensing C+ • Environmental C- • Zoning C- • Training Programs C- • Networking Programs C-

  11. So What Do We Do?

  12. What Not to Do • Venture funds • Public or private • Incubators • Distinction (?) — Accelerators • Science Parks • Enterprise Zones • Business schools • Distort the playing field for young companies • Tax incentives for big companies

  13. So What Can Missouri Do? Part One • Programs • Startup Weekend • Startup Digest • Tech Shop • Ice House • ITEN • Education—Human Capital • Community Colleges • Apprenticeships • K-12 Education: New Models • Lessons: • Experiential • Networks

  14. So What Can Missouri Do? Part Two • Policy • Health insurance • Professional and Occupational Licensing • Non-compete agreements • Technology Commercialization from Universities: free agency • Simplify and Streamline—taxes, regulations, compliance • Statistics—Counting • MERIC

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