St. Louis Named One of the 30 Hottest Cities for New Businesses

Where entrepreneurs are thriving thanks to an abundance of resources

April 27, 2018 | 2 min reading time

St. Louis, MO- GOBanking.com recently named St. Louis, Missouri as one of the “30 Hottest Cities for New Business” https://www.gobankingrates.com/making-money/best-cities-for-new-businesses/.  GOBankingRates.com used data from the Kaufman Index on the rate of new entrepreneurs and the density of startups. Rate of new entrepreneurs refers to the number of adults out of every 100,000 who have become entrepreneurs in any given month. Startup density measures the number of new firms per every 1,000 companies.

GOBankingRates.com scored both of these variables to determine which cities have the greatest startup activity. St. Louis came in at a ranking of 19 on the list and has one of the highest startup densities. Nearly 97 out of every 1,000 companies is a new business.

Credit went to the city's fast-growing startup scene, which has been helped by venture funds, state and local partnerships, and co-working spaces and incubators. Plus, the low cost of living in St. Louis was found to be appealing to entrepreneurs.

About the St. Louis Development Corporation (SLDC)

St. Louis Development Corporation (SLDC) is an umbrella, not-for-profit corporation organized under Chapter 355 of the Missouri State Statutes with the mission of fostering economic development and growth in the City of St. Louis by stimulating the market for private investment in City real estate and business development and improve the quality of life for everyone who lives in, works in, and visits the City.  The mission of the SLDC is to stimulate the market for private investment in City real estate and business development and improve the quality of life for everyone who lives in, works in, and visits the City of St. Louis. If there are questions, please contact John Parker, Director of Corporate Communications and Media at 314-363-1102 or email him at parkerj@stlouis-mo.gov

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