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St. Louis ranks high among best cities for starting business

St. Louis ranks high among best cities for starting business

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Not only is St. Louis being pegged as a great place to start a new business, the state of Missouri also shows strong in a recent marketing glance.

The lovable list-makers at WalletHub, a personal finance website, put St. Louis at No. 5 among the best 150 cities in the U.S. to start up a new business.

The experts also rank two other Missouri cities in the top 20: Springfeld at No. 8 and Kansas City at No. 16.

In its 2016’s Best Cities to Start a Business, WalletHub used 16 factors to compare startup viability, such as business competition, financing accessibility and available workforce.

One of the experts who helped formulate the rankings was Patricia H. Lee, a professor at St. Louis University law school and director of the school's Legal Clinic.

St. Louis finished high by finishing in the upper half in most categories, with a highest ranking, No. 16, in the area of labor costs. Its lowest ranking, still in the top 50 percent, was being 68th in number of college-graduate workers.

Springfield boosted its ranking by finishing second in the U.S. when it comes to having the most affordable office space.

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