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Mississippi 5th nationally in business startup activity

payday loan pic4_f3fb48472d(2)Mississippi is ranked 5th nationally in the most business startup activity in 2012, according to the Ewing Marion Kauffman Foundation Index of Entrepreneurial Activity.

Mississippi had a startup rate of 430 per 100,000 adults. Montana leads the list with 530 startups per 100,000 adults. Others in the Top 10 are: 2. Vermont, 3. New Mexico, 4. Alaska, 6. California, 7. Idaho, 8. Hawaii, 9. Louisiana, 10. Nevada.

A summary on CNNMoney.com says:

“Small businesses have long been a cornerstone of Mississippi’s economy, since few large corporate headquarters or R&D facilities are based here. Indeed, many new college grads choose to start their careers by launching a business, said Tony Jeff, CEO of Innovate Mississippi, a nonprofit that helps early-stage companies.

“Startups can get help doing research and finding capital through Mississippi State University’s Entrepreneurship Center. They also can enroll in business-training bootcamps offered throughout the state by the Mississippi Development Authority.

“Many entrepreneurs are drawn to the state’s growing telecom, tech, oil & gas, and biomass energy industries.

“Meanwhile, cost-conscious entrepreneurs find Mississippi’s modest costs appealing. Living here is cheap, low salaries keep payroll costs down, and personal income and business tax rates are far below the national average.”

The Kauffman Index of Entrepreneurial Activity describes itself as a leading indicator of new business creation in the United States.

It describes the process as “capturing new business owners in their first month of significant business activity, this measure provides the earliest documentation of new business development across the country. Analysis of matched monthly data from the Current Population Survey (CPS) allows for comparisons of the percentage of the adult, non-business owner population that starts a business over time. In addition to this overall rate of entrepreneurial activity, separate estimates for specific demographic groups, states, and select metropolitan statistical areas (MSAs) are presented. The Index provides the only national measure of business creation by specific demographic groups.”

 

 

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