You know it takes determination and grit to start a business if you’re from Kansas. Yet, many people who open their companies here have thrived in the entrepreneurial environment. And if you’re unaware of the excellent benefits of starting your business here, this article will discuss five reasons Kansas is a great place to base your start-up. In addition, you’ll learn about three solid ideas for new entrepreneurs in the state.
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1. Community Support
Kansas residents’ overwhelming support for new businesses is unparalleled. With the small-town vibe, many people here prefer to shop at locally-owned stores. Plus, the networking opportunities are endless with social media, town events, and even simple word of mouth.
People in Kansas love to lift each other up. So as long as you give the love you want to receive and provide excellent customer service, you’re sure to thrive.
2. Lower Costs
In Kansas, the cost of living can be significantly lower than in other states. Therefore, you can also expect the cost of running a business to be lower. However, the bills can pile up quickly initially, and many new companies struggle to stay afloat within the first few years. So, you’ll feel relief knowing that you’ll have a little more breathing room.
For example, standard business insurance costs like Kansas workers’ compensation can be significantly cheaper than California. Just make sure that you don’t underinsure yourself to cut costs. If you put too much risk on your company, you could spend more down the line when you file a claim and find out it’s an uncovered loss.
3. Growing Economy
The economy in Kansas was growing steadily before the pandemic and, just like every other state in the country, took a hit when Covid-19 struck. But since lockdowns ended and shops started re-opening, the economy seems to be taking a positive turn once more.
When you start your business in the sunflower state, you’ll contribute to the increased demand for jobs. However, finding hard-working employees shouldn’t be an issue if you can pay a livable wage and provide a decent work-life balance.
4. Resources
When starting a business in Kansas, finding the means to get your shop up and running can be challenging. However, the state offers a variety of resources to help budding entrepreneurs acquire the capital they need to get started. With a vast network of support and information at your fingertips, you might quickly find that everything is just within reach here.
5. Technology
The tech sector in Kansas is constantly growing, and more people are flocking to the state to utilize this growth. Starting here will give you the advantage of having the latest developments in your backyard. Plus, with the power of social media and other digital business tools, you’ll be able to reach a broader audience to grow your business quickly.
3 Business Start-up Ideas for New Entrepreneurs
Now that you know a few of the benefits of basing your start-up in Kansas, you should consider planning your business. If you don’t know what you should start yet, here are a few ideas to get your creative juices flowing:
1. IT Company
IT is an ever-growing industry as many businesses depend heavily on technology for their everyday operations. Starting an IT company can be lucrative because you can provide businesses with these in-demand services:
- Help-desk support
- Cyber-security
- Technology updates and software connections
- Monitoring and fixing minor bugs before they become a more significant issue
2. Restaurant
Everyone loves a good place to eat, and if you can handle the demands of the foodservice industry, opening a restaurant could change your life. However, keep in mind that you may deal with strict regulations, and the start-up costs for a restaurant are high.
You’re likely to see business from travelers, truckers, and locals with the small-town feel. However, if you locate in the city, you may see more customers fast. Remember that you will need to keep up with the competition and give your customers a unique experience.
3. Agriculture and Farming
Starting an agricultural business in Kansas can be lucrative, especially if you already know how to run a farm. However, if you have no experience, you should consider working for an established farmer in the area for a year or two. The dangers of farming are significant, and walking blindly into the business is unwise. So take some time to research and get some hands-on experience beforehand.
Conclusion
Kansas is turning into a hub for new businesses as the economy grows. As a result, this can be an ideal location with endless resources. Plus, with the diverse number of business sectors, almost any type of company may thrive within the first year of operation here.
However, remember that Kansas is a rural state, so choosing the right location can be tricky, depending on your industry. So before you dive in, continue your research to determine where you should base your start-up within the state.