The “spirit” of a small business owner is vividly embodied by their unwavering passion, resilient heart, and remarkable adaptability. It’s fueled by an intense drive for freedom and purpose, a boldness to lead with conviction and communicate with authenticity, and the courageous willingness to embrace calculated risks.
This resilient spirit empowers them to push through hardships, ignite innovation, and build something truly meaningful on their own terms—crafting a life that is not only flexible but deeply aligned with their core values and dreams.
I wanted to take a little looksie at the statistics in the market to verify if entrepreneurship continues to boom post-pandemic and it does!
- USA: According to the U.S. Census Bureau:
- Over 5.5 million new business applications were filed in 2023.
- That’s roughly 458,000+ new businesses per month — 1,500+ per day.
- Globally: The World Bank and Statista note that over 100 million new businesses are launched every year worldwide — averaging 8.3 million per month.
This reflects both opportunity and chaos: many are launching alone, without systems, strategy, or accountability.
Small Business Trends in the KC Metro
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In 2019, about 70% of business leaders in the Kansas City metro reported meeting or exceeding expectations—an improvement from 58% the previous year.
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According to KCSourceLink’s We Create Jobs report (updated February 2024):
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First-time employers (those with under 20 employees) created 19,771 new jobs in 2022.
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Between 2018–2022, these new and young businesses generated 86,429 jobs, making up 66% of total new jobs in the metro KCSourcelink+1.
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KC is recognized for having the nation’s highest startup growth rate and ranks second in startup density, with a large support ecosystem: 246 business-building resources and more than 2,000 entrepreneurship events annually ThinkKC.
What Makes Businesses Succeed (or Struggle)
- On survival: Kansas City’s first-year startup survival in Missouri (metro) is among the strongest — ~85% survive year one, the highest in the study SmartAdvisor Match.
- Challenges in the KC environment include:
- A capital gap estimated at $1.4 billion (2020)—reflecting tough access to funding.
- Complex permitting and regulatory hurdles, including fees and inspections across different jurisdictions Connexions Solutions.
- KCSourceLink’s analysis highlights additional systemic hurdles:
- While support organizations are robust, they need stronger coordination and capacity.