Entrepreneurial dynamics in Missouri counties

Abstract

"Entrepreneurial dynamics - the fow of business startups and business turnover, or churn, in a place - shape economic growth. Entrepreneurs may spark economic growth and development by contributing to employment growth, innovation, quality of life and economic resilience in their communities. This guide focuses on churn’s role in entrepreneurial dynamics. Churn measures businesses entering and exiting a market. It’s the sum of the startup rate (startups per capita/1,000) and business closure rate (business closures per capita/1,000). It only considers businesses with paid employees. Read more about nonemployer businesses with no paid employees in Missouri Economy Indicators, Issue 9 (PDF) at https://extension.missouri. edu/media/wysiwyg/Extensiondata/Pro/ExCEED/ Docs/MissouriEconomy_NonEmployer_Issue9.pdf. Areas with high churn — that is, those with rapid business turnover — record faster economic growth. However, undoubtedly, a business closure is bad for the particular business’ employees and owner."--First page.