Missouri ranks 27th for best place to start a new business

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COLUMBIA - The U.S. Department of Labor released its May jobs report Friday, stating 370,000 people became self-employed in May.

Since February, almost a million people have joined the ranks. 

Some are describing the rush of self-starters as a "Do It Yourself Economy."

The Kansas City-based Kauffman Index ranked Missouri as the 27th best state to create a new startup. This index, which is an indication of business development, reported that 32 out of the 50 states saw a rise in startups in the last year.

The index reports Missouri has 129 startups per 100,000 people in the population.

In comparison, Kansas has 119, and Illinois has 126.

The State of Missouri offers services to those starting businesses, and encourages growth in existing firms.

According to Missouri's Department of Economic Development, the state is home to more than 35 incubators, research centers, and accelerators statewide.

MERIC reports Missouri had 17,509 new business formations in 2014, which was a 2.3 percent increase from 2013 total business formations.