Mississippi ranks high in top states to start a business - Action News 5 - Memphis, Tennessee

Mississippi ranks high in top states to start a business

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MEMPHIS, TN -

(WMC-TV) - Mississippi was ranked fifth overall by The Kauffman Foundation as one of the best states to start a business.

Even though, geographically, entrepreneurial activity decreased in 2012, businesses seem to be popping up all over the state, particularly in DeSoto County.

Gina McClenton, owner of Yum Yum's Gourmet Popcorn, has not lived in Southaven long, but already, business is booming.

Mississippi measures up with an entrepreneurial index of 43 percent. For example, for every 100,000 people who live in Mississippi, 430 of them opened businesses each month in 2012.

Yum Yum's Gourmet Popcorn, which is co-owned by McClenton's husband, is one of those businesses.

The large number may also have something to do with the high 2012 unemployment rate of 9.1 percent, inspiring many to start their own businesses.

It could also be the result of the low start-up costs in the state. Mississippi generally has lower income and business tax rates than the national average.

You might be wondering ... what about Tennessee?

The Volunteer State has an entrepreneurial index of 24 percent. However, Memphis has several start-up entrepreneurial accelerator programs, helping several people in the Mid-South start their own businesses.

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