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Leveraging Regional Assets: Findings

The companies interviewed ranged from small, hyper-growing firms with extremely high productivity to large, yet still rapidly growing companies. If you can look at the chart below, on average these firms had $22.8 million in revenue. Not bad for 22 companies in the Kansas City area. The chart further shows that on average these companies employ about 112 people. The real important fact here is that on average, these companies manage a 39% annual revenue growth rate.

arnobio table 1

From a geographical standpoint, about 56% of the entrepreneurs we interviewed were either A) Kansas City natives (10) or B) come from Kansas or Missouri (4).  The interesting facet of these statistics is the eight whom we interviewed that were from outside of the Kansas City region.  Seven of those eight were from within the United States and the eighth was international.  Take a look at the chart below.

arnobio table 2

 

The companies interviewed had many different avenues of which they went about securing funding for their businesses.  The most popular way was however, self funding.  Thirteen of the twenty-two companies each used their own savings or from past entrepreneurial successes.  Six companies secured their funding through family and friends while angels, venture capitalist, bank, and government loans each had two companies go that route.

arnobio table3

Check in soon for further information on this interesting study.

 

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