New Missouri law offers incentives for rural businesses

JOPLIN, Mo. (KOAM) -- Missouri Governor Mike Parson signed a bill into law that will help promote the development of small businesses in Missouri.

Doug Hunt is the Director of Entrepreneurship at the Joplin Area Chamber of Commerce and he says the new laws will open the door for new local entrepreneurs.

The bill will create a Regulatory Relief Office which will accept suggestions to modify regulations that could be a regulatory burden to small businesses.

Lance Kohman is a part of a startup company called POWER Engineers in Joplin, and he says that the opportunity to focus on the business instead of regulations will be a big help.

"When you're starting a business you're focused on building your clientele, getting your customers and revenue going. So you want to focus on the thing that you're wanting to do for the business, not worrying about meeting government requirements or some kind of paperwork burden", said Kohman.

The signed bill creates an Office of Entrepreneurship, which will promote policies to grow businesses with less than 10 employees.

The Director of Entrepreneurship, Doug Hunt, says that the new laws will help small businesses grow in Joplin and it will also bring more employment opportunities to the area.

“80% of new jobs are being started by new startup businesses that are three years old or newer, and because of broadband technology, those businesses do not need to be in metro hubs, those new startups. So a new startup can start in a rural area”, said Hunt.

The signed bill will become law on Aug 28.

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