Small Businesses in St. Louis MO
St. Louis is Missouri’s second-largest city with an estimated population of 300, 500 as of 2019. French fur traders founded the city in February 1764. In 2017, the city had a metropolitan GDP of at least $160 billion and a diverse economy supported by several different industries, including manufacturing, trade, tourism, transportation, and the service industry. 9 out of the 10 Fortune 500 companies in the State of Missouri are based in St. Louis. Therefore, St Louis MO is an economic hub of the region and offers employment opportunities for both locals and non-locals.
St. Louis is supported by several sectors that include the health care sector, manufacturing, food service, retail trade, administrative and support, and professional or technical services among others.
Any person who wants to engage in any business activity is required to have a business license and the requirements depend on the nature of the business one intends to operate. You may also be required to obtain a separate license for each of the business locations in the city. If you operate under different trade names, a separate license for each of these names may also be required. Similarly, if you have different occupations or businesses operating at the same address, you may also be required to obtain a separate license for each of these businesses or occupations. Moreover, business licenses are non-transferable and any change of ownership, trade names, or locations requires that you obtain a new license.
The city also has a fund program for small businesses and you can apply if you qualify for this fund to help grow and expand your business. The Small Business Grant Fund, however, is not always available and you have to check with the issuers of the fund for funds availability before you apply. These financial assistance programs can help you with your struggling business to get things in order.
Major companies with their headquarters or major operations in the city include Peabody Energy, Ameren Corporation, Stifel Financial, MilliporeSigma, FleishmanHillard, U.S. Bank, Square, Inc., U.S. Department of Agriculture, Express Scripts, and Centene Corporation.
The GDP of the city’s metro area was $155 billion in 2015 and $160 billion in 2016, representing a 3.2% growth. However, its GDP in 2014 was $146 billion, up from $144 billion in 2014 and $133.1 billion in 2011. The health care sector is one of the area’s biggest employers with more than 34, 000 workers. Other major employers include administrative and support, which employs more than 24, 000 workers; the manufacturing sector with more than 21, 000 workers, and the food service industry with at least 20, 000 workers.
So, St. Louis in Missouri is a great place to work and live. If you are also thinking about starting a business in the city, you need to be aware of the state laws and regulations that govern businesses, including all the licenses required to operate the type of business you intend to venture into. Note that the licenses required vary depending on the nature of the business. You may have to consult an attorney who is well-versed in company law and related regulations to ensure you adhere to all the requirements.