Start a Business in Hays, KS: When it comes to starting a business, entrepreneurs must look for the place with the most potential. Whether a corporation, sole proprietorship, partnership, or LLC, having a business in Hays, KS, is a plus for any entrepreneur. In general, setting up any form of business in Kansas, US, is the initial step to building an international brand.
Entrepreneurs across the globe are interested in starting and expanding their businesses in Hays, KS. With an urban population of 20855 (estimate), the city has a lot to offer to all emerging entrepreneurs. The main reason for this is the economic environment and flexibility of the business structure in Kansas. Like most places in the US, Hays, KS also offers business structures for all types of entrepreneurs; no matter what business you want to do, there’s a perfect solution for you. If you want to start limited liability company (LLC) or a corporation, or a sole proprietorship, Hays, KS has a proper business environment for all.
In this article, you will read about how to start a business in Hays and why you should choose Hays to start and run your business. We recommend you check below the important facts about Hays, KS; these might help you.
On this page, you’ll learn about the following:
Hays, KS Household Income Statistics
Hays Median household income | 52135 USD |
Hays households with dual income earners | 53.3 % |
Hays households $150K+ Income | 5.6 % |
Hays households $100K+ Income | 20.3 % |
Hays households $100-150K Income | 14.7 % |
Hays households $75-100K+ Income | 15.3 % |
Hays households $50-75K+ Income | 17.2 % |
Hays households $35-50K+ Income | 13.1 % |
Hays households $25-35K+ Income | 9.9 % |
Hays, KS Education & Labor force Facts
Hays residents with a bachelor’s degree (or equivalent) | 25.6 % |
Hays residents with at least a 4-year degree | 41 % |
Hays residents with a graduate degree | 15.4 % |
Hays residents with a high school diploma but no more | 22.7 % |
Hays residents with less than high school education | 5 % |
Hays residents with some college but no more | 31.4 % |
Hays residents with a Bachelor’s degree or higher (STEM fields) | 30.6 % |
Hays households that own (rather than rent) their residence | 58.1 % |
Hays residents 16 and older in the labor force | 70.6 % |
Hays residents unemployed | 4.1 % |
Hays, KS Demographics
Hays residents aged 0-9 | 11.6 % |
Hays residents aged 10-19 | 13.4 % |
Hays residents aged 20-29 | 22.7 % |
Hays residents aged 30-39 | 12.2 % |
Hays residents aged 40-49 | 9.6 % |
Hays residents aged 50-59 | 8.8 % |
Hays residents aged 60-69 | 11.4 % |
Hays residents aged 70-79 | 6.2 % |
Hays residents aged over 80 | 4.3 % |
The average size of resident families in Hays, KS | 2.9 |
Estimated population per square kilometer in Hays, KS | 931 |
Hays, KS urban population (estimate) | 20855 |
Hays, KS municipal population (estimate) | 20855 |
Now that you know what makes Hays of Kansas good for business, let’s get started with the exact steps on how to start a business in Hays.
How to Start a Business in Hays, KS
Starting a business in Hays, KS, needs planning, financial decisions, legal procedures, and a handful of other things. Be it a corporation, sole proprietorship, partnership, or LLC in Kansas, you must go through the following steps. These steps are general steps. They are subject to change depending on the structure of your business.Generally, starting a Limited Liability Company is easy to form. Read our guide on how to start an LLC before you start your own business. Here are the steps to set up your business in Hays.
Step 0: Decide on What Business to Start
This is the first thing you work on, the type of business you want to start in Hays. Depending on that, you need to make your business plan. Apart from the legal documentation and process, you must include the following points in your business plan,
- Through market research on demand trend
- Complete Budget plan – funding your business. If you’re planning to start an LLC, then take a look at the cost of LLC
- What competitors are doing
- SWOT Analysis – check what your Strengths, Weaknesses, Opportunities, and Threats are
- Your targeted buyers
Once you have the entire plan with you, you can continue working on the legal structure of your business. LLCBuddy will guide you through the legal process of forming an LLC for your business. It’s very likely that you have already done this step 0, so that we won’t go deep into this step, let’s move to step 1.
Step 1: Choose Your Business Structure
The very first step after you decide on what type of business you want to start is to choose what type of business structure you want to form. You can form an LLC, a sole proprietorship, a corporation, or a partnership. Each type of structure has different rules and regulations. For example, if you want to start a Kansas LLC, there are different types of tax and fee structures. An LLC formation is similar to forming a sole proprietorship. On the other hand, forming a corporation is much more complicated. The tax and fee structure is completely different in corporation formation.
Step 2: Name Your Business
The next step in forming a business is to give it an appropriate name. Having a business name is not so easy task. You cannot pick a random name for your company. One has to follow proper naming guidelines before they name their company. Besides, before you settle a name, you must check if the name you are looking for is available to use. You can visit the official government site of Kansas to do the Kansas LLC name search before you pick the available name. Below are some of the naming rules you need to follow,
- You cannot name your business that has words or phrases like Bank, University, Government, or anything that can confuse people with a government sector.
- If you are forming an LLC in Kansas, then you must include words like “LLC,” “LC,” “LLC,” “Liability Company,” and “L.L.C.” If it is an LLP, then you must include “LLP” in your business name.
- The name should reflect the nature of your business. Any name that can confuse people should not be picked.
- You can check if the name of your company is available. Through the business name search process, you can search if the desired name is available for use or not.
- You can reserve your business name for a certain time before you form your business in Hays, KS by filing a name reservation application.
The above-mentioned points are basic naming rules that all businesses have to follow while naming their company. As mentioned above, these rules are subjected to change depending on the structure of the business.
Step 3: Get a Registered Agent
A Registered Agent is a person who receives all types of legal and official documents on behalf of the business. Whether a suit against your company or formation-related documents from the state, a Kansas LLC Registered Agent is responsible for receiving these documents at his/her official address. In general, anyone who has the right to conduct business in Hays can be a registered agent. However, there are some requirements to becoming a registered agent.
- The person has to be 18+ years of age.
- Must be a citizen of the Kansas
- Must have a physical street address in the Kansas
- Must have legal rights to conduct business in the Kansas
Anyone who fulfills the requirements can be a registered agent. Also, anyone from the company, your spouse, any relative, or yourself can be a registered agent. But, it is recommended that you hire a professional registered agent to look after your documentation. You can choose from the best LLC services that also offer registered agent for LLCs.
Step 4: Register Your Business
The next step is to register your business under the Secretary of State, Kansas. The Articles of Organization (or certificate of incorporation) of your company should be submitted online, by mail, in person, or by fax to the Kansas SOS. You need to pay the state filing fee either by Credit Card or by check to the SOS while registering your business in the Hays, KS. Your Kansas LLC articles of organization should have the following details about your business
- Company/Business name, address
- Registered Agent Name, address
- Member-managed or manager-managed (in case of LLC)
- Type of business
Depending on the type of business structure, you may have to add some more information to the formation document.
Step 5: Write the Operating Agreement
An operating agreement is a document that has all the structural information of your business. In most states, it is not mandatory to create an operating agreement. However, it is highly recommended to have one as an internal document. This document records information such as,
- About Business
- Members and management
- Capital contribution
- Profit Distribution
- Change of membership
- Dissolution
In future, if any member wants to leave the company or you want to dissolve the business, then the Kansas operating agreement has everything recorded, from clauses to contributions.
Step 6: Obtain EIN
EIN or Employer Identification Number is required to file taxes, open a business bank account, and if your business has employees. EIN can be obtained from IRS. It is a 9-digit number similar to Social Security Number. However, EIN is different from SSN. It is solely used for business purposes, especially for general tax filing. You have to fill out the form and submit it to the IRS website. It does not cost you anything to obtain EIN.
Step 7: Get Business Bank Accounts
Once you obtain the EIN for your business, you are free to open a business account in the US. Having a US business bank account can ease your business transactions in Hays, KS. It increases your business credibility and liquidity. It will also be helpful for business loans.
Step 8: Create Your Business Website
Business websites are as important as your business structure. It is necessary to have a catchy business website with all the information regarding your company. Along with the website, you need some more things. Things such as logos, business cards, business emails, domain names, and social media accounts are needed to promote your business. You can hire a professional business service to get all of these services under one roof.
Other Things to do After Starting Your Business
- Once your company is set in the Hays, Kansas, you need to file your taxes and apply for licenses (if needed).
- Apart from the license and permits, you need to get insurance for your business. Such as General Liability Insurance, Professional Liability Insurance, and Workers’ Compensation Insurance are some of the insurances you need to get if you are about to start an LLC.
Important Hays Stats for Starting a Business
Before you start a business in Hays, it is required that you know some facts about the city. Following are some of the stats to consider before starting a business.
Education & Employment
Hays has a diverse population that comes from various educational backgrounds. There are students who haven’t finished their high-school education, whereas there are people who are more than just college graduates. Check the table (Education & Labor Force) for detailed data. From the data, it is clear that the city has enough educated and skilled people who can contribute to the labor force.
Demography
As we talk about the urban population density, the young population percentage in the city is approximately 22.7 (people in their 20s) and 12.2 (people in their 30s). This means that having any business that is new and tech-based might be profitable. The median age of the population in the city is 31.6. On the contrary, if anyone wants to start a business that is related to any old-age service, such as caregiver, primary old-age support, or something of a similar sort, then Hays has approximately 4.3 (people in their 80s and above) percent of old people. Check out the table (Demography) above for more information.
Real Estate
Another important factor to mention about Hays is the home value of owned properties. The average value of owned houses is 183852. Also, the percentage of people living in their own houses is 58.1. This reflects the real estate market of the city. For a metropolitan city, this is a considerable number.
Health
It is inevitable that living in a big city is different from living in a town or a comparatively smaller city. It directly affects lifestyle and health. It is obvious that having health insurance is important, no matter which city or region you are residing in. But there are people in Hays who still do not have health insurance. The rate of people not having health insurance is 6.4. This depicts the lifestyle and overall health demography of Hays. As you plan to start your business in this city, you must consider this stat as well.
Income & Lifestyle
The income pattern of the people in this city is given in the table (Income) above. In Hays, a part of the population has a dual family income that reflects a better standard of living. As in, people have more than one source of income. The table above shows the income percentage of various slabs.
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Reasons to Start a Business in Hays
Hays offers a bunch of business-friendly services for entrepreneurs. A proper business environment, skilled labor, tax advances, deductions, and much more are awaiting if you are interested in starting your business in Hays. Here are some of the reasons,
Stable Economic Growth
Hays or any other city in Kansas has stable economic growth and an environment that helps any business to grow successfully. The economic structure of Kansas shows not only balanced but also a sustainable condition of economic growth, which in turn triggers the businesses to flourish in the state.
Minimize Personal Liabilities of the Entrepreneur
If you’re considering starting an LLC in Hays, then it will be your best choice. An LLC protects your personal assets and minimizes your personal liabilities. This is one of the many reasons why having an LLC in Hays is a wise choice. Also, if you are opting for an LLC, the tax deductions will be more than having a corporation.
Federal and State Tax Relaxation
There is a series of federal taxes that an entrepreneur has to pay when operating a business in the US. Depending on the state your company is located in, the state taxes are being imposed. For an LLC, both of these taxes are much lower compared to other business structures. Along with tax impositions, some tax deductions (state-wise) lower the filing fees and other government charges. Check out the Kansas LLC tax structure to know more about the tax structures for LLCs in the state.
Government Incentives for Entrepreneurs
Federal and state governments in the US ensure that entrepreneurs get a proper business environment in the state or city they are operating their business. The government provides a few incentives to the business holders in Kansas or any other state. That means if you are operating any business in Hays, then Kansas State will provide an incentive for creating jobs, contributing to the state’s GDP, and/or balancing the state’s tax structure.
Low Corporate and Other Business Taxes
Corporations and other business structures (except for an LLC) are liable to pay a corporate tax in Kansas. Also, there is a Sales Tax that all businesses, including LLCs, have to pay. However, the rate of taxes is very low. Besides, as the businesses receive incentives, the tax burden gets lower.
Skilled Labour & Quality Manpower
In Hays, it is easy to hire employees for your business. They are not only skilled but also well-educated to help your business grow. As mentioned above, the 70.6 is the percentage of labour participation. Hence, it is clear that having a business in Hays will make a lot of difference to the existing labor force.
Demand for New Market and Industry
In Hays, Kansas, there is an uprising demand for new industries and new markets. Entrepreneurs who are willing to start a business in any of the cities of any state are given enough opportunities to stay in business. Business licensing, tax deductions, incentives, and relaxation of business taxes are some of the benefits that encourage start-ups and budding entrepreneurs to start their own businesses in Hays.
If we follow the US Data, the median value of commute time for the residents to their work is approximately 10.1. If you are starting a business here, you must keep in mind that commutation can be a point to consider.
Intellectual Property Protection
The US government receives roughly more than 1 million applications for IPR every year. The federal government makes sure that there is no infringement of any patent or property rights. It does not matter which city in which state you are running your business. The rule of Intellectual Property Protection is the same for all. If you have a foreign business in the US, then you might get more benefits under the IPR act.
Other Benefits
Hays (aka ) is ranked at 3 in terms of importance. Apart from the above mentioned reasons, there are some other benefits that businesses enjoy in Hays. For example, technological advancement, a stable political environment, renewable resources, sustainable non-renewable resources, and some more benefits make things easier for entrepreneurs to start and run their businesses. According to US Data, the percentage of young people in Hays is 12.2. Hence, it would be great to start a business that is related to tech here as you might get a good number of clients.
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Why Start Business In Hays Kansas
Whether you are an existing business looking to expand or a new business looking for a great location, Hays, Kansas has many advantages to offer. This growing, progressive city is a great place to grow your business. The city offers several programs to help you with your business. From business training to tax abatements, there is something for everyone in Hays, Kansas.
The City of Hays is looking to diversify their workforce. This means that they are looking for more people to work in the retail and manufacturing industries. Several shovel ready sites are available in Hays, Kansas, which make it a great location for businesses looking to expand. A micro factory has been built in Hays, Kansas, to serve as an incubator for manufacturers. This micro factory is managed by Grow Hays, Inc., a nonprofit organization dedicated to promoting the city and its growth. This organization has been awarded $3 million in grants to fund the micro factory.
Hays, Kansas has a population of approximately 40,000 people. Hays is a great place to raise a family. This city has a low cost of living and a good education system. The city also has a large workforce available for employment. It has a strong downtown area, which is thriving. In addition, Hays is located on I-70 and the Union Pacific mainline, giving businesses easy transportation options.
The City of Hays has a low sales tax rate, which is only 2.25%. In addition, the city offers 10+ Gigabits of internet speed, which means that your business can benefit from high-speed connectivity. Hays also offers tax abatements to help businesses with their financing needs. Businesses are also eligible for Industrial Bonds and Tax Increment Financing. These types of loans are great for businesses that are looking to expand. If you are looking to relocate or start a new business, you may also qualify for a tax abatement. The tax abatement will help you to lower the tax rate that you pay on your business.
Hays, Kansas is home to Franklin University, a nonprofit university. This university has more than 50 programs available to students. The university has been accredited by the Higher Learning Commission and is also a top choice for adult students. There are several degree programs to choose from, including Master’s and bachelor’s degree programs. The university also offers online degree programs. Students enjoy the opportunity to stay in Hays after they have completed their degree.
If you are looking to expand your business or start a new business, you may qualify for the Ellis County E-Community program. This program is a partnership between Fort Hays State University and Grow Hays, Inc. This program helps businesses with funding, assisting with relocations, or solving problems. The program was created by the Kansas Center for Entrepreneurship Tax Credit Program. It is a great program for new and existing businesses in the area.
FAQ About Hays, KS
Popular city is Hays, KS. It boasts a robust economy and a burgeoning population. Therefore, creating a firm would ultimately be lucrative. You may open a restaurant or a food company on any of Hays, KScongested ,’s streets if you want to become a wealthy entrepreneur.
If you live in Hays, KS and don’t have a Tax ID number, you may be wondering how much it costs to get one. A Tax ID number is a nine-digit number that is issued by the IRS to identify an individual or business. It is free.
Kansas’s state of Kansas contains the city of Hays. In Hays, KS, a business license is indeed necessary. Before starting a company, a license is required. The city of Hays issues the license. Hays provides a variety of enterprises.
Making money quicker is challenging but not impossible in Hays, KS or any other location. In Hays, KS, having a well-known and in-demand firm might speed up your financial progress. Real estate, dining establishments, personal trainers, and construction companies are a few excellent examples.
In Hays, KS, you will need a seller’s permission in order to sell things. The cost of this one-year license is nothing. The City of Hays’s website has an application form that you may use to submit your request for this permit.
Any small business in Hays, KS needs to have some policies. One of the most common policies is the employees’ health & safety policy. Some other policies are employees’ code of conduct, complaint, vacancy & time-off, and employee disciplinary policies.
Here are some original business ideas for Hays, KS entrepreneurs. You may begin by selling handcrafted home décor, DIY items, personal care items, and other items online. In addition, you may consider starting a dog-walking or pet-sitting service.
Hays, KS LLCs may deduct taxes. Home office costs are the most typical one. You may not have to pay taxes if you work from home. However, working from the office could subject you to a certain tax rate.
A self-running business does not exist in Hays, KS. An individual must be involved in every company. It can need less of your time and effort than other company types in Hays, KS, if you select a technology-dependent business type.
LLCs are a fantastic method to launch your own company. Your LLC must be renewed annually, however. If you live in Hays, KS, be sure you act quickly to meet the deadline. To prevent any inconsistency, you must renew your LLC before the deadline.
Hays, KS, is a vibrant city with a rich culture. Its economy is growing, its cost of living is cheap, and it boasts a rising economy. The city is also well-known for its environmental activities and is home to a large number of green businesses. A company may be launched successfully in Hays.
The first step in starting a company in Hays, KS, is to develop a business concept. Make a draft or business plan with the specifics of the kind of enterprise you wish to launch in Hays, KS.
Yes. You must need workers’ compensation if your LLC in Hays, KS employs employees. You probably can skip this if you don’t have any workers. However, Hays, KS, would benefit from having general liability insurance. For further information, go to the Kansas SOS website.
Hays, KS has been so famous because of its diverse people, culture, and artistic scene. Hays is a commercial metropolis, but visitors are drawn here by the rich culture, people, and educational opportunities.
If you wonder why LLCs are so popular in Hays, KS, then the answer is pretty clear. LLCs are cheap, easy to form, and have a lot of tax advantages. Startups and small businesses prefer to start an LLC in Hays, KS.
It’s easier than it may appear to launch a small company in Hays, KS. There are numerous tools available to assist you in getting started in Hays, a city known for its creativity. It’s a terrific time to start a company in the city since it has so many prospects for entrepreneurs.
The response to this question is very individualized and relies on the person in Hays, KS. Others could want to earn a fast cash, while others might be looking for a long-term investment. The choice of what is best for a person ultimately rests with that person.
One of the finest locations to relocate your firm to in terms of commerce is Hays, KS. Hays is a business-friendly city in Kansas, so moving your firm there won’t be a problem.
Depending on the kind of company structure you have in Hays, KS, the tax burden varies. A sales tax, franchise tax, and employment tax, for instance, may be due if you establish an LLC (if needed). Corporations, however, are subject to paying business income taxes.
One kind of company entity that is not subject to corporation taxes is an LLC. Instead, the corporation distributes its earnings to the owners in the form of dividends, which they then tax. The proprietors of an LLC in Hays, KS, are required to pay taxes on their individual income.
Hays, KS charges $160 for the formation of an LLC. The SOS has been charged a state filing fee. The fees for name reservation, DBA registration, and registered agents are additional expenses. Because tax rates vary by state, so does the overall cost.
Living in Hays, KS is cheaper than living in Houston. Hays has a lower cost of living and is a more affordable place to live. Though, some may find Houston more affordable in terms of a business perspective. It is very relative, depending on the individual.
One of the well-known cities in Kansas is Hays. Small enterprises and creative individuals abound in this area. Although Hays is home to many different kinds of small enterprises, food trucks are by far the most well-liked.
In Hays, KS, an LLC may generate revenue. Selling products to other firms is one option. Providing services to other firms is an additional strategy. You may create a website for them if you own a website-building firm, for instance. You may even provide consultancy services.
You must complete a few prerequisites in order to open a company in Hays, KS. You must first be legally able to do business in Hays, KS. A general business license is furthermore required to operate a company in Hays, KS.
In Hays, KS, you don’t always have to get a license if you’re self-employed. You need to check with the Hays authority for home-based businesses and self-employment rules. It depends on the nature of the business.
Economic development in Hays, KS, is accelerating. The city’s businesses and startups are the reason why this is occurring. Hays’s economy greatly benefits from their presence. The city is attracting more companies. So, in comparison to other cities, it is expanding quickly.
If you’re in the Hays, KS and you’re looking for an EIN number, you can get one from the IRS. You can get the EIN in just a few minutes through the IRS website. You can even get the EIN number for your company if you’re the owner.
In Hays, KS, there are several options to get money for your company concept. You may utilize a crowdfunding website to gather money, go to a bank and request for a loan, or receive a grant from the government. You may look at the various funding options.
In Hays, KS, a sole proprietorship is a superior business structure than an LLC since it is less expensive to start. Comparing both LLC and sole proprietorship in Hays, KS, LLC might be a better choice.
The top five requirements for starting a company in Hays, KS, are: 1. A business plan, 2. 2. A company name, 3. Start-up money, 4. legitimate business licenses 5. A strategy for promoting your company.
All of your paperwork will be received on your behalf by a registered agent for your business in Hays, KS. The registered agent must receive all official, legal, and other papers at their office in Hays, KS. You are permitted to act as your own registered agent.
Hays, KS is thought of as a hospitable location for LLCs. The abundance of benefits offered to businesses is the cause. Additionally, tax breaks and company financing are accessible to companies in Hays, KS.
As long as it is kept up with, an LLC in Hays, KS, may endure forever. In order to renew your LLC on time, you must send your yearly (Franchise) report to the Kansas Secretary of State.
In Hays, KS before you sell your product make sure you have the following things. First, have a proper selling plan, secondly, know your competitors. Third, your customers. Fourth, product pricing, and finally, marketing and promotion of the product. All these are important to sell a product in Hays, KS.
How Fast Can You Start Business in Hays, KS
Hays, a scenic city nestled in the heart of Kansas, boasts a friendly and supportive community that embraces entrepreneurship. Known for its strong work ethic and close-knit atmosphere, Hays offers a conducive environment for aspiring business owners looking to lay the foundation for their ambitious ventures. The city’s blend of urban amenities and small-town charm sets the stage for an expedited and hassle-free business startup process.
One of the key factors that contributes to the expeditiousness of starting a business in Hays is the city’s streamlined administrative procedures. The local government has taken great strides to simplify the various permits, licensing, and applications required by aspiring entrepreneurs. By eliminating unnecessary bureaucratic hurdles, Hays has created an environment that encourages creativity and innovation without compromising efficiency. This translates to a quick and smooth process for obtaining all the necessary permissions and paperwork, allowing entrepreneurs to hit the ground running.
Moreover, Hays offers access to top-notch support services that can significantly expedite the business startup process. The city is home to experienced consultants, including lawyers, accountants, and business advisors who specialize in helping entrepreneurs navigate the initial stages of setting up their enterprises. These professionals have extensive knowledge of local laws, regulations, and tax requirements, which proves to be invaluable when starting a business. By having access to such expertise, entrepreneurs can avoid common pitfalls and make informed decisions, saving them precious time and minimizing potential setbacks.
Furthermore, Hays’ close-knit community is renowned for its overwhelming support of local businesses. The city takes great pride in its locally-owned enterprises and actively supports and promotes them. From chamber of commerce initiatives to community events, Hays provides a platform for entrepreneurs to connect with potential customers, suppliers, and investors. This robust network, coupled with a high demand for unique products and services, facilitates a rapid integration into the local business ecosystem.
In addition, the affordability of starting a business in Hays is worth mentioning. The cost of living in this city is relatively low compared to urban metropolises, which translates into lower expenses for property rental, utilities, and employees. This affordability allows entrepreneurs to allocate their resources wisely and invest in key areas of their businesses, such as marketing and product development, allowing for a quicker time to generate revenue.
In conclusion, Hays, KS provides an ideal environment for entrepreneurs who are eager to start their businesses quickly. From simplified administrative procedures to a supportive network of professionals and a strong sense of community, this vibrant city offers a significant advantage to aspiring business owners. By choosing Hays as the launchpad for their ventures, entrepreneurs can enjoy a swift and efficient startup process, freeing up their time and energy to focus on nurturing their business in this thriving Midwestern community.
In Conclusion
Starting a business in Hays is not only easy but also profitable. A large portion of the US and even people from other countries are registering their business in the US for intercontinental brand building. Besides, Kansas has a sustainable economic atmosphere that is enough to encourage newbies to start and run their businesses in Hays, KS.