Travelers Institute And Ewing Marion Kauffman Foundation Co-Host Forum With Kansas City’s Top Small Business Leaders

The Travelers Institute, the public policy division of The Travelers Companies, Inc. (NYSE: TRV), and the Ewing Marion Kauffman Foundation today convened regional leaders from the Greater Kansas City Chamber of Commerce and U.S. Small Business Administration, as well as local business owners, to discuss economic opportunities for the state’s small businesses and entrepreneurs. Small businesses account for a significant share of the region’s economic production and hiring, representing nearly 98 percent of Missouri’s employers and nearly 97 percent of Kansas’ employers according to the SBA.

“As one of the nation’s largest insurers of small businesses, we understand the fundamental role they play in the health of the economy, and we are committed to helping identify solutions to the daily challenges small businesses face,” said Joan Woodward, Travelers Executive Vice President of Public Policy and President of the Travelers Institute. “By working with state agencies and entrepreneurial-focused organizations like the Kauffman Foundation, we believe we can help create an environment where small businesses can thrive.”

Bob Litan, Vice President of Research and Policy at the Kauffman Foundation, said, “Our research continues to highlight the importance of a healthy entrepreneurial climate. Small businesses, new ones in particular, are the backbone of the economy and our goal is to support these entrepreneurs by advocating for a vibrant business environment across the country. We are thrilled to partner with the Travelers Institute on its ‘Small Business – Big Opportunity’ series, as it’s an excellent platform on which to accomplish those goals.”

Woodward moderated the panel, which featured a Missouri-based small business owner and economic leaders, including:

• Pat Brown-Dixon, Regional Administrator, U.S. Small Business Administration
• Jim Heeter, President, Greater Kansas City Chamber of Commerce
• Bob Litan, Vice President of Research and Policy, Kauffman Foundation
• Danny O’Neill, Owner, The Roasterie, Inc.

At the event, panelists discussed barriers to accessing necessary financing, while offering tips for obtaining small business loans. In addition, panelists touched on other business challenges impacting small business growth and job creation, including risk management, business continuity planning and regulatory burdens. Specifically, they discussed challenges in getting permits and licenses, as well as meeting requirements at the local level.

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