The U.S. Small Business Administration on Wednesday launched Startup in a Day, an effort to simplify and expedite the licensing and permitting processes for new businesses. The White House initiative includes Kansas City and 11 other cities.
The basic premise of the effort is that licensing and permitting for new businesses shouldn’t take more than a day; the current system is too complex, and it is frustrating and discouraging would-be entrepreneurs.
As part of the effort, the Small Business Administration is offering $50,000 prizes to up to 25 cities that create or implement tools to make the process faster. A $250,000 prize will go to one city that produces an open source solution that others can use.