Conversations about entrepreneurship often focus on Silicon Valley, Boston or other major metropolitan areas, yet Missoula and Bozeman, Montana enjoy some of the highest levels of entrepreneurship in the nation in terms of startup and high-growth companies, as well as spinoff activities, according to a report funded by the Ewing Marion Kauffman Foundation.Missoula and Bozeman rank 9th and 12th highest in startup rates among 394 areas in the U.S., and the proportion of high-growth firms is particularly high in Bozeman, higher than Denver (9th in the nation) and almost compatible with Washington, D.C. (1st in the nation), according to the report.

Recruiting skilled workers is the #1 barrier to growth for Montana high-tech and manufacturing companies. At the Montana High Tech Business Alliance CEO Roundtable hosted by Yellowstone Bank in Billings, leaders emphasized the role of company culture in finding good people and keeping turnover low.