Colorado Among Best States for Entrepreneurs Despite Pandemic
They say the best ideas come out of hard times.
I've heard a few stories about businesses that were born in the midst of less-than-ideal times. One is Uber. The company launched in 2009, but I think much of the foundation was built in the 2008 recession. Now, maybe you're not willing to throw yourself into a business launch, but maybe you have an idea or a dream for a business. This year should not stifle those dreams for one second. In fact, if you can persevere in these tough times, nothing can stop you.
And Colorado is a pretty good place for entrepreneurs, so go for it!
Forbes recently put together a list of The Best and Worst States for Entrepreneurs in 2020. Among the best states is Colorado ranking in at number four. We fell just a few spots shy of the top spot behind Utah at number one, followed by Florida and Texas. The business publication looked at growth of venture capital for startup companies since 2018 and the percentage of entrepreneurs per residents in each state.
Forbes also discovered that despite the pandemic, small businesses are flourishing.
Citing a report from Guidant Financial, Forbes says 78 percent of small businesses are reporting profits in 2020. Business owners also reported higher levels of happiness and confidence than in recent years. And loan approvals for these entrepreneurial endeavors has been rising since 2018.
I think this year has taught all of us that helping others is paramount. I know that I've had a renewed interest in buying local and shopping small. I would bet many of us intend on keeping that up in the future.