Exploring Colorado’s Small Business Support Programs

Introduction

Colorado’s small businesses are the backbone of the state’s economy, contributing significantly to job creation and economic growth. As of 2023, small businesses account for 99.5% of all Colorado businesses, employing approximately 1.1 million people (sbdc.colorado.gov). To foster this vital sector, Colorado offers a comprehensive suite of support programs designed to assist entrepreneurs and small business owners at every stage of their journey.

State Programs and Resources

Colorado Small Business Development Center (SBDC)

The Colorado SBDC is a statewide, nationally accredited program that provides free, confidential one-on-one advising, no- or low-cost business training, and connections to community partners and resources across all 64 counties in Colorado. With 14 full-time Service Centers and over 25 Satellite Centers, the SBDC offers support in areas such as:

  • Business planning
  • Financial analysis
  • Marketing strategies
  • Access to capital
  • International trade

    • For more information or to find your local SBDC, visit their website (sbdc.colorado.gov).

    Small Business Navigator

    The Small Business Navigator serves as a first point of contact for Colorado entrepreneurs and small-business owners seeking support. Fluent in English and Spanish, the navigator can assist with:

  • Navigating programs offered by the Office of Economic Development & International Trade (OEDIT)
  • Connecting to local SBDC centers for advising and training
  • Providing information on Colorado Small Business Learning
  • Offering guidance on accessing capital
  • Facilitating connections to state agencies, nonprofits, and other associations

    • To connect with the Small Business Navigator, contact Andrea Chichizola at 303-860-5881 or via email (oedit.colorado.gov).

    State Small Business Credit Initiative (SSBCI)

    Colorado has been awarded over $100 million through the SSBCI grant, aiming to leverage private financing to help small businesses access capital and create new jobs. The program supports:

  • Creation of new venture funds
  • Equity investments to fuel new businesses
  • Support for businesses and communities with historically diminished access to funding

    • For more details, visit the OEDIT website (oedit.colorado.gov).

    Small Food Business Recovery and Resilience Grants

    The Colorado Department of Agriculture offers grants up to $50,000 for small food retailers and family farmers to expand access to healthy groceries in low-income communities. Eligible expenses include:

  • Equipment purchases
  • Operating expenses
  • Storage or display shelving

    • The application deadline for the current round is March 11, 2024. More information is available on the Department of Agriculture’s website (ag.colorado.gov).

    Local Resources

    Pikes Peak Small Business Development Center

    Serving the Pikes Peak region, this SBDC offers free and confidential advising and no- or low-cost training programs. They assist with:

  • Business planning
  • Financial analysis
  • Marketing strategies
  • Access to capital

    • Contact them at:

  • Phone: 719-667-3803
  • Email: info@pikespeaksbdc.org
  • Address: 559 E. Pikes Peak Ave., Suite 101, Colorado Springs, CO 80903

    • For more information, visit their website (sbdc.colorado.gov).

    Specialized Business Support

    In addition to the SBDC, several other offices and departments provide specialized support for small businesses:

  • Colorado Green Business Network (CGBN): Offers assistance with energy-saving and greenhouse gas reduction projects. Grants are available for businesses to implement energy efficiency upgrades. For more details, visit their website (cdphe.colorado.gov).
  • Small Business Assistance Program: Provides environmental compliance assistance and connects businesses with resources to meet environmental regulations. More information is available on the Colorado Department of Public Health and Environment’s website (cdphe.colorado.gov).

    • Conclusion

    Colorado’s commitment to supporting small businesses is evident through its diverse programs and resources. Entrepreneurs and small business owners can leverage these opportunities to access capital, receive expert guidance, and enhance their operations. By utilizing these state programs, businesses can thrive and contribute to Colorado’s vibrant economy.

    Key Facts

  • Small businesses constitute 99.5% of all Colorado businesses, employing approximately 1.1 million people.
  • The Colorado SBDC operates 14 full-time Service Centers and over 25 Satellite Centers across all 64 counties.
  • Colorado has been awarded over $100 million through the SSBCI grant to support small businesses.

    • Sources

  • Colorado Small Business Development Center, 2023. (sbdc.colorado.gov)
  • Colorado Office of Economic Development & International Trade, 2023. (oedit.colorado.gov)
  • Colorado Department of Agriculture, 2023. (ag.colorado.gov)
  • Pikes Peak Small Business Development Center, 2023. (sbdc.colorado.gov)
  • Colorado Department of Public Health and Environment, 2023. (cdphe.colorado.gov)