Hard financial times have become evident in nearly every state in the United States. Governments, businesses and individuals have been struggling to stay afloat for years; and nearly every legislative branch has put substantial effort into attempts to bridge the economic gap – authorities in Colorado are no exception.
New developments on the horizon in Colorado mark an uptick in economic development efforts. According to governmental authorities, one of the state’s goals includes the development of a venture capital fund. In addition to venture capital development, the state has released a proposal indicating its intent to maximize efforts to effectively administer federal grant money and explore innovative revenue and tax policies.
The news will likely come as a pleasant surprise to many entrepreneurs. And one county commissioner told reporters that he is excited to see new developments that may help overcome economic issues. He went on to say that no one singular entity can solve all of the state’s economic troubles, but the joint efforts have accomplished some outstanding goals.
The development of a venture capital fund would likely create an avenue of further economic improvement. By propagating the growth and development of new businesses, the state can improve its overall financial outlook. Gaining access to venture capital funds once the program has been established is an entirely different story.
Individuals who hope to take advantage of impending funds may benefit from consulting with a legal professional who’s knowledgeable in business and commercial law, and can offer advice on the use of venture capital for business development.
Source: The Summit Daily, “Hickenlooper’s econ plan promises to market ‘Colorado brand’,” Caddie Nath, July 20, 2011