The Kauffman Foundation and Thumbtrack.com released their annual rankings last week and named Colorado Springs, Colorado, as the third best city in the United States for starting a small business. Thumbtrack is a website used for finding and hiring local services. After surveying more than 6,000 small businesses around the nation over a two-month period, the website put Colorado Springs as one of the best places in the country to start and grow a small business and gave it an A+ rating.
Some of the key findings from the survey include how easy business formation is for Colorado Springs' overall regulatory system. It also noted that South Central Colorado's small businesses are some of the state's healthiest, with the Denver metro area following as the next healthiest small businesses in the state. And some surprising results from the survey found that 14 percent of small businesses owned by women were more likely to report they felt economically stronger than did male-owned businesses.
Some of the survey's questions asked respondents to rate their state's support system for small business owners and whether or not they would encourage someone to start a business in their state. It also asked them to rate their own company's financial status. Overall, Colorado earned a B+ in the rankings and was 13th among the 50 states. The survey used 15 different metrics, including training programs, networking programs, hiring costs, economic health and optimism about the future.
Starting a new business can be a daunting task at first however, with the services of a law firm focused exclusively on business law and business formation and planning, including finding and securing venture capital and startup assistance, it is easier to start your business on a solid foundation for the future. The right business law firm can help you structure your business for optimal growth and minimal tax liability so you can concentrate on the daily operation of your business and feel confident the legal issues are fully covered.
Source: Colorado Connection, "Colorado Springs #3 city in U.S. for small businesses," Jaryd Wilson, June 11, 2012