We have previously discussed how popular Colorado is becoming with entrepreneurs on this blog. Based on a number of factors unique to the state, business owners have been flocking to parts of Colorado to launch their startup business. But a new study confirms just how many startups began last year.
According to the study conducted by a group of digital entrepreneurs, there were 122 new companies launched in the state of Colorado last year. This means that on average, a new venture was launched every 72 hours, or every three days.
Besides being a culturally and socially desirable place to live, Colorado is also home to a number of investors looking to help new companies get off the ground. The recent study suggests that about $502 million was raised by startups last year.
The two most popular cities for generating startup capital were Denver and Boulder. Denver had 33 companies that raised over $1 million while Boulder topped that with 36 companies raising over $1 million. This promising trend has many industry leaders hopeful that the rate and success of these investments will continue to increase as more and more entrepreneurs come to this state to start a new business.
People in Colorado who are looking to startup a business or expand an already existing company often need the secure funding and venture capital. Even though many companies have found success in the last year raising these funds, the process can be complex and confusing, especially for first-time business owners. A business law attorney can help entrepreneurs develop an attractive business plan, locate possible investors and make sure there is a beneficial and legally binding plan in place before closing the deal.
Identifying and attracting investors to a high-risk startup company can be difficult. However, it is clear from recent reports that Colorado business owners are among the most successful at doing so.
Source: Forbes, “Colorado Launches A New Startup Every 72 Hours,” Karsten Strauss, June 10, 2013