How To Start A Business In Colorado
Entrepreneurship in Colorado
Coloradans have invented everything from the Teddy Bear to the Jolly Rancher. They were even rumored to have invented outdoor Christmas lights in the early 20th century on the 6th street mall. It's no wonder so many great entrepreneurs have come from Colorado.
With people like Curt Richardson (founder of the OtterBox), and Andrew Rees (CEO of Crocs) to look up to, Coloradans love to lead entrepreneurial teams that change the world.
Containing 4 National Parks, and world renowned ski resorts the centennial state is a great place to start your small business.
Registering Your Business
Registering your business is one of the first steps to success.
And with Colorado’s 50 dollar fee for starting an LLC, it's important you get it right.
Decide what kind of model is right for you (LLP, LLC, Corporation, Sole Proprietorship). Most small businesses start with an LLC. If you’d like an LLC, S-Corp, or C-Corp done for you, we’d be happy to do that on your behalf.
Before you start your business, look around to understand the market in Colorado.
With an abundance of rich natural resources, Colorado has a ton of business potential.
According to TaxFoundation.org, Colorado ranks a medium 21st in the race for the overall best business tax climate.
Another good way to understand Colorado’s market is to visit your local Chambers of Commerce.
You can use your local chamber of commerce to identify opportunities and threats in your local community. It’s a great way to get started on the bottom 2 quadrants of your SWOT analysis.
We’d recommend looking through it and identifying competitors in your industry, and identify the points of parity you need to live up to, and how to better leverage your points of differentiation.
Colorado is full of hard working people that can be amazing assets to your company.
Unemployment rate in Colorado:
Information from Colorado.gov
Average annual salary in Colorado:
30.3 dollars an hour
Information from Zip Recruiter
Education levels for residents of 25 and older:
Graduate or Professional degree
Information from Statista.com
Price index yearly growth: 18.87%
Medium house price: 343,000 dollars
National average house price: 269,039 dollars
Colorado is a unique place to start a business. We hope that the resources and points we brought up here will help you start a business there.
If you’d like to dive deeper into how to start a business, check out our much longer article How To Start A Business. Use both of them to get started on the right foot from day one.
About the Firm...
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