Perhaps you’re thinking about starting a new company. Or, maybe you’re contemplating moving your existing business to a new location. Either way, you may boost your chances of success by making Denver your company’s new location, according to business expert Brian Ferdinand in a recently published article. Let’s take a look at what makes Denver so attractive on the entrepreneurial front.
Business and Government
Denver is a bustling mountain-area metroplex that offers a wide range of business opportunities in areas such as technology. Other industries that are booming in Denver include finance, bioscience, health care, energy, aerospace, and telecommunications.
However, in addition to being a business-heavy area, the city is saturated with government offices that represent some of the United States’ most important agencies, such as the Environmental Protection Agency. Multiple military bases are also located near Denver, including Colorado Springs’ Fort Carson Air Force Base and Aurora’s Buckley Air Force Base.
Between the high demand in Denver for services and products in a wide range of industries, coupled with the presence of many military professionals, you’ll have a large customer base in the city as long as you provide an extremely marketable product or service there.
Additional Reasons For Choosing Denver
From a financial standpoint, every state features different costs related to business ownership, and Denver’s costs tend to be more favorable in areas such as workers’ compensation. Let’s say that you plan to start your own cleaning service. You’ll have to pay between 2% and 6% of your payroll expenses in the majority of states. In Colorado, you can expect your expenses to be in the low range. Meanwhile, the cost can be as high as a whopping 25% of your payroll expenses in California. Thus, doing business in Denver seems to make more sense than doing business in a California municipality, for example.
Another reason to choose Denver as the birthplace of your business? You’ll receive plenty of support from leading business experts in the city. For instance, you can take advantage of resources like the Denver Capital Matrix, which the city’s economic development office has made available for entrepreneurs seeking either private or public funding.
In addition, the city’s chamber of commerce is passionate about advocating for and bolstering businesses in the area. Thus, you can expect this chamber to serve as your voice as needed and provide you with many events and resources to help you to elevate and sustain your business long term.