CENTRAL SPRINGS, Colo. (KOAA) — Colorado Springs has been named the No. 1 city in the nation for small business growth, according to a new ranking from BlueVine, a national bank that caters to small businesses.
BlueVine ranked 100 metro cities to find where small businesses are growing with the most momentum — and Colorado Springs topped them all. Local business owners say this ranking means a lot for the small business community.
More than 90% of downtown Colorado Springs businesses are locally owned.
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"I think it's a win for all of us I think is a great opportunity for all of our entrepreneurs to continue to show up to build small businesses and to just give back to our community," Uyen Le, owner of Beauty Bar, said.
Since the start of 2023, there have been more than 120 small business openings in Colorado Springs. Overall, downtown hosts more than 1,500 business establishments — and that number keeps growing.
Not everyone saw the recognition coming at first.
"I was surprised, once you start reflecting on it, not too much I guess," Leif Anderson, co-owner of Mash Mechanic Brewing, said.
Peri Bolts, co-owner of Eclectic Co., said the variety of what downtown has to offer is a major draw for customers across the city.
"Colorado Springs is big geographically, so if you come from Briargate or you come from Powers, we really want you to stay downtown. Have a meal, have coffee, get your hair done, get a massage. Do some retail therapy. There's everything that you could want downtown, so you park once and you check all of the things off your list," Bolts said.
Getting the community excited about shopping local is one piece of the puzzle.
"It's all about being a community and people generally do support local businesses and want us to grow because if we're not growing they're not growing and we're not growing the city is not growing," Le said.
One Downtown Partnership initiative is the Holiday Coupon Book — and this year, the print run has been upped from 9,500 to 12,500.
But that isn't the only way the organization is getting people to shop local. They're also hosting a Shop Local and Win Local event. From Nov. 6 through Dec. 13, every $50 someone spends at Downtown retailers earns them one entry to win, with five weekly $250 Downtown prize packages and a $1,000 grand prize up for grabs.
"We're a tight community and, and people do support small business in Colorado Springs, and that's a big part of it that that getting the community support behind the small business," Anderson said.
It isn't just events and community spirit — Colorado Springs also has dedicated resources for business owners looking to expand.
"Small business owner life is really hard, but Colorado Springs specifically has such beautiful infrastructure for that. Our SBDC, Small Business Development Center, is one of the best in the country," Bolts said.
Still, challenges persist. The rising costs of leases, products, fuel, and insurance continue to put pressure on small business owners.
"It just keeps going up and up," Le said.
But those owners don't have to face those pressures alone.
"Every time I know a business owner is struggling with something, I always try to funnel them to the resources that are there because often they're free, often they're taxpayer funded," Bolts said.
As for whether the No. 1 ranking comes as a surprise? Bolts says it doesn't.
"I am not surprised actually. I think Colorado Springs has been small business friendly for a long time, especially since the COVID era, and I'm happy that we're recognized for it," Bolts said.
