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News & Press: Colorado Technology Industry

Best Places to Start a Business in Colorado

Monday, July 6, 2015   (0 Comments)
Posted by: Fred Bauters
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NerdWallet considers business climate and local economic health

San Francisco, CA (June 30, 2015) – NerdWallet, a consumer finance website, has conducted a study to find the best places in Colorado to start a business.

To determine this ranking, NerdWallet examined 85 places in Colorado with populations of 5,000 or more and analyzed the following factors:

• Business climate
o Average revenue of businesses
o Percentage of businesses with paid employees
o Businesses per 100 people
• Local economic health
o Median annual income
o Median monthly housing costs
o Unemployment rate

Colorado is scoring big with business, and it’s due to a triad of factors that lure in entrepreneurs: technology, talent, and tourism. Many of the top cities in this study are tourist hot spots, with skiing, rafting, fishing and other outdoor activities drawing in millions of visitors each year. Technology, however, is also a major factor driving many of these same cities to their high rankings on NerdWallet’s list. In fact, Colorado has been recognized as the No. 1 state for its concentration of technology businesses.

NerdWallet’s top five cities for starting a business are Greenwood Village, Aspen, Steamboat Springs, Estes Park and Glenwood Springs. See the full study here.

About NerdWallet
NerdWallet is a personal finance site for consumers. Our data-driven tools and content enable consumers to make well-informed decisions across a broad range of financial topics, like buying a house, saving for retirement and starting a small business.

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