Gov. Jared Polis wants to make small businesses a priority of his administration and at a presentation to government leaders last week in Berthoud, he spoke about the need to lower barriers to those starting new businesses.
The governor, who got his start by founding several startups of his own, addressed topics including reducing incorporation costs and increasing access to affordable housing.
“You have to have a place to live if you’re starting a business,” Polis said.
Polis discussed the impact housing can have on entrepreneurs, especially in Colorado’s mountain towns. Conversation in the room touched on the recently passed Colorado House Bill 22-1117, which could direct tax revenue from hotels and other lodgings toward affordable housing for workers in tourism-dependent areas.
Adam Shake and Josh Cramer from the Estes Park Economic Development Corp. addressed their community’s efforts to encourage entrepreneurship.
Estes Park’s small size and location have led to a median home price north of $600,000.
With high stakes for businesses, leaders in Estes Park have had to get creative to help small businesses.
In addition to advocating for municipal high-speed broadband for Estes Park residents, another program enacted after the 2013 flood has been the Business Accelerator Services of Estes, which provides training to cohorts of local business owners.
“Entrepreneurship is a community sport,” Shake said.
The Business Accelerator Services of Estes isn’t the only incubator in the region. Fort Collins-based Innosphere, Loveland-based Warehouse Business Accelerator and the Small Business Development Center all sent representatives to advise local leaders.
The summit kicked off with a keynote presentation from Niroj Bhattarai, a professor of economics at Colorado State University.
Bhattarai warned those in attendance that only 28% of Colorado startup founders stay in Colorado upon a successful launch. He advised local leaders to find the right balance in lowering some, but not all, barriers to doing business.
“Some friction is necessary, even from an entrepreneur’s perspective,” Bhattarai said.
Following Bhattarai’s presentation, panels of local entrepreneurs offered advice on how to make cities more welcoming to small businesses. City Star Brewing’s Whitney Way advised cities to make their permitting processes more transparent and improve infrastructure in business areas.
“These are things that benefit the people in your community but also attract business, too,” Way said.
Other local businesses offered updates on opportunities they’ve found in Berthoud and beyond. Nick Doucette of rocket engine company Ursa Major Technologies Inc. spoke about Berthoud’s infrastructure already being in place to help his company.
“We sold this thing, we can build it, but where can we test a rocket engine?”
Ursa Major was able to acquire a Berthoud testing site formerly owned by Ball Aerospace & Technologies Corp. to safely test the company’s small engines.
Ursa Major isn’t the only space company in Berthoud. Agile RF Systems LLC is constructing a new facility in town with specially designed tall ceilings to test space antennas. Green construction company EnergyLogic Inc. also calls Berthoud home.
One suggestion to aid small business owners was the loosening of zoning requirements to allow entrepreneurs to work from home. Many of the incubators in the region offer spaces for small businesses to operate as of right now, from new wet lab space at Innosphere to industrial space in the Warehouse Business Accelerator and office space Desk Chair LLC in Loveland.
Jim Doherty, community director for Desk Chair, was optimistic about the space’s role in small business in the region.
“It’s working; we’re providing this environment for people to get work done,” Doherty said.
Entrepreneurship in Northern Colorado will likely keep growing as the region recovers from the pandemic and continues to grow.
“I think we have a lot going for us here, but it takes a lot of deliberate effort,” Polis said.
This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.
