This blog is by CoffeeWithJR guest blogger, Eva Benoit.
If you’ve been thinking about relocating or starting a business in Denver, the time has never been better. In addition to being one of the most picturesque places in the country, Denver is also known for its business-friendly climate, a workforce pipeline of well-educated professionals, its robust housing options, and its reasonable cost of living. Coffee With JR provides a wealth of resources for professionals with a focus on diversity and mental health and wellness.
Denver Business Environment
Running a business in a city with a collaborative and supportive business community can make all the difference in the success of your operation. This is especially important when the economy is in flux, and you need a solid base of operations. The Denver area is home to numerous resources for business owners, including support services from a variety of business organizations, including:
- Denver Metro Small Business Development Center
- Denver Metro Chamber of Commerce
- City of Denver
- Denver SCORE
- Denver Founders Network
Denver is also home to a wide range of industry associations that provide networking opportunities and access to business-related training resources.
Denver Business Quick-Start Checklist
The Denver Department of Economic Development offers comprehensive support services to help you get your business off the ground and running. This includes access to a business assistance center, business licensing office, and resources related to zoning and building permit information. Key start-up requirements include:
- Securing a business license
- Developing a legal structure
- Finding a business location
- Writing a business plan and applying for financing
- Hiring employees
- Establishing a budget and launching your operation
As a business-friendly city, Denver city and county governments make access to agency tools and resources readily accessible to business owners, from idea cultivation through the startup.
Quality Of Life
According to U.S. News & World Report, Denver has been named one of the top 15 places to live. The city received the designation due to its wealth of cultural events, its outdoor recreational opportunities, and the quality of its public schools. Popular activities and attractions include:
- Denver Arts Festival
- Gilpin History Museum
- Arts Complex Denver
- Colorado Symphony
- A Taste of Colorado
Denver is home to a varied food scene – Denver Restaurant Week is a must – as well as home to numerous regional parks and trails. The performing arts are also alive and well in Denver, providing residents with countless opportunities for creative exploration and immersion.
Housing and Rental Market in Denver
When you operate in a city with a low cost of living, you not only have financially beneficial operating expenses but lower overall labor costs. You can also use the financial climate to create a longer “runway” for your business to get established, up, and operating, all without breaking the budget. Both the rental and housing markets offer variety in living accommodations. In late 2021, Apartment List noted the rent of a one-bedroom apartment in Denver averaged about $1,700, while a three-bedroom was in the $2,700 range. Downtown Denver represents the highest rental rates, while the business district offers more affordable options. The average median price for a home in Denver is in the range of $550K.
Denver Education
An educated workforce is a powerful workforce, and Denver is home to a wide variety of K-12 and postsecondary educational offerings. From charter, private and public schools to technical training institutes and community colleges, lifelong learning is highly encouraged, and the result is a worthy talent pool for business owners to draw from.
- University of Denver
- University of Colorado, Boulder
- University of Colorado, Denver
- MSU Denver
- Community College of Denver
Denver is also home to educational arts programs, leadership, and preparatory schools. Many institutes of higher education have collaborative partnerships with the business community.
Why Business Location Is Critical
While many large metro cities are commerce-friendly, quality of life, cost of living, and workforce pipeline are important issues for business owners to consider. When a city has numerous cultural, artistic, and educational opportunities for its residents, as well as an affordable housing market, it becomes more attractive to employees and to investors. Establishing your company in an area where people want to raise their families helps ensure you have ongoing access to talent, a robust economic environment in which to operate, and generally happier employees who are more loyal and productive.
There are numerous factors that go into selecting a business location. In addition to your space needs, your operating budget, your industry, and your workforce needs, you’ll also want a safe location. Denver is a flourishing city with a varied, strong economy, a diverse population, a wealth of educational offerings, and myriad opportunities for outdoor recreational pursuits.
Coffee With JR offers a variety of training, coaching, and mentoring services related to diversity, equity, and inclusion, with a focus on mental and physical health and wellness. Learn more by visiting the site, or email JR for more information.
Photo by Pixabay
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