We believe in you! Many of today's small businesses in Denver will become the larger businesses of tomorrow--generating job growth, building supply chain needs and creating returns for investors.
Our team at The Commons at Champa, 1245 Champa St., offers one-on-one help to not just startups but small, growing firms as well. It's all free and you can walk in--or make an appointment--as you prefer. Here's our Fall/Winter 2015 schedule and contact information.
LET'S TALK! We know that every business, and every business owner, is unique. If you'd rather start with personalized attention from one of our staff members:
Chances are that a key ingredient to your next chapter of business growth is finding the right people to hire. We have a wide roster of services to match our city's top talent with the positions you need to fill today. We can save you significant time and money--and our services are free.
Screening, recruiting, job fairs, wage subsidies, special training--we do it all! Learn more here.
OED is also the grant administrator of a major push to train and hire the long-term unemployed, boosting our regional talent pool of middle-skill workers in the growing fields of manufacturing and technology. Learn more about how you can benefit from the TEC-P Ready-to-Work Partnership here.
There is a wealth of information about adding workers who are veterans, too. Learn more here.
If your plans call for either a new location or an added location in Denver for your business, be sure to review Steps 5 and 6 here regarding permits to remodel and/or occupy new space.
For retail expansions or relocations, be sure to check out www.denverretailscene.com.
For fresh-food grocery additions or expansions, we are eager to improve food access and affordability in underserved Denver neighborhoods. Start by learning about Denver FRESH. All things retail are the specialty of OED's Eric Swan, 720-913-1702.
If you are a manufacturer or supply materials to manufacturers and want to explore expansion opportunities in Denver, we're developing an asset/resource map. And OED has a great resource in Peggy Severson, 720-913-1625.
Significant benefits and tax credits await companies that strengthen our commercial and industrial economy in the Denver Enterprise Zone. Get details from Lynn Sargent, 720-913-1707.
Small business is big in Denver! Let us know how we can help connect you to the resources you need. Contact Carrie Singer, 720-913-1521.
Did you know that when you invest in building your business in Denver, you can qualify for a tax credit?
"Business personal property" refers to the assets used in conducting a business. The chief characteristic distinguishing a business' personal property from real property is mobility--meaning it can be moved from one place to another. Some examples include office equipment, communication equipment, tools, fixtures, machinery and equipment used in construction and manufacturing.
Denver's business owners can get a business personal property tax credit through the Business Investment Program, launched in 2013 and designed to encourage business start-ups and reward existing businesses of all sizes that expand their operations in Denver. This program rewards qualified businesses who expand their facilities, add new employees, and buy new equipment. The tax credit applies to investments you make in your business' personal property, including eligible machinery, equipment, furniture, vehicles, and other items related to a commercial or industrial operation. (Note that this program rewards you for net new purchases, not replacement equipment.)
Finding the money you need from the best possible source is an important consideration for any expanding business. We will work with you to explain and review the various economic development financing programs available, including loan guarantees through the Small Business Administration (SBA) or Private Activity Bonds, and help determine which makes the most sense based on your industry, situation and needs.
Remember that to obtain business financing from a public or private entity, including investors, you must be ready to present a strong business plan. Learn more here.
OED offers two programs that provide gap financing. “Gap” financing is used when the banks and business owner are unable to secure all of the funds necessary to complete the total project amount, leaving a “gap” between the two. In these situations, OED may be able to provide the remaining funds.
-- Revolving Loan Fund
This program can provide up to 25% of a project costs and must be located within specific geographical areas within Denver. Learn more here.
-- Neighborhood Business Revitalization Loan Program
This program can provide up to 50% of a project’s financing. The availability of this program is limited to specific geographic areas within Denver. Learn more here.
We updated the OED report, the Denver Capital Matrix, in Fall 2015.
The Colorado Office of Economic Development and International Trade (OEDIT) offers various incentive programs for growing and expanding firms. Learn more here.
One of the best ways for a small, growing firm to reach new customers here in Denver is through your active participation in a chamber of commerce. Networking events, engaging with other business owners, and promotional opportunities are the tangible benefits of your annual dues. Here is a list of local chambers.
We work to expand opportunities for businesses of all sizes to better compete for contracts in the public sector. Our Division of Small Business Opportunity (DSBO) works specifically with women- and minority-owned firms on a range of certifications. More information here.
Small business training is not just for startups; in fact, two nonprofit organizations that offer services (such as one-on-one mentoring) that are particularly useful for firms hoping to grow are SCORE Denver and the Denver Small Business Development Center. OED helps promote a variety of free and low-cost business events in Denver in our calendar.
If you are considering growing your customer base by exporting your product, reach out to OED’s international business specialist, Abdul Sesay, at (720) 913-1544. You can also get information from the U.S. Department of Commerce.
There is more evidence every year that businesses of any size that are truly integrated into a community are more likely to thrive.
Civic involvement, "giving back," community relations, corporate philanthropy--there are lots of ways to describe this concept. And even more ways to make it real for your company in a way that is right for you.
Once upon a time it was thought that only wealthy individuals or business owners should be expected to practice philanthropy. It was assumed that for a business to sponsor nonprofit events, underwrite community projects, write big checks and so on was something either reserved exclusively for "big" companies and/or for ones that were long-standing institutions--stable, wealthy, mindful of leaving a legacy.
Over and over, younger entrepreneurs and emerging companies are demonstrating that this is simply no longer the case. Today's startup and emerging companies are often just as passionate about their communities and their "civic citizenship" as they are about the bottom line. They are living proof that there is a direct link between the two. Corporate America's philanthropy has dropped overall and today is more likely to be aligned with strategic marketing goals and carefully researched ROIs--but small business and midsize firms have risen to help fill the gap. Many businesses today actively support issues--like literacy or soil erosion or animal protection--that have no connection to their product line or sales goals.
OED strives to encourage your civic engagement by providing a range of resources and highlighting best practices. You may also contact OED's Carrie Singer, 720-913-1521.