The sign at the Mash Mechanix Brewing taproom door rattles with the lunch rush. Inside, co-owner Leif Anderson is checking keg lines. He heard the news. Everyone downtown did. BlueVine, a national financial institution, just ranked Colorado Springs the number one city in the country for small business growth. Anderson wiped his hands. He considered it. “I was surprised,” he admits. Then he looked around at the foot traffic filling his space. “Once you start reflecting on it, not too much, I guess.”
His reaction captures the quiet reality of this Colorado metro. This is not an overnight boom. It is the result of a deliberate, community-fed ecosystem that has been building momentum for years. Since the start of 2023, over 120 new small businesses have opened their doors here. Downtown alone now hosts more than 1,500 establishments. The growth is tangible. You can walk it. You can taste it in a local brew. You can see it in the “Now Open” signs that seem to pop up monthly.
What makes this place different? It starts with a conscious choice to park once and stay. Peri Bolts, co-owner of the gift shop Eclectic Co., explains the local mindset. Colorado Springs is geographically vast. Residents might live in Briargate or off Powers Boulevard. The downtown partnership, and business owners themselves, actively work to make the core a destination. “We really want you to stay downtown,” Bolts says. “Have a meal, have coffee, get your hair done, get a massage. Do some retail therapy. There’s everything you could want.” This isn’t just hopeful marketing. It is a strategic clustering of services that turns a single errand into a full day supporting local enterprises.
The infrastructure supporting these dreams is robust. Colorado has long been recognized for a business-friendly regulatory climate with low corporate taxes and a streamlined administrative process. But the local support network is what owners cite most. “Our SBDC, the Small Business Development Center, is one of the best in the country,” Bolts states. She emphasizes that these resources are often free and taxpayer-funded, a critical lifeline for early-stage companies. The U.S. Small Business Administration reports that small firms employing fewer than 500 people represent 99.5% of all Colorado businesses. The state’s dedicated office facilitated over $1.2 billion in lending to these companies in the last fiscal year, a signal of both demand and institutional support.
Community initiatives translate this support into direct action. The Downtown Partnership’s annual Holiday Coupon Book saw its print run jump from 9,500 to 12,500 copies this year. Their “Shop Local and Win Local” event turns everyday spending into a game. For every $50 spent at a downtown retailer from November 6 through December 13, a customer gets an entry to win weekly prizes and a $1,000 grand prize. It is a clever incentive that makes supporting small businesses feel participatory and rewarding.
Uyen Le, owner of Beauty Bar, sees this community spirit as the core fuel. “It’s all about being a community,” she says. “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.” Her sentiment reflects a macroeconomic truth often lost in larger cities. According to a study by the American Independent Business Alliance, locally owned businesses recirculate a significantly higher percentage of revenue back into the local economy compared to national chains. This creates a virtuous cycle of investment.
The challenges are real and familiar to any business owner. Le points to the relentless pressure of rising costs. “Leases, products, fuel, insurance. It just keeps going up and up,” she says. Inflationary pressures and supply chain disruptions, detailed extensively in Federal Reserve Beige Book reports throughout 2024, have squeezed margins nationwide. Yet here, the struggle seems less isolating. Bolts makes it a personal mission to connect struggling peers with resources. “Every time I know a business owner is struggling with something, I always try to funnel them to the resources that are there.”
So, is the number one ranking a true surprise? For those on the ground, the data simply confirms what they have been building. “I am not surprised actually,” Bolts concludes. “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.” The ranking from BlueVine is a snapshot. The real story is the durable network beneath it—a combination of pragmatic infrastructure, creative incentives, and a culture that understands its own economic fabric. It is a model that other cities eyeing revitalization would do well to study. The growth is impressive. The foundation is what makes it sustainable.
- Over 120 new small businesses opened in Colorado Springs in 2023
- Downtown hosts more than 1,500 establishments
- The Small Business Development Center is highly regarded
- Local businesses impact the economy by recirculating revenue
- Community initiatives encourage local spending
- Business owners actively support one another
| Aspect | Details |
|---|---|
| Ranking | Number one city for small business growth |
| New Businesses | 120 in 2023 |
| Community Support | Strong local network and resources |
| SBDC | One of the best in the country |
| Economic Impact | 99.5% of Colorado businesses are small firms |
| Lending Support | Over $1.2 billion facilitated in last fiscal year |
