Small businesses are the lifeblood of Colorado’s economy, particularly in rural communities. With approximately 680,000 small businesses registered in Colorado making up 99% of all businesses in the state and employing over 1.2 million people, their impact is undeniable. In 2020 alone, these enterprises generated more than $225 billion in economic output. However, the significance of small businesses extends far beyond mere numbers.

Small businesses represent the dreams, passions, and determination of their owners. With an average of 1-19 employees, these enterprises often require their teams to wear multiple hats, fostering a diverse skill set and a deep commitment to success. By supporting these businesses, you’re not just contributing to the local economy; you’re nurturing the aspirations of your neighbors and friends.

Unlike their global competitors, small businesses rely heavily on local patronage. This dependence is reflected in the approximately 13.5% failure rate among small businesses, with lack of capital or funding being a primary cause. This is where community support becomes crucial, not just on Small Business Saturday, but throughout the year.

While Small Business Saturday serves as an excellent reminder to shop locally, the spirit of supporting small businesses should extend beyond a single day. This annual event, held on the Saturday following Thanksgiving, encourages consumers to shop at local, small businesses both in-person and online. It’s an opportunity to infuse money back into local economies, promote diverse communities, and celebrate the vital role of small businesses in Colorado’s economic landscape.

First Southwest Community Fund (FSWCF) plays a crucial role in supporting Colorado’s small businesses through various initiatives. FSWCF offers workshops, webinars, and one-on-one consultations to help entrepreneurs develop their business ideas and identify market opportunities. These educational programs cover essential topics such as business planning, market research, and financial management.

Recognizing that lack of capital is a significant hurdle for many small businesses, FSWCF provides innovative funding solutions. These include low-interest loans and grants for training and technical assistance, along with connections to other financial resources. The fund’s flexible approach helps businesses that might not qualify for traditional bank loans.

FSWCF’s commitment extends beyond initial funding; offering ongoing support to help businesses maintain long-term success. This includes mentorship programs, networking opportunities, and continuous educational resources to adapt to changing market conditions.

To support small businesses year-round, consider shopping locally whenever possible, engaging with small businesses on social media, leaving positive reviews for your favorite local establishments, recommending local businesses to friends and family, participating in local events and markets featuring small businesses, and considering local options for services as well as products.

By making a conscious effort to support small businesses throughout the year, we can help ensure the vibrant, diverse economic landscape that makes Colorado unique. Remember that every purchase at a small business is an investment in your community’s future.

As we approach Small Business Saturday, let it serve as a reminder of the year-round importance of our local enterprises. Together, we can help Colorado’s small businesses thrive, ensuring they remain the backbone of our communities for generations to come.