Energize Colorado - Small Business News and Updates

Marketing graduate student helps Energize Colorado with data visualization project

By Kristal Griffith

(DENVER, CO) — Energize Colorado is proud to announce that it has delivered $45 million to about 5,000 of Colorado’s smallest businesses through its Gap Fund and Energize Community Program (ECP), since the founding of the organization in May 2020. This work advances resilience and promotes equity throughout Colorado’s small business ecosystem and is made possible through strong partnerships with the Colorado Office of Economic Development and International Trade (OEDIT), Colorado Housing and Finance Authority (CHFA), community lenders and partner organizations who share Energize Colorado’s mission. Today, Energize Colorado delivers capital through its new revolving loan fund, which expedites the time it takes from loan application to receiving funds. ECP is Energize Colorado’s first program that deployed funds through its revolving loan fund.

At Energize Colorado, we know that solopreneurs play a key role in the small business ecosystem. We also know that a large portion of solopreneurs are in the health and wellness space. That’s why our mental health team launched a workshop specifically for wellness professionals looking to start their private practice. This was designed by Kristen Jackson – Mental Health Segment leader and owner of ReCenter – and volunteer Suzan Perrault.

Small business owners have a lot to manage – renting space, staffing, invoicing – the list goes on. At Energize Colorado, we want to create opportunities for small businesses to learn about all of the resources that exist to support them. Coming off of the Energize Community Program Gap Fund Loan Application period, we hosted two Small Business Resource Fairs aimed at connecting small business owners with small business support organizations that offer grants, loans, and educational programs to help small businesses succeed. 

At Energize Colorado, it is no secret that our volunteers are the key to our success! This month we recognized our over 70 active volunteers leading 13 different initiatives and projects by hosting two in-person celebration events.  

In a recent article, we shared the story of how the Small Business Resiliency Index (SBRI) was created by a dedicated group of volunteers from Energize Colorado to assess the current state of resiliency, both social and operational, for our small businesses. 

Our partners at The Fax Partnership created the overview below.

It is no secret that small business owners are facing mental health challenges with rising depression, anxiety, and lack of sleep – all while trying to keep their businesses afloat. Bupa Global’s Executive Wellbeing Index, concluded more than three-quarters of business leaders (78%) have experienced poor mental health since the pandemic, exacerbated by pressures on business, the economy and reduced personal freedoms.

To be more resilient, it is more important now than ever for small businesses to digitize many parts of their business. For small business owners, that includes having an online presence through a website, maintaining a customer database, and enabling purchasing through a digital shopping cart. With small businesses currently accounting for 53% percent of cyber attacks, it is crucial for small business owners to protect their business from hackers.

March 1 marks the end of Black History Month, but at Energize Colorado, we believe that our learning, exploration, and celebrations of Black culture should continue all year long.