Navigating the Colorado small business market
Things can get tricky
Small business is growing by leaps and bounds in Colorado, but that rapid expansion also means higher startup costs for those seeking to enter the market, says Dominic Karaba, Executive Vice President of Business Banking for UMB Bank.
"It is really taking off right now," he says. "We've got construction going on all over the place, if you look at the south metro area, the Cherry Creek area, up and down Colorado Boulevard, from redevelopment to new development. We've also seen price per square foot go up, both in rents as well as in the cost to build."
That's very different than some other markets across the nation, and can catch entrepreneurs off-guard, Karaba says.
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