Celebrate Small Business: Jojo’s Sriracha

Running a small business is hard in any environment; it’s even more challenging during this unpredictable time with supply chain issues and pandemic recovery. However, by committing to innovation, community and some love, small businesses can shift, thrive, and show resilience. We have to rely on our ability to adjust with available resources, an everchanging labor pool, fluctuations in demand — and, most importantly, we have to rely on each other.

As we celebrate small business — be it the “Move the Needle” grant awards or the Pueblo Food Project (more, below), Small Business Month, ongoing grants to uplift local business, to all that’s in bloom at Colorado Proud markets and more — maybe my journey through Colorado’s food and agricultural industry can help other small business owners and startups navigate changes that support their core values. That’s what keeps us going.

I have been growing a food business for more than 10 years, with our headquarters based in Pueblo for the past five. We make small batch Sriracha from chile peppers grown in Pueblo, a major epicenter of chile agriculture in the U.S. We are a tiny company, even smaller than what’s defined as a “small business,” and yet we continue to find meaningful opportunities to grow and innovate.

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Everything we do revolves around our love for food, community, farmers, and customers.

So every business strategy goes back to this core value.

It impacts our actions and our decision making, guiding us through shifts and unexpected changes in our world.

Along with this core value, here are seven key learnings and strategies that have kept our small business going — and that continue to help us thrive:

1. Share your story. Use your unique point of view, product or service, and core values to get closer to your customers — and remind them why you do what you do. Your story sets you apart from the competition and provides a more specialized experience. I include my personal and professional journey on my website, which adds a human touch to my small business. I’m sharing my store here to inspire other small businesses.

2. Show up for your community and get yourself out there. Meet other small business owners and prospective customers. Pop-up markets, festivals, and expos take place in every community and it’s an ideal way to connect and grow your network while being there for the very people who helped get you where you are today. Also, find a nonprofit that is meaningful to you and give back — another important way to show up for your community.

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3. Support LOCAL. Show your commitment to local small businesses. We network with other small businesses that rely on local resources and people to make local products that support our local economy and, in our case, our Colorado agricultural industry.

That’s good news for all of us. Supporting local also shows customers why it’s important to buy local.

4. Partner with other small businesses. Let’s help each other. Look to collaborate with businesses that reach a similar audience, so your products and services complement nicely — and you strengthen your impact. You wouldn’t think that Sriracha, Breckenridge Bourbon Whiskey Barrels, or Björn’s Colorado Honey go together — but they do, and we do! When small businesses are aligned and able to collaborate, they help each other grow.

5. Ask for help. Sometimes we have to get help in places that are out of our specialty or out of our budget. For example, we know Sriracha, but had to get help managing our social media and website content. We also needed more financial support to grow, so we applied for small-business grants and recently won the Colorado Department of Agriculture’s “Move the Needle” grant, which provided capital for chile processing equipment.

6. Find resources. Organizations like Pueblo Food Project, as well as university programs at CSU and other schools, have opportunities to advance skill sets to be successful business owners. There are also professional associations and member-based organizations, such as Colorado Proud for food businesses, which offer education workshops, webinars, and marketing support.

7. Make a great plan – and know that it will change. More than ever, we have to be able to shift and to innovate. Supply chain issues are becoming the “new normal,” so flexibility should also become your new normal. Whether it’s jars and packaging or distribution, we have to be creative and resourceful with what we need (and don’t need). Remember that your customers are also experiencing personal and professional change, and they can relate to honest business stories about change.

If you think strategically, take advantage of opportunities, connect with your community, and stay true to your core values, you will continue to succeed — even in a tough economy. Let’s keep helping each other, too, so we small businesses can continue to thrive. What’s your story?

Everything we do revolves around our love for food, community, farmers, and customers. So every business strategy goes back to this core value. It impacts our actions and our decision making, guiding us through shifts and unexpected changes in our world.

(photos courtesy of: Colorado Proud and Jojo Collins)

 

Jojo Flying Bed Of ChilesJolene “Jojo” Collins is the Founder and CEO of Jojo’s Sriracha, headquartered in Pueblo, Colorado where her small business has grown from the love of her customers, the community, and the local chili pepper farmers. For questions about this article, Jojo can be reached at [email protected].

 

The SECURE 2.0 Act, and Colorado

In 2019, the passage of the SECURE Act was an important step in bringing the retirement crisis to national attention. The legislation widened access to employee-sponsored retirement plans and highlighted how many of those without access are working for small businesses. In Colorado specifically, a whopping 48% of the workforce is employed by small businesses, according to the U.S. Small Business Administration. While the SECURE Act addressed retirement savings’ challenges from a plan participant perspective, plan-level issues persisted.

The proposed Securing a Strong Retirement Act of 2022, colloquially dubbed SECURE 2.0, builds upon the existing legislation, while including provisions that have the potential to reduce the burden on small businesses of offering a retirement benefit. With as many as 50% of Coloradans working for businesses with 25 or fewer employees are without access to an employee-sponsored plan according to the Georgetown Center for Retirement Initiatives, a comprehensive approach is necessary to begin to bridge this gap.

The SECURE 2.0 Act is bipartisan legislation that has the capacity to expand access to employee-sponsored retirement plans to those who have been traditionally overlooked. Those working for these businesses are often further hindered by the misconception that saving for retirement is restricted to white-collar workers, while small business owners have fewer resources at their disposal to perform the due diligence required to not only start but maintain a compliant and engaging retirement plan offering for their employees.

Offering a retirement plan is a benefit that will only continue to grow in prevalence, as retirement-centric legislation is moving through the federal level as well as many states enacting state-mandated IRAs targeting small business — to include Colorado’s Secure Savings Program.

With the goal of expanding retirement savings accessibility to more individuals, SECURE 2.0 would target businesses with less than 100 employees — where the coverage gap is most prevalent. The legislation would do this through tax credit incentives and relaxing reporting error penalties. While the current retirement legislation affords businesses with 50 or fewer employees a start-up tax credit up to 50% of the cost of establishing and administering the plan for the first three years, the proposed legislation expands this credit to businesses with 100 or fewer employees and increases the tax credit to 100% of these costs — up to $5,000/year.

Recognizing another barrier unique to small businesses, the anticipated legislation would also loosen plan paperwork regulations. Retirement benefit rules and regulations can be overwhelming to navigate even for larger companies with a suite of internal HR professionals. Small businesses lacking as many internal resources may be more exposed to reporting errors and associated fines. In widening access to employee-sponsored plans, loosening penalties for some reporting errors is a meaningful way to alleviate some of the stressors associated with administering a smaller retirement plan.

For plan participants, SECURE 2.0 includes features that would also likely bolster participation within 401(k) plans. From autoenrollment features to proposed changes to RMDS and contribution limits, there is a lot of legislation small business owners need to stay on top of. While SECURE 2.0 is not yet codified, anticipated changes would require plan sponsors and plan providers to ensure that participants have up-to-date information. The participant level changes are not simply limited to those nearing retirement but are also likely to impact those just starting to save if the proposed autoenrollment and escalation features are passed.

Offering a retirement plan is a benefit that will only continue to grow in prevalence, as retirement-centric legislation is moving through the federal level as well as many states enacting state-mandated IRAs targeting small business — to include Colorado’s Secure Savings Program. It is not easy to remain dialed into the changes and for most small business owners, it is unreasonable. Therein lies the value finding a retirement plan provider that truly supports you and your business — having someone who can convey the most important current and future changes in legislation is essential. Customer support from an industry expert truly eases the adoption of a retirement plan and helps evade challenges with non-compliance, misinformation, or missed savings opportunities.

 

Carrie Della Flora manages the Client Experience team and is responsible for providing authentic client service and support to Shelton Capital Management’s 3(38) Fiduciary clients. Della Flora joined Shelton in 2018 with 16 years of industry experience, having recently worked at Matrix Financial Solutions.

Cherry Creek North is a one-stop-shop for holiday shopping

2020 Cherry Creek Holiday Market Credit Cherry Creek North
Photos courtesy of Cherry Creek North

After a successful inaugural event in 2020, the second annual Cherry Creek Holiday Market takes place daily in Cherry Creek North on Fillmore St. between 1st and 2nd Avenue from November 18 through December 24, 2021.

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With 30 local makers, designers and creators, the market provides shoppers an even wider array of premium options and unique gifts all nestled within the heart of the Cherry Creek North, an area known for its high concentration of locally owned boutiques and national brands.

The House Of Stewart At The 2020 Cherry Creek Holiday Market Credit Cherry Creek North
The House Of Stewart at the 2020 Cherry Creek Holiday Market

This free outdoor event, produced by Fetch Concepts, also features a schedule of regular live music by local acts, a highly decorated holiday atmosphere including shipping containers made to look like giant holiday gift boxes, and full bar of festive drinks from Colorado companies The Family Jones, atōst and Crooked Stave.

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The vendor line-up provides a variety of unique gift options including warm weather apparel and accessories from brands like WUAMAN and Ushood; ceramic goods by Ceramiche Piscitello; Mistura Woodcoholics’ handcrafted wooden watches; good reads from Usborne Books & More and even a baby fire pit.

David Lawrence At The 2020 Cherry Creek Holiday Market Credit Cherry Creek North
David Lawrence at the 2020 Cherry Creek Holiday Market

Attendees will also encounter a selection of International food goods, including authentic German pretzels and sourdough breads by XLVII’s Bakery; Tunisian-style hummus from Yummy Yummy Products; European Cheeses from La Montagne Des Saveurs; The House of Stewart’s Scottish caramels; and Bibamba’s single origin chocolate made from Cameroon-grown cacao.

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“Our vendors are the heart and soul of our market,” said Blake Adams, owner of Fetch Concepts. “We received nearly 100 applications this year and curated our list to offer the best variety of high quality products from people who truly care about what they’re making.”

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The market runs seven days a week, 11 a.m. to 7 p.m. Sunday through Wednesday and 11 a.m. to 9 p.m. Thursday through Saturday (11 a.m. to 2 p.m. Thanksgiving Day and Christmas Eve).

For more information and a full list of vendors, visit www.CherryCreekHolidayMarket.com.

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The event is part of the second annual Cherry Creek North Winter Wanderland–a collection of free holiday festivities throughout the neighborhood–beginning November 18 and running through December 31, 2021.

During this time, the 16-block district will be decorated with more than a half million twinkling lights wrapping 600+ trees from trunk to tip. Visitors can stroll the neighborhood, discover an interactive art installation, register to win a $1,000 gift card, enjoy free treats and entertainment during Saturday Night Lights, and more.

How to support small businesses this season

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On November 27, 2021, we celebrate Small Business Saturday–a time when shoppers are encouraged to patronize small businesses to do their holiday shopping.

Despite being “small,” many of these local businesses work hard to improve the quality of our communities and make up the backbone of our economies.

Today, Colorado is home to more than 653,000 small businesses, accounting for roughly 99.5% of all statewide businesses.

As a small business owner myself, I recognize the value in supporting small businesses and encourage Coloradans to make contributions to our small business community both today, and all year long.

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My journey as an entrepreneur began 20 years ago when my fascination with insects grew into a small business. I opened Bee Squared Apiaries, a beekeeping business which has grown from two bee colonies to more than 125 hives today and spread throughout Colorado’s Front Range. Not only does my company maintain bee colonies, but we also sell locally-sourced honey, handmade beeswax candles and other bee products.

Colorado is currently home to a great amount of bee diversity, but the bees need our help. More than a third of the world’s food crops rely on bees and other pollinators, but their populations are dwindling rapidly.

That’s why we’re proud at Bee Squared Apiaries to support thriving colonies and use our profits to continue working on pollinator issues. After all, without bees, we wouldn’t have our world famous Colorado Rocky Ford melons.

We’re incredibly thankful to Coloradans for supporting our efforts to save the bees.

We’ve seen great support from customers statewide on our social media pages, and have been able to grow our online community on Facebook to people who share our conservation mission.

We also recently launched a Facebook ‘Shop’ so customers can purchase our products directly on social media, and we’re excited for it to become a major tool in our growth as a business and expansion of our mission.

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Like many small businesses, we face a new set of challenges during COVID-19 including supply chain disruption and soaring prices for inputs. It hasn’t been easy, but we’ve been able to continue operating in large part due to the support we’ve received from the local community.

During Small Business Saturday, we encourage people to take a walk down Main Street and get to know their local small businesses and the great impact they can make for the local community. And, if you can’t make it in the doors, supporting local businesses online through follows, shares, reviews, and more is a great way to make a difference right from home.

Beth Conrey is the owner of and founder of Bee Squared Apiaries. To learn more, visit their website for information on protecting pollinators. Bee Squared Apiaries has also teamed up with some great local nonprofit organizations, who work tirelessly to continue protecting pollinators.  Head over to People and Pollinators Action Network and Pollinator Stewardship Council to learn more.