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The Ultimate Guide on How to Create a Performa as a Small Business Owner
As a small business owner, you know that managing your finances is critical to the success of your business. One essential financial tool you need to have in your arsenal is a performa. A performa is a financial statement that estimates the potential income and expenses for a specific period. It’s a valuable tool that …
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Understanding Different Types of Business Structures
Starting a business can be daunting, and one of the first decisions you’ll need to make is choosing the right business structure. The business structure determines how your business is organized, taxed, and managed. Each type of business structure has its pros and cons, so before you make your decision, it’s important to understand what …
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5 Effective Ways for Small Business Owners to Increase Their Credit Score
As a small business owner, your credit score can determine your ability to secure financing, lease equipment, receive favorable payment terms from suppliers, or even get approved for a business credit card. A poor credit score can also hurt your personal finances and creditworthiness, which can have a ripple effect on your business. Fortunately, there …
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How to Put Together a Balance Sheet for Your Small Business
A balance sheet is one of the fundamental financial statements that every business should have, no matter how small. It provides an overview of the company’s assets, liabilities, and equity at a specific point in time. A balance sheet helps you keep track of the financial health of your business and makes it easier to …
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A Comprehensive Guide on How to Create a Business Plan for Your Small Business
Starting a business is never an easy task. It takes determination, dedication, and hard work to succeed. However, the right business plan can help you get organized, attract investors, and achieve growth. A business plan serves as a roadmap to guide you towards your goals and objectives. In this blog post, we will provide you …
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How to Create a Profit and Loss Statement for Your Small Business
Running a small business can be challenging, especially when it comes to managing finances. Understanding your business’s financial performance is the key to making informed business decisions. One of the most crucial financial statements is the profit and loss statement (P&L), also known as the income statement. The P&L statement shows how much your business …
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A letter from Energize Colorado CEO, Bonnie Watson
Dear Energize Colorado, Energize Colorado has made an incredible impact on the lives of countless Coloradans. From guiding us through the challenges of the pandemic to providing invaluable resources for entrepreneurs, and now, as an impact lender, Energize Colorado has an exciting future. I am honored by the trust placed in me by the Board …
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Women’s Access to Capital in Colorado: What to Know and Where to Access Funding
Co-authored by: Anni Proctor (BIC and Go Code Colorado Program Manager, Colorado Department of State) and Kanitha Heng Snow (Director of Partnerships and Programs, Energize Colorado) Colorado is a prime state for women in entrepreneurship. We embody a growing infrastructure that supports women entrepreneurs with the assistance from government, nonprofit, community-based organizations, and ecosystem leaders. …
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Celebrating Volunteers
Melissa Akaka “Volunteering with Energize Colorado (EC) has been an incredible experience. I’m continually impressed by the commitment of the organization and its volunteers to sustaining Colorado’s economy through community support and inclusive practices focused on the needs of micro-enterprizes and small businesses. The research projects I’ve worked on provide important insights into the experiences …
Partner Organizations Who are Advocating for Women in Business
Pictured: Colorado Women’s Chamber of Commerce There’s no denying that the business world is a competitive landscape. As a business owner, you may find yourself struggling to stay afloat in a sea of competitors. The good news is that you don’t have to go it alone. There are several organizations dedicated to helping women entrepreneurs …
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Celebrating Black History Month
In honor of Black History month, Energize Colorado is dedicating this post to Black entrepreneurs and partners working toward economic development within the Black community. Our ecosystem at Energize Colorado provides a credible network of partners, businesses, and volunteers offering business advice, funding, and support. Check out the businesses and organizations below! Partners Supporting Black …
Huntington Bank’s Commitment to Colorado’s Small Business Community
At Energize Colorado, we know that our goal to build a diverse and resilient small business ecosystem can not be achieved alone. We rely on like-minded partners and industry leaders to propel the small business ecosystem in Colorado forward. Huntington Bank believes in empowering small businesses and investing in the small business community. In November, …
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Courageous Imagination – Bringing Scientists, Creatives and Business Leaders to the same table
Almost every corporate culture statement or job posting includes some combination of the words creativity, wellbeing and collaboration. It’s become a foundation of the American workplace and our society as a whole. But what if we had the courage to take the collaboration one step further. Instead of innovating and working together with just your …
Digital Readiness for Colorado’s Smallest Businesses
With our mission to help Colorado’s smallest businesses become more resilient, Energize Colorado identified digital readiness as a necessary component in building a resilient business. Digital readiness is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements. …
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On Partnerships and The Energize Community Program
When our Energize Colorado team came together in February 2022 to design the pilot for our Energize Community Program (ECP), we had two north stars: 1) to be community first and 2) to be partner inclusive. To be community first, we focused on strengthening the connections between small business owners as well as their broader …
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Through CIBIC Students Get Experience, And Energize Colorado Gets Solutions
Marketing graduate student helps Energize Colorado with data visualization project By Kristal Griffith The People Lauren Bell got her bachelor’s degree in California in studio arts before pursuing a Master’s in Marketing at the Daniels College of Business. She wanted to gain quantitative experience, and see how she could better use her creative skills in business. In her …
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Chamba: Connecting the workforce with Small Business Jobs.
In honor of Hispanic Heritage Month, we wanted to connect with Hispanic Leaders within the Energize Colorado Community. We met with Diego Montemayor, the founder and CEO of Chamba. Chamba is the first bilingual app where jobseekers can apply to restaurant jobs without any of the language, accessibility, and cultural barriers. How did you hear …
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Supporting Solopreneurs In the Wellness Industry
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 …
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August is Black Business Month
In Colorado, we are always proud to be the fastest growing state for Black Immigrants, but especially during Black Business Month. DID YOU KNOW? Colorado has a long, rich history of Black-owned businesses. This history is best exhibited by Denver’s Five Points community. Five Points became a central point for Black Americans moving to Denver …
Two Events Aimed to Bridge the Gap between Small Businesses and Local Resources
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 …
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Celebrating the Leaders Who Make Our Work Possible
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. So far in 2022, our volunteers have worked collaboratively with partners from Colorado’s ecosystem to: Host four workshops …
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Measuring the Factors that Determine Resilience Capital
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. Now, we are taking a deeper look into the survey and its findings. …
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SMALL BUSINESS LOAN OPTIONS
Our partners at The Fax Partnership created the overview below. The Fax Partnership’s mission is to strengthen and support East Colfax residents and small businesses while promoting equity and advocating for community-serving development. The Fax understands how important it is for our businesses to choose the right financial partner. This overview includes comprehensive information from …
Building the Foundation for a Long-Standing Small Business Ecosystem
Building the Foundation for a Long-Standing Small Business Ecosystem The struggles and setbacks of 2020 forced Colorado to acknowledge that there were long-standing gaps in the small business economy. Knowing that 95% of jobs in Colorado lie within the small business ecosystem (fewer than 25 employees) we, at Energize Colorado, saw a need to address …
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Capital Absorption Task Force
On April 29th, 2022, Energize Colorado convened a group of leaders from Colorado’s small business ecosystem. Including nonprofit lenders, technical assistance providers, philanthropic organizations, and state leadership, this group represented the diversity of Colorado’s small business ecosystem. Kicking off with Colorado Office of Economic Development and International Trade Office Executive Director Pat Meyers, the discussion …
Applying for a Loan 101
Get step-by-step support on the documents you need to successfully apply for a loan. We understand that applying for loans can be overwhelming – especially for small business owners who already handle every aspect of a business. That’s why we’ve put together step-by-step instructions on the documents you need to successfully apply for a loan. …
New Webinar Series: Mental Health is key to Success
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 …
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Partners in the Digital World: Announcing a New Collaboration with the Cyber Readiness Institute and RMMFI
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 …
Celebrating Black Entrepreneurship All Year Long
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. Black entrepreneurs have made an indelible impact on the small business landscape across our country. Faced with the most extreme barriers to market entry, their resilience …
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Energize Colorado Fosters Innovation in Colorado’s Child Care Community
Child Care in Colorado is in crisis – but ten providers are innovating a brighter future. In December, ten businesses from across the state completed Energize Colorado’s first Child Care Innovation Intensive. The intensive provided a rare opportunity for child care providers to explore, develop and test new ideas to radically shift the way their childcare …
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The New Builders
A couple of weeks ago, Aiysha Johnson of GBE Labs asked us a great question in a podcast Q&A about our book, The New Builders.“Why,” she said, “did you put women and people of color together into a group when you created The New Builders?” It was a perceptive question. One of the underlying constructs …
Child Care Mentorship Program
DENVER, AUGUST 16, 2021 – Energize Colorado is pleased to announce the launch of our child care mentor program to provide finance, marketing, and other general business support to Colorado child care providers. Colorado child care providers have struggled through an extremely difficult environment, which was exacerbated by the COVID-19 pandemic. “This is an industry …