Business Climate

Colorado’s Economy is on the Right Track/Wrong Track

2023: 40% Right Track / 60% Wrong Track
2022: 46% Right Track / 53% Wrong Track

Source: Colorado Chamber Business Leader Survey

Regulatory Burdens as Top Issue for Businesses

2023: 49%
2022: 26%

Source: Colorado Chamber Business Leader Survey

GDP

2023: $529 Billion
2022: $484 Billion
2021: $436 Billion

Source: U.S. Bureau of Economic Analysis

GDP Per Capita

2023: $80,068
2022: $74,167
2021: $70,715

Source: U.S. Bureau of Economic Analysis

Percent Small Business

2023: 99.5%
2022: 99.5%
2021: 99.5%

Source: U.S. Small Business Administration

New Business Startups

2023: 126,406
2022: 116,131
2021: 111,871

Source: U.S. Census

Black-Owned Businesses

2023: 20
2022: 20
2021: 37

Source: Merchant Maverick Data Report

Hispanic-Owned Businesses

2023: 12.2%
2022: 11.6%
2021: 11.1%

Source: U.S. Small Business Administration

Women-Owned Business

2023: 44.8%
2022: 44.7%
2021: 44.5%

Source: U.S. Small Business Administration

Veteran-Owned Businesses

2023: 7.1%
2022: 7.2%
2021: 7.4%

Source: U.S. Small Business Administration

Colorado Scorecard

Business Sentiment

Colorado’s Economy

40%

Right Track

60%

Wrong Track

Regulatory Burdens as Top Issue for Business

49%

GDP

$529

Billion

GDP Per Capita

$80,068

Small & Emerging Businesses

Percent Small Business

99.5%

New Business Startups

126,406

Minority Owned Businesses

Black-Owned Businesses Ranking

20th

Hispanic-Owned Businesses

12.2%

Women-Owned Businesses

44.8%

Veteran-Owned Businesses

7.1%

Colorado Scorecard