Small Business Administration Regional Administrator Aikta Marcoulier visited Durango and Ignacio last week for the Southwest Colorado Small Business Conference.
In honor of National Small Business week, Marcoulier has been visiting all of the states in Region VIII, which includes Colorado, Wyoming, Montana, South Dakota, North Dakota and Utah.
However, Marcoulier has ties to Colorado as she was the director of the Pikes Peak Small Business Development Center in Colorado Springs prior to being name Regional Administrator.
National Small Business week started in 1963 to recognize the contributions of America’s entrepreneurs and small business owners.
Marcoulier said Colorado’s economic recovery from the COVID-19 pandemic has been impressive. She said during 2020 and 2021, over 29,000 new businesses opened but 20,000 businesses closed.
“We actually netted in the positive a little over 9,000 new businesses in Colorado,” Marcoulier said. “And that's really good in comparison to many of the other states I cover in the region.”
Many Durango businesses felt the sting of the COVID-19 shutdown in 2020. A Durango Herald story from March of that year indicates that 50% of restaurants reported losing 70% to 90% of their business. Retail shops reported losses of 60%, and two-thirds of personal service businesses like salons closed.
However, an influx downtown businesses this April have given business officials hope that Durango’s economy is recovering from its COVID-era troubles.
With businesses like Sutcliffe Vineyards Tasting Room, Roxy’s Tacos and Perbacco Cucina Italiana, downtown is replacing some of the restaurants it lost during the pandemic like The Palace and Francisco’s Restaurante.
Coulier said Colorado’s tourism industry is among the reasons why its economy is seeing a quicker turnaround than other states in her region.
“Colorado in general, actually attracted a lot of people during the pandemic because of our outdoor rec opportunities,” Marcoulier said. “It's definitely a player in the rebound, as people continue to go outside and appreciate the world that we have.”
She said many business owners in Durango and throughout the state showed a great sense of disaster recovery.
She described this as being prepared to manage money and resources during a period that seemed uncertain.
“I think Colorado has an exceptional ecosystem. And I've seen a lot of ecosystems, and I truly believe Colorado is strong,” she said.
However, because of the elevated difficulty of starting businesses in rural areas, Marcoulier said it has been a primary focus for the SBA to offer as many possible resources to these areas.
During the pandemic, the SBA launched a community navigator program that works with the Southwest Colorado Small Business Development Center and other affiliated partners of the SBA.
The program offers funding to nonprofits, state and local governments, universities, and tribal entities to partner with SBA at the center of a hub and spoke network.
“We have identified that for our rural communities in Colorado that it's harder to gain access to capital, information like workshops and consulting. So that's why we're putting more money and focus on making sure we're getting out to places like Durango,” Marcoulier said.
In addition to benefiting businesses in rural communities, Marcoulier said the SBA has been focused on creating equity for minority and women business owners. She said that close to 50% of small business owners in Colorado are women.
She said the SBA has expanded lending programs for female business owners.
“They’re to provide nontraditional, nonprofit lenders the opportunity to provide micro grants for women and minority-owned small businesses,” Marcolier said.
tbrown@durangoherald.com
