Cultivate ‘high-impact’ firms, not startups
Unfortunately, many of the resources that can help us retain, grow and recruit companies are being funneled specifically into startups. While these businesses are sexy and attention-getting, they present tremendous risk and suffer enormous failure rates.
We must ask if this strategy provides an adequate return on our investment, or whether it simply perpetuates our historic boom-bust cycle.
It’s important to look at what kind of companies thrive in Colorado and can be considered high-impact — companies that experience high revenue and employment growth. It takes much less effort to grow and retain Colorado’s existing high-impact businesses than cultivating startups or attracting companies to relocate to Colorado, for that matter.
Cultivating these high-impact firms, primarily small businesses with fewer than 20
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