Colorado small business statistics
Colorado logged 143,807 business applications in 2025, up 10.0% from 2024 and 66.3% from the pre-pandemic 2019 baseline. Professional services led both private-sector establishment and job growth since 2019.
Business applications, employment, lending, tax, bankruptcy, and contracting records cover different parts of Colorado's business economy.
At a glance
Colorado logged 143,807 business applications in 2025, up 10.0% from 2024 and 66.3% from the pre-pandemic 2019 baseline.
Through May 2026, total applications were up 19.3% from the same months in 2025; high-propensity applications were up 0.4%.
Denver filed 30,899 applications in 2025, the largest county total in Colorado. Denver also led the high-volume counties after adjusting for population.
Professional services led both private-sector establishment and job growth since 2019.
SBA 7(a) and 504 approvals to Colorado businesses reached $1.4B in FY2025 across 2,408 loans, led by construction, accommodation and food services, health care and social assistance, retail trade, and other services.
Business bankruptcy cases tied to Colorado counties rose from 534 to 581 in the 12-month period ending March 31, 2026.
New business formation
Colorado business applications reached 143,807 in 2025, up 10.0% from 2024. Through May 2026, applications were 19.3% higher than in the same months of 2025.
Why compare with 2019
2019 is the last full year before the pandemic. The shutdown period and the business churn that followed changed EIN filing patterns. High-propensity applications totaled 19,112 through May 2026, up 0.4% from Jan-May 2025. Projected business formations within eight quarters rose 32.0% over the same period.
Census BFS counts applications for employer identification numbers. Applications are early filings; confirmed operating-business counts arrive later.
Where applications are concentrated
Denver is the largest application market by raw volume. Among the high-volume counties shown below, Denver stands out most after adjusting for population.
Applications relative to population
Each rate divides 2025 Census BFS applications by the county’s Census Vintage 2025 resident population estimate. Denver leads both the raw filing count and the population-adjusted rate among the high-volume counties shown below.
Census BFS counts EIN applications. The denominator is 2025 resident population, which adjusts the filing count for scale. Startup conversion requires a business-based denominator.
| County | 2025 applications | Change vs 2024 | Change vs 2019 |
|---|---|---|---|
| Denver | 30,899 | +28.7% | +96.0% |
| Arapahoe | 17,176 | +4.1% | +59.2% |
| El Paso | 16,529 | +5.4% | +72.2% |
| Jefferson | 12,541 | +9.9% | +53.8% |
| Adams | 10,612 | +5.9% | +56.4% |
| Boulder | 9,012 | -15.1% | +50.9% |
| Douglas | 7,920 | +5.0% | +57.8% |
| Larimer | 6,980 | +11.0% | +41.5% |
| Weld | 6,381 | +8.8% | +62.9% |
| Pueblo | 2,932 | +31.2% | +117.3% |
| Mesa | 2,745 | +8.7% | +54.0% |
| Garfield | 1,673 | +13.2% | +71.6% |
Jobs, establishments, and wages
In 2024, Colorado had 246,252 private-sector establishments and 2,436,000 private-sector jobs. The establishment count was 18.6% higher than in 2019, and employment was 5.5% higher.
Professional services led establishment growth.
Professional services added 15,932 establishments from 2019 to 2024. Professional services added 55,602 jobs over the same period.
BLS QCEW counts employer establishments and jobs, along with wages, payroll, and local industry structure.
| Industry | 2024 establishments | Change vs 2019 | 2024 jobs | Change vs 2019 |
|---|---|---|---|---|
| Professional services | 55,432 | +15,932 (+40.3%) | 291,053 | +55,602 (+23.6%) |
| Health care and social assistance | 23,680 | +5,173 (+28.0%) | 331,037 | +27,174 (+8.9%) |
| Construction | 21,702 | +1,272 (+6.2%) | 187,210 | +8,330 (+4.7%) |
| Other services | 19,150 | +2,142 (+12.6%) | 91,433 | +6,862 (+8.1%) |
| Accommodation and food services | 15,026 | +1,102 (+7.9%) | 288,906 | +2,941 (+1.0%) |
| Real estate and rental | 14,700 | +1,994 (+15.7%) | 57,034 | +2,511 (+4.6%) |
| Wholesale trade | 14,603 | +918 (+6.7%) | 116,946 | +6,690 (+6.1%) |
| Finance and insurance | 13,955 | +2,633 (+23.3%) | 112,002 | -747 (-0.7%) |
| Administrative services | 13,680 | +1,589 (+13.1%) | 153,426 | -8,418 (-5.2%) |
| Information | 6,101 | +1,771 (+40.9%) | 73,754 | -2,538 (-3.3%) |
SBA lending
SBA 7(a) and 504 approvals to Colorado businesses totaled $1.4B in FY2025 across 2,408 loans. The SBA files report 24,554 jobs supported for those approvals.
Construction drew the most SBA capital.
Construction drew $232.1M in FY2025 SBA approvals. Accommodation and food services, health care and social assistance, retail trade, and other services received the next-largest approval totals.
SBA fiscal year 2025 ran from Oct. 1, 2024, through Sept. 30, 2025. The published files were current as of April 28, 2026.
| Sector | FY2025 loans | FY2025 approvals | SBA jobs supported |
|---|---|---|---|
| Construction | 414 | $232.1M | 3,734 |
| Accommodation and food services | 291 | $192.3M | 4,113 |
| Health care and social assistance | 224 | $172.4M | 3,875 |
| Retail trade | 255 | $158.1M | 1,496 |
| Other services | 266 | $129.3M | 2,365 |
| Professional services | 283 | $114.3M | 2,055 |
| Manufacturing | 154 | $101.2M | 2,055 |
| Administrative services | 119 | $52.5M | 1,388 |
| Arts and entertainment | 106 | $50.8M | 1,009 |
| Wholesale trade | 57 | $37.7M | 534 |
| County | FY2025 loans | FY2025 approvals | SBA jobs supported |
|---|---|---|---|
| Denver | 360 | $189.9M | 3,666 |
| Arapahoe | 312 | $182.3M | 3,440 |
| Jefferson | 262 | $148.1M | 2,268 |
| El Paso | 289 | $141.2M | 3,049 |
| Adams | 192 | $117.6M | 2,139 |
| Larimer | 139 | $101.2M | 1,578 |
| Douglas | 193 | $97.1M | 1,335 |
| Boulder | 163 | $90.1M | 1,807 |
| Weld | 90 | $63.9M | 1,014 |
| Mesa | 53 | $32.3M | 1,049 |
The unincorporated business economy
IRS SOI data show 634,415 Colorado Schedules C and partnership returns/forms in Tax Year 2023. Those businesses reported $135.4B in gross receipts and $19.2B in the combined income/profit measure.
Sole proprietors account for most returns.
Colorado had 542,280 nonfarm sole-proprietor Schedules C in Tax Year 2023, with $30.7B in gross receipts and $7.6B in net profit.
Partnerships reported more gross receipts.
Colorado partnerships filed 92,135 Forms 1065 in Tax Year 2023 and reported $104.7B in gross receipts.
| County | Returns/forms | Gross receipts | Combined income/profit metric |
|---|---|---|---|
| Denver | 90,230 | $41.1B | $8.3B |
| Arapahoe | 75,394 | $20.5B | $2.1B |
| El Paso | 67,731 | $8.6B | $938.2M |
| Jefferson | 62,899 | $10.5B | $1.7B |
| Adams | 47,926 | $6.9B | $783.9M |
| Boulder | 44,202 | $9.1B | $314.9M |
| Douglas | 42,229 | $6.3B | $1.2B |
| Larimer | 40,327 | $6.8B | $510.2M |
| Weld | 32,395 | $5.8B | $547.3M |
| Mesa | 14,469 | $1.5B | $210.8M |
Business stress signals
Business bankruptcy cases tied to Colorado counties rose from 534 to 581 in the 12 months ending March 31, 2026. Chapter 11 accounted for 174 cases.
Why county totals can jump
Denver had the largest business-bankruptcy count in the latest F-5A table. Related business cases filed in the same venue can create a sudden change in one county’s total.
Definition: U.S. Courts classifies debt as business when the debtor is a corporation or partnership, or when business-related debt predominates.
| County | Business cases, 12 months ending Mar. 31, 2026 | Change vs prior 12 months | Chapter 11 cases | All bankruptcy cases |
|---|---|---|---|---|
| Denver | 130 | +50 | 68 | 1,162 |
| Jefferson | 69 | +16 | 9 | 853 |
| Douglas | 57 | +12 | 12 | 592 |
| El Paso | 54 | +3 | 18 | 1,256 |
| Arapahoe | 53 | -39 | 13 | 1,136 |
| Weld | 39 | -3 | 13 | 742 |
| Adams | 38 | +2 | 6 | 1,096 |
| Larimer | 32 | +0 | 6 | 509 |
| Boulder | 28 | -7 | 5 | 318 |
| Pueblo | 12 | +7 | 3 | 351 |
National credit backdrop
The 2026 Fed Small Business Credit Survey appendix reported that 94% of U.S. employer firms faced a financial challenge in 2025, 38% applied for financing, and 52% of applicants were fully approved.
Federal contract demand
USAspending reports $18.7B in FY2025 federal procurement obligations to recipients located in Colorado. USAspending assigns these obligations to the recipient’s state and includes award type codes A, B, C, and D.
| NAICS | Federal procurement category | FY2025 obligations |
|---|---|---|
| 541715 | Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) | $2.0B |
| 561210 | Facilities Support Services | $1.9B |
| 336411 | Aircraft Manufacturing | $1.4B |
| 541330 | Engineering Services | $1.4B |
| 336414 | Guided Missile and Space Vehicle Manufacturing | $1.3B |
| 541519 | Other Computer Related Services | $1.2B |
| 541711 | Research and Development in Biotechnology | $895.1M |
| 541990 | All Other Professional, Scientific, and Technical Services | $754.8M |
| 236220 | Commercial and Institutional Building Construction | $654.9M |
| 481212 | Nonscheduled Chartered Freight Air Transportation | $636.9M |
How the numbers fit together
Colorado's business applications rose 10.0% in 2025. The employer base has expanded since 2019, with establishments up 18.6% and employment up 5.5%.
Sources and definitions
Each dataset updates on its own schedule. Annual figures use the latest complete year, and partial-year comparisons are labeled beside the relevant number.
- Census BFS monthly CSV
Updated June 10, 2026, 14:00 GMT - Census BFS county workbook
Updated June 10, 2026, 14:22 GMT - Census county population estimates
Vintage 2025 county resident population estimates - BLS QCEW annual area files
2019 and 2024 annual API files - SBA 7(a)/504 FOIA package
Updated April 28, 2026, 14:42 GMT - IRS SOI Tax Year 2023 unincorporated tables
Tax Year 2023 county combined, sole proprietor state, and partnership state tables - U.S. Courts F-5A bankruptcy XLSX
12 months ending March 31, 2026 - Fed SBCS Main Street Metrics appendix
Last updated March 23, 2026 - USAspending API
FY2025 procurement obligations
Alex Morgan turns Census, BLS, SBA, IRS, court, Federal Reserve, and USAspending records into state-by-state business comparisons.