5 Tips for Finding and Buying a Profitable Business It’s no secret that starting a new business is hard work, and many aspiring business owners can face challenges throughout the process. According to the U.S. Bureau of Labor Statistics (BLS), about 30% of new businesses fail within the first two years, 50% within the first five years, and 70% within the first 10 years. … Read More
6 Commercial Loan Options to Grow Your Small Business Small businesses often need access to capital, whether it’s to seize opportunities or navigate unforeseen financial hurdles. According to a CB Insights study, it’s estimated that 29% of small businesses fail because they run out of capital. Other reasons businesses fail can range from an inexperienced team, to being outcompeted, to having poor product offerings… Read More
Front Range Equine Performance Raises the Bar with Business Expansion From starting out in a Chevy Tahoe in Estes Park to running a full-service equestrian facility servicing northern Colorado and beyond, Front Range Equine Performance and Rehabilitation is the epitome of business success. With a little over seven years under their belt, its grown from a single-person operation to nine employees, working across veterinarian and… Read More
The Coolest Thing Made: Check Out Colorado’s Award-Winning Manufacturers FirstBank has always been a passionate supporter and promoter of local businesses. This is why we’re especially excited to partner with The Colorado Chamber of Commerce (CCOC) on their Coolest Thing Made contest, which celebrates the state’s manufacturing industry. Fun Fact: Over 4,900 manufacturing firms contribute more than $28 billion to Colorado’s economy and employ nearly 150,000… Read More
5 Things Influencers Get Wrong When It Comes to Business Advice A recent report, which surveyed 2,000 Gen Zers between 18 and 26 in the U.S., found that 70 percent were using TikTok to seek career and business advice. This video-sharing platform began as a forum for sharing dance moves and acapella performances but has now evolved into a hub for financial and business guidance. However, like… Read More
Protecting Colorado: Vulcan Fire Reveals the Secret to Building and Expanding Business With a little over four years in business, Vulcan Fire, a Colorado-based fire protection company, prides itself on the foundation of transparency and expertise. In fact, over 90% of the company’s employees have nearly 20 years of experience, including owners, CJ Simonds and Todd Wagner. The company also has an impressive growth story. They went… Read More
5 Ways Owner-Occupied Real Estate Can Improve Your Cash Flow It’s no secret purchasing property is a time-tested strategy to help build wealth. Owning commercial real estate provides tax benefits, financial advantages, and other perks buyers can use to make a profit. Here’s what you need to know about Owner-Occupied Commercial Real Estate (OOCRE) and how buyers can use this tool to improve cash flow.… Read More
4 Ways Businesses Can Use AI to Grow Their Business Despite being a relatively new technology, Artificial Intelligence (AI) has already started to transform business workflows and staffing models. According to the IBM Global AI Adoption Index (2022), 77% of businesses have already started exploring the benefits of AI in their processes. Of those using AI, about 30% of companies report significant time savings from… Read More
6 Ways Businesses Can Help Safeguard Their Business and Their Bottom Line According to the Association of Certified Fraud Examiners reports, U.S. businesses will lose an average of 5% of their gross revenues to fraud. As fraud schemes become increasingly intricate, any company, regardless of size or industry, can fall victim. To combat the ever-evolving list of scams, here are six of the most valuable tactics to… Read More
5 Ways to Help Your Business Thrive in an Economic Downturn Every week, economists are either predicting a full-blown recession or speculating that we may skirt around one. But with factors like high-interest rates, increased unaffordability, rising oil and gas prices, resumed student debt repayments, and a looming government shutdown, one thing is evident: consumers and businesses will have a lot less dispensable cash. A Harvard… Read More