Denver Ranks as One of the Best Places for US Tech Startups

Employees talking about their digital strategyFor those who want to start their own business, particularly in the tech sector, Denver serves as one of the best places in the U.S. to do so, according to an Ewing Marion Kauffman Foundation report.

The 2017 Kaufman Index growth entrepreneurship report listed the city as the top 13th nationwide based on growth entrepreneurship. However, the jobless rate in Colorado somehow affected Denver’s position as a good place for tech startups.

Jobless Rate

The unemployment rate in September slightly increased to 2.5% from 2.4% in August, following the addition of only 4,000 non-farm jobs to a total of 2, 656, 200 employed people in the state. In the private sector, jobs increased to 8,100, while the government workforce declined by 4,100.

Despite being one of the best places for tech startups, Denver companies have been slow to add jobs or expand their operations compared to other metro areas in the U.S., according to the Kaufman Index. It showed that other cities ranked higher than Denver in terms of “scale-ups,” which means startups that have grown to more than 50 workers before their 10th anniversary.

Digital Strategy

Any startup company requires a cost-efficient strategy that allows them to convert prospects into loyal customers. Pay-per-click (PPC) advertising serves as one option. In Denver, PPC management will allow you get a head start to expand your digital presence, unlike an organic search engine optimization (SEO) strategy that will require waiting until you see the results.

An SEO strategy will only work for you if you are patient enough to wait for long-term results. On the other hand, PPC potentially lets you increase traffic to your website and generate new leads in a shorter amount of time.

Conclusion

Denver provides a good place for aspiring business owners, despite certain challenges. Startup companies should consider a digital approach in expanding their brand to help with their goal of increasing their workforce.