Your new Chamber Board held their first meeting of the year yesterday. Part of our agenda was dedicated to an open conversation about trends, themes and economic forecasts by these valued community leaders. Not surprisingly, the observations ran from optimist to gloomy.
As I reflect on the conversation, I am struck by the theme of small businesses at risk. Many of our retail and hospitality businesses have survived the last three years to wake up to sizeable challenges that are forcing many of our entrepreneurial friends to consider closing or changing their business model very dramatically.
Observations around the table centered on the continued rise in the cost of doing business. Wildly increasing costs of labor, insurance, property tax, space, regulation and goods are real for all business owners and especially for our smaller businesses.
While magic solutions were not quick to be found, I appreciated the thoughtfulness of the Board in identifying a role for the Chamber in this transforming environment. In 2024, your Chamber will continue to work to move the dial on advocating for and inspiring the continued growth of our economy in northern Colorado and we will remain a leader in creating a workforce ecosystem that helps you create and find the talent you need to grow and sustain your business. We will also be a convener driving regional roadway conversation and you will see us continue to advocate for a positive business climate.
I invite you to join the conversation, share your thoughts and observations and join us in advocating for solutions that bring opportunity to all.