SBA Regional Administrator says economy’s recovery from pandemic has been impressive – The Durango Herald

The adaptability of Colorado’s tourism industry and businesses is among the reasons for an accelerated recovery

Small Business Administration Aikta Marcoulier, left, stopped in Ignacio and Durango last week to discuss the state of Colorado’s economy at the Southwest Colorado Small Business Conference. (Courtesy of Chris Chavez)

Aikta Marcoulier, Regional Administrator of the Small Business Administration, visited Durango and Ignacio for the Southwest Colorado Small Business Conference last week.

In honor of National Small Business Week, Marcoulier has visited every state in Region VIII, including Colorado, Wyoming, Montana, South Dakota, North Dakota and Utah.

However, Marcoulier has ties to Colorado, having been the director of the Pikes Peak Small Business Development Center in Colorado Springs before being appointed regional administrator.

National Small Business Week was established in 1963 to recognize the contributions of American entrepreneurs and small business owners.

Marcoulier said Colorado’s economic recovery from the COVID-19 pandemic has been impressive. She said over 29,000 new businesses opened in 2020 and 2021, but 20,000 businesses closed.

“We actually welcomed just over 9,000 new businesses in Colorado,” Marcoulier said. “And that’s really good compared to a lot of other states that I cover in the region.”

Many businesses in Durango felt the sting of the 2020 COVID-19 shutdown. A story from the Durango Herald in March of this year shows that 50% of restaurants reported losing 70% to 90% of their business. Retail stores reported losses of 60% and two-thirds of personal service businesses such as salons closed.

However, an influx of businesses downtown this April has given business leaders hope that Durango’s economy is recovering from the troubles of the COVID-era.

With stores like Sutcliffe Vineyards Tasting Room, Roxy’s Tacos and Perbacco Cucina Italiana, downtown is replacing some of the restaurants it lost during the pandemic, like The Palace and Francisco’s Restaurante.

Coulier said Colorado’s tourism industry is one of the reasons its economy is experiencing a faster turnaround than other states in its region.

“Colorado in general has actually attracted a lot of people during the pandemic because of our outdoor recreation opportunities,” Marcoulier said. “It’s definitely a player in the rebound as people continue to go outside and appreciate the world that we have.”

She said many business owners in Durango and across the state have demonstrated a strong grasp of disaster recovery.

She described this as being willing to manage money and resources at a time that seemed uncertain.

“I think Colorado has an extraordinary ecosystem. And I’ve seen a lot of ecosystems, and I really think Colorado is strong,” she said.

Because of the increased difficulty of starting businesses in rural areas, Marcoulier said a key focus of the SBA was to offer as many resources as possible to those areas.

During the pandemic, the SBA launched a community navigator program working with the Southwest Colorado Small Business Development Center and other SBA affiliated partners.

The program provides funding for nonprofits, state and local governments, universities and tribal organizations to partner with SBA at the heart of a hub-and-spoke network.

“We have found that our rural Colorado communities are finding it more difficult to access capital, information such as workshops and counseling. So we’re investing more money and focusing on reaching places like Durango,” Marcoulier said.

In addition to promoting businesses in rural communities, Marcoulier said the SBA is focused on creating equal opportunities for minority and women business owners. She said nearly 50% of small business owners in Colorado are women.

She said the SBA has expanded loan programs for women entrepreneurs.

“They are designed to provide non-traditional, not-for-profit lenders with an opportunity to provide micro-grants to minority-owned women and small businesses,” Marcolier said.

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