Business is booming in Colorado: More than 49,000 new businesses opened in 2022

COLORADO SPRINGS, Colo. (KRDO)--Despite an uncertain economy, business is booming in Colorado, with 49,000 new businesses opening in 2022.

El Paso County data shows a 20% increase in new businesses opening since the pandemic. From 2019 to 2022, El Paso County has seen around 4,000 new businesses.

In 2019, there were more than 20,000 businesses in El Paso County. Fast forward to the end of 2022 and there are more than 24,000 small businesses open in greater Colorado Springs. That's a nearly 20 percent increase in three years. One of those new businesses is Ultimate Barber Co. off North Academy Boulevard. 

Kenney Silva says he decided to open up his own shop during the pandemic.  

"When that happened I had to stop cutting for two years. We didn't have anything to fall into," said Kenney Silva, Co-Owner of Ultimate Barber Co.

Silva and his wife didn't let skyrocketing inflation get in the way of opening the barbershop. 

"We saved every little penny that we can save and everything was going towards here. We didn't have money saved," added Silva. 

Latrina Ollie is the owner of Luxe Daiquiri Lounge, which opened in January. Ollie says she wants to open up another business in the Springs as soon as next year to help keep growing the economy. 

"I feel like I have a game plan or a strategy to help with prices going up with staff shortage," said Ollie.  

She also believes having more local businesses will attract others to visit Colorado Springs.

"To have a thriving community is to have business owners, entrepreneurs, " said Ollie.   

The business boom is also good news for workers. In 2022 Colorado saw an increase of nearly 105,000 jobs.