Mar 16, 2008 5:56 pm US/Mountain
Some Small Businesses Thriving Despite Economy
DENVER (CBS4) ―
There is some optimism amidst the economic gloom -- small businesses owners are forging ahead.
Lovely Confections owner, Porche Lovely, had the typical problems starting up her cupcake business that just opened in February.
"I've had people go, 'Now are you sure? Because of the economy, it's bad. People aren't going to be spending money,'" Lovely said.
She went to Bill Boothy, a retired small business owner, who volunteers as a counselor for people like Lovely. His services are free and his staff of 80 tries to keep up with the demand.
Her computer software job was on rocks, and in 2004 she was laid off. Plan B for Lovely was the bakery, so she went to pastry school, but knew she had to know more than how to make a good cupcake.
"She had excellent control of her capital, and she's not stretched," Boothy said. "She has the financial resources to do what she needs to do."
Boothy said his activities pick up when times get a little more difficult because people are looking for other alternatives.
Colorado's Small Business Association says from Oct. 1 through March 14, it's approved more than 1,000 loans worth $236 million, which is on pace to match last year's record loan levels.
For Lovely Confections, the theme his is all organic, all local and all natural.
"It's exciting, it's terrifying, it's every emotion you could imagine," Lovely said.
So far, it's working.
Successful start-up businesses are good for the economy.
Additional Resources • To learn the ABC's of starting a small business or how to manage an existing business, check out the
SCORE counselors. They are working and retired executives that share their insight into business.
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