Colorado Springs named No. 1 city in U.S. for small businesses in national Bluevine study

Colorado Springs has been named the No. 1 city for small businesses in the nation in Bluevine's 2026 Best Cities for Small Businesses study, earning the top ranking among 100 metropolitan areas evaluated for their small-business environments.

Mayor Yemi Mobolade announced the recognition Thursday morning during a press conference at Kinship Landing in downtown Colorado Springs, highlighting the city's entrepreneurial community and continued work to make Colorado Springs a place where small businesses can start, grow and succeed.

Colorado Springs earned an overall score of 68.12, ahead of Denver (66.47) and Raleigh, North Carolina (63.35), which rounded out the top three metropolitan areas.

"Being recognized as the No. 1 city in America for small business is an incredible honor; and it belongs first and foremost to our entrepreneurs," said Mayor Yemi Mobolade. "Small businesses are the backbone of our economy and the heart of our neighborhoods. They create jobs, take risks, invest in our community, and turn ideas into opportunity. I'm incredibly proud of the small-business ecosystem we have built together in Colorado Springs and, most of all, of the entrepreneurs who make it work every day."

Bluevine, the largest small business banking platform in the U.S., developed the national ranking using a combination of publicly available federal economic data and activity from its business banking platform.

The study assessed four categories: business survival (25%), business formation (25%), cost of business (20%) and Bluevine banking data (30%). Researchers analyzed 100 metropolitan areas and used data from federal sources including the U.S. Census Bureau, Bureau of Labor Statistics and Small Business Administration.

The analysis considered measures such as one- and five-year business survival rates, new business applications, small-business density, SBA loan activity, regional costs and growth in business banking activity.

"When looking through the methodology Bluevine developed for the study, Colorado Springs performed exceptionally well in Business Growth and in our internal Bluevine data sets - meaning that the city is seeing an influx of small businesses and our data shows that those businesses are seeing strong annual growth in account balances," said Eyal Lifshitz, CEO and Co-Founder of Bluevine. "Along with Denver and Greeley, Colorado is the only state with three metros in the top 15 of our rankings, which shows it's a great place for entrepreneurs looking to start a small business."

The recognition also highlights the importance of regional collaboration in supporting entrepreneurship. The City of Colorado Springs works alongside organizations including the Colorado Springs Chamber & EDC, the Colorado Small Business Development Center (SBDC) serving the Pikes Peak region, Exponential Impact, and other local partners and chambers of commerce to connect businesses with resources, support business development and identify barriers to growth.

Under Mayor Mobolade's administration, the City has emphasized a business-friendly approach to local government, with a focus on simplifying processes, improving responsiveness and cutting red tape. This has included support and development of tools for small businesses including COS Open For Biz, Permit Partner, and COS Business Navigator.

"Colorado Springs has a strong network of organizations that work together to help entrepreneurs start and grow their businesses," said Brandon Eldridge, Executive Director of the Colorado Small Business Development Center (SBDC) serving the Pikes Peak region. "Being named No. 1 in the nation is something we take pride in, and it's a moment to celebrate the entrepreneurs who make this community what it is."

The national recognition comes as the City continues working to strengthen its small-business environment and foster economic opportunities for entrepreneurs across Colorado Springs.

For more information about Bluevine's Best Cities for Small Businesses study, including the full rankings and methodology, visit Bluevine.com/blog/best-cities-for-small-business.