Volunteer to mentor and support small business owners and entrepreneurs.

Small businesses with mentors are more successful and achieve higher revenues and increased business growth. A recent survey found that 70% of small businesses that received mentoring survived more than five years, double the survival rates of small businesses that did not receive mentoring. That same survey also found that 88% of business owners with a mentor said that having one was invaluable.

Business mentors can provide expertise and guidance for new business owners who are navigating the process of starting and building a business. Colorado is a great state for entrepreneurs, but new businesses need support in order to grow, contribute to our economy and create quality jobs.

Here are some steps to get you started:

Contact small businesses or organizations in your field or industry.

If you have a friend that runs a woman-, Black- or LatinX-owned business, take that extra step to reach out to them.

Join or start a peer group for small businesses to grow together.