The Colorado economy is sending out a lot of mixed signals right now. Last week, I highlighted how Denver restaurant visits are down, and how Denver restaurant owners could effectively market their businesses online. I also discussed how luxury home sales within the Denver metro are also down from last year - serving as another indicator that the Denver economy has a quite a way to go before a full economic recovery can be declared. I dug up a few more articles from last week that seem to point towards a continued mixed bag for the Denver metro economy.
Denver Economy: Negative News
A recent Denver Business Journal article mentions that the Goss Institute for Economic Research director - Ernie Goss - believes that positive business growth is in store for Colorado - although job growth will remain slow.
Another indicator that the Denver metro economy is still hurting - Denver lost 48,600 jobs over the last year. This article is also from the Denver Business Journal, and represents nearly 4% of the total jobs. With less paychecks to go around, the economy as a whole suffers.
Denver Economy: Positive News
The good news is that there seems to be some improvement on a national level. The Denver Post, reporting Federal figures, tells that on a National scale, the unemployment rate dropped from 10.2% to 10%. This is the first time the unemployment rate has actually gone down since July. Although .2% is obviously only a slight decline, it is an improvement and one that wasn't expected. It could be an indicator that the economy as a whole is improving and Denver may eventually start to bounce back as well.
How Does this Help Me Market My Denver Small Business?
Whether these stories make you bullish on the Denver economy - or if you think that Denver is in for even more rough times - as a small business owner, you need to take action to be even more competitive. Recession is the time when doing business as usual goes out the window. Small businesses are finding that marketing techniques that worked effectively in the past are no longer providing results.
Denver small businesses that wish to survive - or even prosper - in a down economy need to investigate online marketing. It is by far the most cost effective use of your marketing dollars.