Despite a dip in business filings in Colorado during the third quarter of 2015 with 25,164 new entities recorded, employment in the state is projected to expand over the next two quarters, according to a University of Colorado Boulder report released today by Colorado Secretary of State Wayne Williams.
The quarterly indicators report, prepared by CU-Boulder’s Business Research Division at the Leeds School of Business, uses data from the secretary of state’s business registry.
The third-quarter new entity filings are down from 26,085 in the second quarter of the year and down from 27,642 at the same time in 2014.
A total of 102,724 new entities were recorded during the 12-month period ending in September.
The number of entities in good standing ticked up 6 percent year-over-year.
“Despite the decrease in new business filings since the previous quarter, Colorado is nearing a major milestone of having 600,000 business entities in good standing,” said Williams. “Coloradans continue to eagerly put their ideas into the marketplace.”
A temporary fee holiday a year ago that reduced filing fees to $1 increased new business formation and now is contributing to a boost in existing entity renewals in the third quarter of 2015 to 114,676. This is up from 108,842 in the second quarter of the year and puts existing entity renewals at 457,643 for the 12-month period ending in September.
“Although new filings are down quarter-over-quarter and year-over-year, the level is sufficient to sustain continued growth in the economy albeit at a slower pace,” said economist Richard Wobbekind, executive director of CU-Boulder’s Business Research Division.
Visit the secretary of state’s website at http://www.sos.state.co.us/pubs/business/quarterlyReports/index.html to view current and past reports or to sign up to receive reports by email.
Richard Wobbekind, Leeds School, 303-492-1147
Brian Lewandowski, Leeds School, 303-492-3307
Elizabeth Lock, CU-Boulder media relations, 303-492-3117
Tim Griesmer, Colorado Dept. of State, 303-860-6903