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鈥檚 at the Leeds School of Business, uses data from the secretary of state鈥檚 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.
鈥淒espite 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,鈥� said Williams. 鈥淐oloradans continue to eagerly put their ideas into the marketplace.鈥�
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.
鈥淎lthough 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,鈥� said economist Richard Wobbekind, executive director of CU-Boulder鈥檚 Business Research Division.
Visit the secretary of state鈥檚 website at to view current and past reports or to sign up to receive reports by email.
Contact:
Richard Wobbekind, Leeds School, 303-492-1147
richard.wobbekind@colorado.edu
Brian Lewandowski, Leeds School, 303-492-3307
brian.lewandowski@colorado.edu
Elizabeth Lock, CU-Boulder media relations, 303-492-3117
elizabeth.lock@colorado.edu
Tim Griesmer, Colorado Dept. of State, 303-860-6903
tim.griesmer@sos.state.co.us
Downtown Denver. (Photo by Casey A. Cass/University of Colorado Boulder)
