According to a recent article in the Denver Business Journal and a report released by Colorado Secretary of State, Scott Gessler, Colorado experienced a record increase in the number of new-business filings in the third quarter. The state recorded a total of 27,640 new Q3 filings . That’s a 32 percent increase over the same period last year.
According to the report, this marked the fastest growth in filings since 2006.
Colorado’s continued business growth certainly bodes well for employment and other economic factors over the coming year. According to the Secretary of State’s report, the link between new entity filings and non-farm employment points toward continued growth in employment at least through the first quarter of 2015.
Existing entity renewals were also up over the same period last year, with a 7 percent increase over the third quarter in 2013. Well over half a million total entities are now in good standing with the business registry in the third quarter, a nearly 7 percent increase over the same period last year.