CU report predicts continued business growth in Colorado

BOULDER — With an increase in business filings in Colorado through the first quarter of 2015 – including new and renewing entities and trade names – employment in the state is expected to keep growing during the second and third quarters of the year, according to a report prepared by the University of Colorado Boulder and released Thursday by Colorado Secretary of State Wayne Williams.

The quarterly indicators report, prepared by CU-Boulder’s Leeds School of Business research division, uses data from the secretary of state’s central business registry.

During the first quarter of 2015, according to the report, a total of 28,115 new businesses formed in Colorado, up from 26,523 during the same period in 2014.

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“Coloradans continue to drive our economy upward by adding their ideas to the marketplace,” said Williams in a prepared statement. “Our small businesses are the lifeblood of our communities and their growth is encouraging.”

Colorado recorded 103,719 new entities during the 12-month period ending in March, up from 102,127 new entities recorded in the 12-month period ending in December.

“Despite a drop in employment in Colorado from February to March, other indicators continue to point to a very healthy economy,” said economist Richard Wobbekind, executive director of the research division at Leeds. “While new business filings remain impressive, the employment outlook is dampening slightly for 2015.”

Existing entity renewals spiked in the first quarter of 2015 at a record 126,282, up from 107,848 in the fourth quarter of last year. Domestic limited liability companies represented the greatest increase in renewals among existing entities.

The number of Colorado entities in good standing went up in the first quarter to 571,386, a 7 percent increase compared with the same time in 2014.

The full report and an archive of past reports are online.