Colorado records nearly 36K new business filings in Q1

DENVER — Nearly 36,000 new companies filed to do business in Colorado during the first quarter of 2019, up about 0.5 percent compared to the same period in 2018.

“Given the relationship between new business filings, new business formation, and employment growth, the increase in filings points to continued job growth in the state throughout 2019,” according to Colorado Secretary of State Jenna Griswold’s recently released Quarterly Business and Economic Indicators report.

While Colorado continues to add new businesses, it is doing so more slowly than in the recent past. New business filings grew at the slowest rate since the fourth quarter of 2015.

The number of companies filing to renew business with the Secretary of State’s Office ticked up about 7.6 percent in the first quarter of 2019, totaling about 160,000.

“Trade names and trademarks both fell in the quarter, and dissolution filings notched higher,” according to the report.

The report noted a 3.6 percent wage increase for Colorado workers during 2018. Annual average wages topped $58,000 for the first time in state history.

“In the midst of a tight labor market, some employers find measures to attract and retain employees,” the report said. “This may be seen in the form of cultural changes, flexible work schedules, lower education requirements, or other benefits. The state continues to see companies relocating and expanding. High-quality workers continue to be drawn to Colorado for an attractive lifestyle.”

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