New business filings up slightly in Q2

DENVER — New Colorado business filings grew in the second quarter of 2019, albeit slowly.

The state saw  31,762 new business entities filed in the period, up 0.6 percent from the second quarter of 2018, according to newly released data from the Colorado Secretary of State’s Office and Business Research Division at the University of Colorado Boulder Leeds School of Business.

There were 135,848 business renewals and more than 727,000 businesses in good standing recorded last quarter, both increases over the same period last year.

“Colorado’s economy is performing well despite slower growth nationally,” Colorado Secretary of State Jena Griswold said in a statement that accompanied the Quarterly Business and Economic Indicators report. “Employment in our state continues its upward trend, and we hope to see continued growth in the next two quarters.”

Despite a slowing national economy Colorado will likely continue to add new companies and jobs at least through the end of 2019, according to the report.

“The slower growth in new business filings is consistent with generally slower growth we are observing in other parts of the economy,” Brian Lewandowski, associate director of CU’s Business Research Division, said in a prepared statement. “Despite this, the state continues to be among the leading growth economies nationally.”

Average wages totaled $58,942, compared with the national average of $57,265, according to the report.

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