New business filings forecast job growth in Colorado

The latest analysis of new business filings in Colorado forecasts job growth during the third and fourth quarters.

A total of 26,085 new businesses registered with the secretary of state’s office during the second quarter. While new business filings were down from the first quarter, they were up from the second quarter of 2014.

For the 12-month period ending in June, 105,202 new business filings were posted in Colorado.

Business startups during the second quarter forecast year-over-year gains in monthly job growth of 2.6 percent during 2015, according to an analysis reported by the business research division of the Leeds School of Business at the University of Colorado at Boulder.

“The rate of job growth over the past four months has been in the 2 (percent) to 3 percent range, robust by national standards but slower than the 3 (percent) to 4 percent range experienced over the 16 consecutive prior months,” said Richard Wobbekind, executive director of the business research division at the Leeds School of Business. “The business filings data, coupled with other data metrics, indicate Colorado remains on solid footing for future employment growth.”

Wayne Williams, secretary of state, agreed. “It is encouraging to see continued business growth in Colorado.”

A total of 108,842 existing business renewals were filed during the second quarter, down from a record 126,274 renewals during the first quarter but still up from the second quarter of 2014. Domestic limited liability companies accounted for the greatest increase in renewals.

The number of Colorado businesses in good standing climbed to 577,452 during the first quarter, up from the first quarter.