DENVER, July 21, 2016 – Colorado Secretary of State Wayne Williams today released the Quarterly Business and Economic Indicators Report for the second quarter of 2016. During the second quarter, both new business filings and existing entity renewals declined from the previous quarter, but increased versus the prior year.
“Business formation continues to accelerate in Colorado,” Secretary Williams said. “My office is proud to be able to help Coloradans put their ideas into the marketplace.”
In the three-month period ending in June, there were 119,132 business entity renewals, an increase of 9.5 percent since the second quarter of 2015. Limited liability companies once again drove year-over-year growth in entities in good standing.
“Even though the state economy is showing a more modest growth rate, we are encouraged by both the year-over-year job growth and the performance of 10 of the 11 industry sectors,” said economist Richard Wobbekind, executive director of CU Boulder’s Business Research Division.
During the second quarter, a total of 28,074 new businesses filed with the Secretary of State’s office, a decrease from the first quarter of 2016 but an increase of 7.6 percent over the prior year. Colorado recorded 106,225 new entities during the 12 months ending in June—a one percent increase over the previous twelve months. The second quarter finished with 610,047 total entities in good standing in the business registry, a 5.1 percent increase over the prior year.
Published by the Business Research Division at the Leeds School of Business, University of Colorado Boulder, the Quarterly Business and Economic Indicators Report uses data from the Secretary of State’s central business registry.
Visit the Colorado Secretary of State’s website to view past reports or sign up to receive the report by email.