Continued new business formation in Colorado should bode well for employment in the state for the second and third quarters, according to a University of Colorado report released Thursday.
In the first quarter of this year, there were 28,115 new business filings made, up from 26,523 for the first three months of 2014, according to the Quarterly Business & Economic Indicators , which is based on data from the Colorado secretary of state’s office.
A 12-month trailing total of new entity filings also increased as compared with the most recent quarter. There were 103,719 new businesses formed during the 12-month period that ended in March, up from 102,127 businesses formed in the 12 months that ended Dec. 31, 2014.
Existing entity renewals were a record high 126,282 during the first quarter, according to the report. There were 107,848 renewals made in the fourth quarter of 2014.
The growth rate of the new filings, however, has started to slow, said Richard Wobbekind, economist and executive director of CU’s Business Research Division.
“Despite , other indicators continue to point to a very healthy economy,” Wobbekind said in a statement. “While new filings remain impressive, the employment outlook is dampening slightly for 2015.”
