Colorado business registrations surged 9.9 percent in the first quarter, reaching 35,672 new filings, and that points to more hiring in the months ahead, according to a .
“We continue to see low unemployment, higher average wages and increasing numbers of new businesses forming in Colorado. I am very encouraged by this report and share in Colorado business leaders’ optimism for our second and third quarter,” said Secretary Wayne Williams in the report.
The number of existing businesses that renewed with the state increased 6.2 percent to 148,528, bringing the number of entities in good standing to a record 677,537. The number of business that sought dissolutions rose 9.4 percent from a year earlier to 8,566.
Economists view business registrations and renewals as an indicator of confidence and future hiring, while an acceleration in business closures would point to slower growth ahead.
“Based on the filings and employment data, Colorado isn’t slowing quite as quickly as we initially believed,” said Richard Wobbekind, executive director of the Business Research Division at the University of Colorado Leeds School of Business, in the report.
