Colorado saw 117,648 new businesses register with the secretary of state’s office last year exceeding the 109,526 businesses that filed paperwork with the state in 2016.
According to data collected in the most recent Quarterly Business and Economic Indicators Report published by the University of Colorado Boulder’s business research division, business license filings over the final three months of 2017 outpaced filings over the final quarter of 2016 by 10 percent, helping 2017 beat out the preceding year for business growth.
The report, using information provided by the secretary of state’s office and weighing inflation, labor markets and other factors, found gross domestic product, employment and wages all grew over the final quarter of the year.
“Year-over-year increases in new entity filings and existing entity renewals have me very optimistic that Colorado’s steady economic growth will continue in 2018,” Secretary of State Wayne Williams said in a news release. “I expect 2018 to be a good year for Colorado businesses and consumers.”
