Everything’s coming up in favor of business this week. Or is it? The state had a record number of new businesses filing to start up last year. Fourth quarter, in fact, had the highest number of new entity filings in more than a decade, according to Colorado Secretary of State data. They increased 37.2% in the fourth quarter from a year ago, coming in at 48,806. Prior to 2021, filings were typically in the high 20,000s or low 30,000s each quarter. Colorado had its biggest year for business startups in 2022. Fourth quarter hit a record with 48,806 new entity filings, according to the Colorado Secretary of State. As economic growth slowed last year, economists theorized that people were looking for alternatives or side gigs to earn money so they started a business. For better or worse, the numbers kept growing. The ( red bars ) show fourth quarters that had fewer new business filings than the previous year while ( green bars ) show annual growth. Another indicator? The number of companies dissolving also increased in the fourth quarter by 17%, while those that were late or delinquent with their paperwork also grew 9.7%. The uptick could be […]
What’s Working: Colorado business bankruptcies decline; startups on the rise
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