While Colorado’s economy has mostly recovered from the pandemic, mixed metrics from the Colorado Secretary of State Quarterly Business & Economic Indicators report released Tuesday show growth and shrinkage in important areas.
New business filings with the Secretary of State in the first quarter of 2022 rose from the fourth quarter of 2021, but totals are down year-over-year from the record set during the first quarter of 2021. Overall, more than 43,000 new businesses filed with the secretary of state over the first quarter of 2022. Rates of renewals increased 10.3% over the first quarter of 2021, but rates of dissolution increased 20.4% over that same period.
Brian Lewandowski, executive director of the Business Research Division of the University of Colorado Boulder Leeds School of Business, pointed out that different metrics can tell different stories about the economy’s overall performance.
“When we look at the data,…