Given a choice between applying for one of the numerous job openings out there or starting their own ventures, Coloradans appear to be taking the entrepreneurial route, forming an unprecedented number of businesses this year.
Most of the filings were for LLCs, preferred by sole proprietors, and it isn’t entirely clear why so many businesses are forming this year compared with prior years.
But Colorado has seen a shift in its economy, moving from having one of the strongest rates of job growth during the pandemic recovery to having one of the weakest this year. June job growth came in at 1.5%, which ranked 44th-slowest among states. So if anyone who wants a job can find one, or work two if they so desire, why go out and start a business to make income?
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