Fewer Connecticut businesses opened and closed their doors in the third quarter than a year ago, more evidence of the foggy status of the state’s economy, data authorities say.
Incorporation papers were filed by 5,899 new firms from July to September, down 12.6 percent from 6,624 applications in the same period last year, according to the secretary of the state office that registers all private businesses operating in Connecticut.
Meantime, there was positive news in that the 2,270 dissolution filings in the three-month period were down 11 percent from 2,596 shutdowns a year earlier, the office said.
“The third quarter data suggests that Connecticut’s economic recovery is unfolding in uneven fashion with both business starts and failures being below the levels of one year ago,” said New Haven economist Don Klepper-Smith, who chairs the Governor’s Council of Economic Advisors.
” … I think it is safe to say that we’re apt to lag prior economic recoveries over the next year given current fundamentals,” Klepper-Smith said.
Secretary of the State Susan Bysiewicz said the economy’s mixed performance reinforces the “need to focus as a state on making it easier for entrepreneurs to start a business, succeed, and create jobs. This means reducing some of the higher costs and unnecessary fees or taxes that unduly impact small business.”Â
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