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January 10, 2022

CT saw 20% increase in 2021 new biz starts

Photo | Pixabay

The state saw a 20% increase in new business registrations in 2021 after averaging about 5% growth for the past decade, according to information from the Secretary of the State’s office.

CTData Collaborative, a nonprofit based in Hartford, used business registration data from the Secretary of the State’s office to analyze recent growth trends. The analysis found there were 47,584 new business starts in Connecticut last year, not including the month of December, which was up from 39,570 business registrations in all of 2020 and 36,323 in 2019.

The organization said the data show Connecticut’s economy is recovering after being impacted by COVID-19 for the past two years.

According to CTData’s report, Connecticut saw business registrations increase by an average of 5% annually from 2010 to 2020. New registrations hit a low of 2,196 registrations in April 2020 shortly after the COVID-19 pandemic hit.

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