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CT releases ‘encouraging’ Q1 business filing data

The Connecticut Secretary of the State’s office published first-quarter 2009 business filing data (business closings and start-ups) on Monday. The headline of the press release was “1st quarter of 2009 saw another record number of Connecticut businesses shut down.” Company shut downs totaled 3,477, with the pace picking up month-over-month into March (the figure was up 16% year-over-year). On the flip side, new start-ups totaled 6,941 (also increasing m-o-m into March), which is nearly double the number of companies that closed, but is still down 13% y-o-y and the lowest tally since 2001. At TradeFlow21, we unmistakably recognize the harsh economic climate. However, at the same time, we are very cognizant of the importance of entrepreneurial spirit (6,941 new businesses in Q1) and of the key role of small businesses: per the CT SOS press release, “Small businesses have created over 90% of all new jobs in Connecticut in the last 10 years and they are the backbone of our economy.”)

This Friday, TradeFlow21 is honored to host its first annual trade summit: Export Connecticut! Middle East Trade Summit. Thus far, approximately 40 Connecticut companies from a variety of industries have registered. We anticipate a lively and informative event: opening remarks by Connecticut Lieutenant Governor Michael Fedele, a keynote address by former U.S. Ambassador Shaun Donnelly (Sr. Director, National Assoc. of Manufacturers), the release of the state’s 2008 International Trade Survey by Peter Gioia, V.P. and Economist at CBIA, and a blue-ribbon round table panel discussion. We look forward to seeing your there. — TradeFlow21: Commerce | Prosperity | Security