New Bend Business Registrations Topped 300
If you’ve followed the Bend Entrepreneur Report posts here at EagerLaw PC, you know new Bend business registrations (and new Oregon business registrations as a whole) fell off by more than 20% in April. The May numbers are in, and we’re pleased to report Central Oregon showed encouraging gains in May.
In April we reported 260 new business registrations in Bend, but in May, that number increased to 314, which is fairly typical of what we saw with new business registrations each month during the first quarter of the year. Even with the dip, April’s new Bend business registrations were impressive compared to the average throughout Oregon that month—but those numbers came back up fairly dramatically in May.
Bend Business Registrations Double State Average for May
In fact, Bend more than doubled the rate of new business registrations in Oregon as a whole. Nearly all of Oregon’s largest cities saw gains in May over April’s new business registration numbers, but Bend’s rate of nearly 345 new business registrations per 100,000 population eclipsed the statewide rate of just under 138 new business registrations per 100,000 population. And, as usual, Bend was second only to Portland in number of business registrations. This has been true four out of the last five months.
New Business Registrations Strong Across Central Oregon
That held true for Central Oregon as a whole: From Sisters to Prineville and Madras to Sunriver, new business registrations were higher in May than in April. The two notable exceptions were Redmond and La Pine, which saw 50 and 15 new business registrations in May, respectively. For prospective business owners eyeing those two cities, that could signal opportunity, particularly since the average rate of new business registrations per 100,000 population in both Redmond and La Pine last month were well above the state average.
While statewide new business registrations climbed 12% in May over April’s numbers, they still aren’t back up to the levels we saw in the first quarter of 2017. Central Oregon, by contrast, is generally looking strong. Bottom line: Our region continues to be an attractive location to entrepreneurs looking to start new businesses or relocate businesses from out of state.