Bend Entrepreneurs Registered More Businesses per Capita than any Other City in Oregon in 2017
Bend Entrepreneur Report: 2017 Annual Report
Back in January 2017, we decided to start tracking the number of new Bend businesses registered with the Oregon Secretary of State. We sorted the publicly available data and, on a monthly basis for a year now, we reported our findings in the Bend Entrepreneur Report. What we found over the course of the year was pretty cool.
Entrepreneurs in Bend Registered More Businesses per Capita than any other City in Oregon
You know that thing about Bend being an entrepreneurial city? It is. Big time. There was one 2017 business registration in Bend for every 28 residents. In other words, walk down your street and chances are someone and probably multiple someone’s on your street registered a business in 2017.
The next closest among cities with populations over 30,000 (the numbers get wonky below that population) is Lake Oswego, with one business registration for every 30 residents. Have you been to Lake Oswego? There’s not a lot of workforce residents there, who typically have neither the means nor the inclination to start businesses. Bend is a self-sufficient city, not an elite suburb, with residents of all incomes – and there were more registrations in Bend.
Portland, which registered the largest total number of businesses but also, by far, the largest population, only registered one business for every 84 residents. The statewide average was a business registration for every 65 residents.
Business Registrations were Seasonal
Maybe not surprisingly, entrepreneurs registered more Bend businesses when most folks are working, and not during the summer or the holiday season. The biggest months were March, January, October and May. The slowest were August, November and July.
In general, registrations were strongest at the beginning of the year and, aside from a big month of October, slower in the latter half of the year.
Looking Ahead to 2018
With a year of data under our belts, we’ll be able to compare monthly 2018 data with that from 2017. Will the rapid rate of business registration in Bend continue in 2018? It may be that factors such as a tight labor market and limited commercial and industrial space in Bend force a slowdown in registrations. On the other hand, nationally small business and consumer optimism are high.
We will release our first Entrepreneur Report of 2018, analyzing January data, in early February. Stay tuned.
Each month, EagerLaw carefully analyzes Oregon Secretary of State’s business registration data to prepare the Bend Entrepreneur Report. The report is released monthly to local media and on the EagerLaw PC Facebook page, where the firm also spotlights local business achievements and provides information of use to Bend businesses.