Economic Development

New Business Filings Top 8,200 in October

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COLUMBUS, Ohio – The number of new businesses filing start-up documents in Ohio last month totaled 8,281, the Ohio Secretary of State’s office announced, an increase of 443 from October 2015.

So far this year, the number of new-business filings is on pace to set a record in the state, as 5,638 more filings have been made through the first 10 months of the year than in all of 2015. Last year, 83,125 businesses filed documents and this year’s total has already surpassed 88,000.

Between 2010 and 2015, there was a 21.8% increase in new-business filings statewide.

In 2013, the office announced the launch of Ohio Business Central, which allows businesses to fill out all necessary start-up documents online. According to Secretary of State Jon Husted, digitizing the process has reduced the cost of starting and maintaining a business in Ohio 21%, saving Ohioans $2.5 million.

New business filings are forms that declare the formation of nonprofit, for-profit and professional corporations, limited liability companies, partnerships, limited partnerships and limited liability partnerships.

Published by The Business Journal, Youngstown, Ohio.