Economic Development

2019 Begins with Record Startup Filings in Ohio

COLUMBUS, Ohio — 2019 is off to a brisk start in terms of new business filings, Ohio Secretary of State Frank LaRose announced Friday, with 12,129 new entities submitting startup documents to his office in January.

That amounts to increase of 2,054, or 20.4%, when compared to January 2018.

“Ohio’s economy is strengthened when a business chooses to establish its roots right here in Ohio, and these numbers are a very positive indicator that entrepreneurs are looking to make a home in Ohio,” said LaRose in a statement.

Last year 125,204 entities filed paperwork to do business in Ohio, setting a record from 2017 when the previous high — 117,429 filings — was reached.

A significant amount of Ohioans are taking advantage of online filings through Ohio Business Central. Last month, online filings made up 83% of all business filings, he noted.

New business filings are classified as forms filed with the Ohio Secretary of State that declare the formation of a business entity, including for-profit, nonprofit and professional corporations, limited liability companies, partnerships, limited partnerships and limited liability partnerships.

Filing as a business in Ohio does not guarantee the company will begin operations, be profitable or create jobs, the secretary of state office stipulates when releasing monthly numbers.

Published by The Business Journal, Youngstown, Ohio.