Ohio New Business Filings Decline in February

COLUMBUS, Ohio — The number of new entities filing documents to do business in Ohio declined to 9,634 in February, reports the office of Ohio Secretary of State Jon Husted. That compares to 10,204 entities formed during February 2017.

In 2017, 117,429 new businesses registered with the secretary of state’s office, surpassing the previous record set in 2016 of 105,009. Last year also marked the eighth consecutive year the state has seen a record number of new business filings. In all, Ohio has seen a rise of 46.3% in filings from 2010 to 2017.

Four out of every five businesses are now started online through Ohio Business Central, a web portal launched in 2015, Husted notes.

New business filings are classified as forms filed with the sate 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.

Copyright 2022 The Business Journal, Youngstown, Ohio.