Economic Development

New Business Filings Reach Record 117K in 2017

COLUMBUS, Ohio ­­– A record 117,429 businesses formed in Ohio in 2017, Secretary of State Jon Husted announced, marking the eighth consecutive year a record number of entities filed to do businesses.

In 2016, 105,009 businesses were formed. In 2011, when Husted first took office, 82,601 businesses filed papers.

“People tend to take notice whenever government gets out of the way and makes it easier to do something,” Husted said in a release. “That’s exactly what we’ve done in Ohio when it comes to starting a business.”

Since Husted took office, there has been a 21% reduction in the cost to start and maintain a business, in part due to the ability for entrepreneurs to file all necessary forms online. Several partnerships, including with the Cleveland Sight Center to operate the Business Service Call Center  and Google’s Let Put Our Cities on the Map program.

These efforts, Husted said, have saved Ohio businesses $5.5 million.

Published by The Business Journal, Youngstown, Ohio.