Ohio New Business Filings Up Significantly in July
COLUMBUS, Ohio – The number of new business entities filing documents in July to do business in Ohio rose significantly compared to July 2014.
According to an announcement from the office of Secretary of State Jon Husted, 9,348 new entities filed start-up documents last month. This compares to just 6,922 entities filed in July 2014.
Year-to-date, 59,862 new businesses have been formed in Ohio, maintaining course for 2015 to be a record-breaking year for the state, Husted said. At the same point in 2014, 56,179 new businesses were filed with the secretary of state.
At Husted’s request, in June the General Assembly in June approved a 21% cut to the cost of starting and maintaining a new business in Ohio. The cost reduction, which goes into effect this fall, will make Ohio the least expensive state in the region to start and maintain a new business.
In addition, more than 80% of all filings are completed online with one in two companies now being established electronically through the secretary of State’s Ohio Business Central service.
New business filings are classified as forms filed with the 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.
SOURCE: Office of Ohio Secretary of State Jon Husted
Copyright 2022 The Business Journal, Youngstown, Ohio.