Record Number of New Business Filings in March
COLUMBUS, Ohio – More new businesses filed start-up documents in March than in any previous month since recordkeeping began, reports Ohio Secretary of State Jon Husted. Last month 12,827 new entities filed to do business in the state – 2,349 more than in March 2016, he says.
Through the first three months of the year, 33,064 new entities have submitted business formation documents.
Husted previously reported that 2016 was the seventh consecutive year the state has seen a record number of new entities filing to do business. “With strong filing growth in the first quarter of 2017, Ohio is well on its way to another record year,” he says.
March 2017 marked 17 months since Husted reduced the cost of starting and maintaining a business in the Buckeye State by 21%, which has saved Ohio businesses over $3.6 million, his office notes.
Meanwhile, use of the online business filing site continues to climb. Three out of every four entities established this year were started online. In the 17 months the site has operated, it has processed 229,365 online filings, according to Husted’s office.
New business filings 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 2023 The Business Journal, Youngstown, Ohio.