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Secretary Husted Releases New Business Filing Figures for May 2016

For Immediate Release

Media Contact: Joshua Eck
(614) 466-2729

COLUMBUS – Ohio Secretary of State Jon Husted today announced 8,596 new entities filed to do business in Ohio during May 2016. This is an increase over May 2015 when 7,945 entities were formed.  

Each month of 2016 has surpassed previous records set in 2015. This month’s report reveals that over 4,000 more entities have filed so far in 2016 than at the same point in 2015. Between 2010 and 2015, Ohio saw a 21.8 percent increase in new business filings.

Ohio Business Filings

Secretary Husted launched Ohio Business Central in 2013 allowing new businesses to be formed online in Ohio. Today, all Ohio-based businesses can be formed online and more than half of all businesses are started via the Secretary of State’s website. 

Secretary Husted has been determined to use technology to cut costs while improving customer service. This allowed him to reduce the cost of starting a new business in Ohio by 21 percent in 2015. Since the reduction six months ago, entrepreneurs have saved an estimated $1.1 million. Now just $99, Ohio is the least expensive state in the region to start and maintain a business. 

Though the most visible role of the Secretary of State is that of chief elections officer, the office is also the first stop for individuals or companies who want to file and start a business in Ohio. While recognizing these numbers can’t provide a complete picture of Ohio’s jobs climate, they are an important indicator of economic activity that Secretary Husted hopes will add to the ongoing discussion of how to improve the state’s overall climate for business.  

NOTE: 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, non-profit 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.

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