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Secretary Husted Releases New Business Filing Figures for October 2016

COLUMBUS– Ohio Secretary of State Jon Husted today announced 8,281 new entities filed to do business in Ohio during October 2016, an increase of 443 entities when compared to October of 2015.  
The state has maintained course for 2016 to be a record-breaking year for new businesses in Ohio with 5,638 more entities having filed to do business in Ohio this year than at the same point in 2015, which holds the current annual record. Between 2010 and 2015, Ohio saw a 21.8 percent increase in new business filings.

Graphic: Ohio Business Filings See continued growth every year

A focal point of Secretary Husted’s administration has been to make the process of starting and maintaining a new business in Ohio simpler and more cost-effective for entrepreneurs. In 2013, the Secretary announced his office would overhaul the paper-only filing system with the launch of Ohio Business Central, which allows businesses to be formed through the click of a button and in significantly less time.

This streamlined operation paved the way for reducing the cost of starting and maintaining a business in the Buckeye State by 21 percent, which has saved Ohio businesses over $2.5 million so far, more than was previously predicted. Secretary Husted has also started a partnership with Google’s “Let’s Put Our Cities on the Map” program to put additional tools for success in the hands of new Ohio entrepreneurs.

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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Sam Rossi
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