Ohio business filings increase year-over-year for 4th consecutive month
Ohio Secretary of State Frank LaRose announced 15,917 new business filings were created in August 2023. Due to the dedication of Ohio's business owners, this is the fourth straight month that business filings have increased year-over-year.
Despite concerns of recession, difficult job openings to fill and less hope for higher real sales (as reported by the NFIB), entrepreneurs are continuing to do business in Ohio's pro-small business economy. Secretary LaRose has played a key role in earning the confidence of future and current small businesses by:
• Working with the state legislature to streamline certifications for minority, women, and veteran-owned businesses and modernize the process for limited liability companies (LLCs) to register in Ohio.
• Fighting to keep business fees low. In Ohio, a new business can be registered for $99.
• Expanding the Ohio Business Resource Connection, a compilation of private and public resources available to assist businesses.
• Hosting dozens of roundtables throughout the state with community, legislative and business leaders to spread the word about the resources available for entrepreneurs looking to start or grow their businesses.
• Advocating for legislation to protect Ohio businesses from business identity theft and other business-related fraud. Follow Senate Bill 98 in the Ohio Senate sponsored by Sen. Michael Rulli (R-Salem).
Quick Facts:
• 15,917 new businesses were created in August 2023.
• 128,847 new businesses have been created so far in 2023.
• The Main Street Tax Certainty Act was introduced in Congress to make the 20-percent Small Business Deduction permanent.
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, 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.