Ohio sets record for new business filings in one month

Published 12:12 am Wednesday, September 23, 2020

By The Center Square

COLUMBUS — In the midst of an ongoing pandemic and continued higher-than-average unemployment, Ohio broke a record for new business filings in August.

It was the third consecutive month the state established a new high-water mark for new businesses, according to a news release from Ohio Secretary of State Frank LaRose. August new business totals passed July’s numbers by a few hundred, but they were 72.5 percent ahead of August 2019.

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“It is no surprise that Ohioans continue to start their own businesses at a record pace this year,” LaRose said. “When faced with this historically challenging time, we as a state go the extra mile to create value in the free-market economy for our families and communities, so remember to do your part to support small business and help your fellow Ohioans succeed.”

The record month included 18,659 new businesses, and it followed record months in June and July.

New businesses filings are classified as forms filed with the secretary of state’s office that declare the formation of a business, including for-profit, non-profit and professional corporations, limited liability companies, partnerships, limited partnerships and limited liability partnerships.

The filings do not necessarily guarantee the company will begin operations, according to LaRose.