LaRose: Ohio’s business creation climate resilient despite national challenges
Ohio Secretary of State Frank LaRose announced Friday that Ohio’s new business filings rose 12 percent year over year, with 14,500 new businesses created in July. Ohio continues to remain ahead of the previous year's pace and on track to exceed 2022's near-record of 178,636 business filings.
Ohio remains an attractive place to start and grow a business despite serious national economic challenges. According to a recent survey by the NFIB, historic numbers of small businesses continue to report problems with inflation and filling job openings, while overall optimism about the business environment remains low.
Throughout his time in office, Secretary LaRose has worked to promote the success of Ohio's 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 incorporate in Ohio.
• Fighting to keep business fees low. In Ohio, a new business can be registered for $99 – less than neighboring states. Additionally, applications can typically be processed in 24 hours.
• 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.
Ohio entrepreneurs can visit OhioSoS.gov/BusinessResources to discover the helpful opportunities available to them that can help them start and grow their 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.