COLUMBUS – Ohio Secretary of State Frank LaRose announced another strong month for new business growth this year with 18,881 new business filings in March 2023. The first quarter of 2023 saw the highest new business creation in state history with 51,881 new business filings.
“This is an incredible accomplishment given the national economic uncertainties facing today’s job creators,” said Secretary LaRose. “It speaks to the resilience of Ohio’s entrepreneurial spirit and reinforces the pro-growth policies that make Ohio an attractive place to do business.”
How the Secretary of State contributes to Ohio's strong business climate:
Through streamlining certifications for minority, women, and veteran-owned businesses and modernizing the process for limited liability companies (LLCs) to incorporate in Ohio, Secretary LaRose continues to work to simplify the process for starting a business in the Buckeye State.
A new business in Ohio can be filed in Ohio for $99 – less than our neighboring states – and the application can typically be processed in twenty-four hours.
Secretary LaRose has also expanded the Ohio Business Resource Connection, a compilation of private and public resources available to assist businesses.
Secretary LaRose has hosted 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.
Secretary LaRose is currently working with the legislature to pass legislation to protect Ohio businesses from business identity theft and other business related fraud.
Quick Facts:
18,810 new businesses were created in March 2023, a 527 filing decrease from March 2022.
51,881 new businesses were created so far in 2023, a 1,485 filing increase from the same point in 2022.
2019, 2020, and 2021 were all record-setting years in Ohio for new business creation. In 2021, Ohio surpassed the annual filing record with 197,010 new business filings.
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.
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