CLEVELAND — It’s likely that 2021 will be a record year for new business filings.
By the end of October, Ohioans submitted 170,740 new business filings to the state, already nearly topping the record of 171,073 set for all of last year, the Secretary of State’s office announced Thursday.
A new business filing can declare the formation of anything from a a for-profit business to a non-profit entity. It doesn’t guarantee a business will start operating, but Ohio Secretary of State Frank LaRose said its a good-sign for the economy.
“We are witnessing the hard work and enterprise of Ohio entrepreneurs not only breaking records, but making a difference in their communities,” LaRose said in a news release.
“Despite residual economic uncertainties from the coronavirus and anti-business policies coming from Washington, Ohioans are taking chances to provide for their families and build their own way through a pandemic, better than DC can.”
Filings were up 18% through October in comparison to the first 10 months last year. The previous record before 2020 was set in 2019, when 130,621 new business filings were put in.