Ohio breaks record for new business filings in a year
(The Center Square) – An ongoing COVID-19 pandemic, labor shortages, supply shortages and rising inflation did not deter Ohioans from starting businesses in 2021, Secretary of State Frank LaRose said.
LaRose recently revealed Ohio has broken the record for new filings in a year, despite a month remaining in 2021. As of Nov. 21, 181,586 new businesses had been created in the state; the previous high was 171,073 in 2020.
“Entrepreneurs deserve all the credit – plain and simple,” LaRose said. “They’re the ones putting in the long hours, building their product, providing the services, and most importantly – taking the big chances. With great resolve, Ohioans have stood in the face of unpredictable headwinds and sent a loud and clear message to the nation – I want to do business in Ohio.”
The business news came on the heels of recently released positive unemployment figures for the state.
The state’s jobless rate fell to 5.1% in October from 5.3% in September, which matched the same rate of decline as the national unemployment figure, according to the Ohio Department of Job and Family Services.
The private sector created 20,000 jobs in Ohio in October, according to the state’s office of workforce development, with nearly every business sector adding jobs. Two key sectors were transportation and warehousing, where 4,100 jobs were added and supply chain struggles continued across the country. The leisure and hospitality sector in Ohio added 8,200 jobs during the month.
Private-sector employment in the state, however, remains nearly 200,000 jobs below pre-pandemic levels.
New business filings means forms have been filed with LaRose’s office declaring the formation of a business entity, which includes for-profit, nonprofit and professional corporations, limited liability companies, partnerships, limited partnerships and limited liability partnerships.
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