Ohio business filings at record level for seventh straight year

On Behalf of | Jan 21, 2017 | Employment Law

How many new business filings has Ohio been seeing in recent times? Well, statistics recently announced by the state’s Secretary of State suggest that there were quite a few such filings last year and that such filings have been trending up lately.

According to the statistics, filings for forming a new business in the state topped 100,000 in 2016. Specifically, there were 105,009 such filings that year.

This was up from 2015, which saw a total of 97,746 filings. In fact, the 2016 filing total was a record high for the state.

Reportedly, 2016 was the 7th straight year in which new business filings hit a record level in Ohio.

Given that these statistics only gauge filings to form a new business in the state, not other actions of a new business, there are limits as to what kinds of conclusions can be drawn from them. However, they do at least seem to suggest that Ohio has been seeing a fair number of new businesses in recent years.

Why do you think Ohio has been seeing such high levels of new business filings in recent years? What do you think upcoming years will hold for new business development here in Ohio?

Many significant legal issues can come up for an Ohio business owner as they are trying to get a new business started. Among these are employment law issues, as one of the big things starting a business can involve is hiring employees. When it comes to hiring a new employee and bringing them onboard, missteps, such as errors or oversights regarding an employment contract or not giving due regard to ensuring their company’s hiring and employment practices are in compliance with state and federal rules, could end up being quite costly for an owner of a new business. So, when it comes to employment issues related to starting their business, an entrepreneur may want to turn to an attorney knowledgeable in employment law matters for businesses for guidance.

Source: The Highland County Press, “Husted: 2016 was Ohio’s seventh consecutive year of record business growth,” Jan. 17, 2017