New business

Ohio Breaks Record for New Businesses in One Year | Ohio


(The Center Square) – An ongoing COVID-19 pandemic, labor shortages, supply shortages and rising inflation have not deterred Ohio residents from setting up businesses in 2021 said Secretary of State Frank LaRose.

LaRose recently revealed that Ohio had broken the record for new filings in one year, despite having a month remaining in 2021. As of November 21, 181,586 new businesses had been started in the state; the previous record was 171,073 in 2020.

“Entrepreneurs deserve all the credit – quite simply,” said LaRose. “They’re the ones who put in the long hours, build their product, deliver the services, and most importantly, take the big risks. With great determination, Ohioans faced unpredictable headwinds and sent a strong and clear message to the nation: I want to do business in Ohio. “

The economic news came on the heels of recently released positive unemployment figures for the state.

The state’s unemployment rate fell to 5.1% in October from 5.3% in September, which is the same rate of decline as the national unemployment rate, according to the Department of Employment and Labor. family from Ohio.

The private sector created 20,000 jobs in Ohio in October, according to the state’s Office for Workforce Development, with nearly every industry creating jobs. Two key sectors were transportation and warehousing, where 4,100 jobs were created and supply chain struggles continued across the country. Ohio’s entertainment and hospitality industry added 8,200 jobs during the month.

Private sector employment in the state, however, remains nearly 200,000 jobs below pre-pandemic levels.

The new corporate filings mean that forms have been filed with LaRose’s office declaring the formation of a business entity, which includes for-profit, non-profit and professional corporations, limited liability companies, partnerships , limited partnerships and limited liability companies.