Secretary of State Jon Husted recently announced that 9,271 new entities filed to do business in Ohio in March 2014, bringing the total number of new business filings to date in Ohio to 24,804.
This is a slight increase compared to 8,808 new entities filed with the Secretary of State in March 2013 and 23,965 new business filings in the same time period last year. Husted’s press secretary Matt McClellan stated the Secretary of State’s office does not try to make too many assumptions from the numbers, they simply make the information available.
However, while recognizing the data can’t provide a complete picture of Ohio’s jobs climate, Secretary Husted noted in a press release the numbers are an important indicator of economic activity that he hopes will add to the discussion of how to improve the state’s overall climate for business.
“The only role we have in filing is we serve as the initial stop where businesses have to file,” explained McClellan. “What we have attempted to do to improve the filing process is take more of a customer service approach, and make the process as easy as possible with the launch of online filing.”
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. The online filing system, Ohio Business Central, launched in October 2013 to simplify the business filing process, which benefits both customers and taxpayers by reducing processing times for customers and streamlining administrative operations.
“If Ohio wants to attract new companies, we have to continue to improve and modernize the way business is done,” said Secretary Husted in a March press release. “By focusing on what our customers need we are enabling them to focus on growing their company, which means new job opportunities and a better quality of life for many Ohioans.”
During the previous two years, 2012 and 2013, the state saw a record-setting number of new businesses file with 88,068 and 89,735 new companies filing to do business in Ohio respectively. Growth in online business filings has been steady and available online services continue to expand. Since the program’s launch in October, 9,569 new companies have filed online.
“(Filing online) certainly speeds up the process, with an improved turnaround time,” said McClellan. “They can get it done now in less than a day if they really need to.”
McClellan added a number of businesses outside the state are now choosing to file in Ohio because of the improved filing process. This is good news for Bridget McDaniel, Executive Director of the Richland County Development Group (RCDG).
“We appreciate anybody doing business in Richland County, and we encourage people to use our businesses,” she said. “Anybody doing business in our county is paying taxes, employing our folks, and we encourage any of that.”
McDaniel stated the RCDG works with the organization’s economic development partners to attract business and industry to Richland County. While RCDG focuses mostly on industrial development, the organization sometimes facilitates connections with service or retail businesses and the Ontario Growth Association or Downtown Mansfield Inc.
“We’re happy to be the central point for anybody, if it’s not something we can help with we can refer them to someone who can help,” she said.
Filing as a business in Ohio does not guarantee the company will begin operations, be profitable or create jobs. However, McDaniel is optimistic that the increase of new business filings in Ohio means good things for Richland County.
“We’ve had some uptick in new businesses, and we’ve had some increased growth in existing businesses, so things are looking good for our local economy,” she said. “We have a lot of different resources we can bring to new business or industry. It’s a good place to do business.”
