(The Center Square) – New business filings in Ohio continued its 2023 roller-coaster ride, rising in May after a dip in April, according to Secretary of State Frank LaRose.
New filings rose in the state by 12% over May 2022, but those were still below records set for the month in previous years.
“Our goal is to make Ohio a destination for entrepreneurs,” LaRose said. “While the Biden administration continues to make life harder for small businesses with massive tax hikes and skyrocketing inflation, we’re doing everything we can to break down obstacles to growth here in Ohio.”
LaRose blamed the Biden administration for failing to rein in spending and inflation as the reason for lagging new business numbers this year in April and March, despite record filings in January, February and the first quarter of the year, as previously reported by The Center Square.
The May filing news comes as Columbus Entrepreneur Week opened in the capital city with various events, programs and networking opportunities available for new business owners and startups.
The May 2023 numbers of 16,409 new businesses helped keep the state ahead of last year’s pace by more than 3%, with more than 83,000 new businesses filed so far this year.
At the same time, in 2022, new business filings stood more than 2,500 less.
New business filings are classified as forms filed with the secretary of state that declare the formation of a business entity, including for-profit, nonprofit and professional corporations, limited liability companies, partnerships, limited partnerships and limited liability partnerships. Filing as a business in Ohio does not guarantee the company will begin operations.
