In early February, the office of Ohio State Secretary John Husted released the year-over-year business filing figures for January 2016. According to this statement, 2015 continues a strong streak within the state, as an increasing number of business entities file for transactions with this state. Since 2010, each year has seen a new record number of filings, with a 21.8 percent increase during this period as a whole. More than 80 percent of these filings can be done online now, as well.
“More than 80 percent of business filings can be done online now.”
According to the statement, 8,624 new business entities submitted filings this January, nearly 15 percent higher than 2014’s numbers. This follows September’s cost cuts that reduced the expenses associated with starting a new business by more than 20 percent.
While simply filing as a business isn’t a guarantee that the enterprise will flourish in the state, it is a possible sign that more heads of business are forming entities and encouraging the local economy.
Data from the Bureau of Labor Statistics also shows some positive trends over the final quarter of 2015. Employment rose continuously between July and December, with total nonfarm wage and salary employment on a consistent rise. Some specific job categories, such as the “professional & business” or “education & health” services sectors, saw relatively minor but significant jumps in employment numbers.
These figures may show an encouraging picture of the local economy, both for business partners who have worked in Ohio before and those looking to start a brand new venture. Businesses can research how to get SBA loan resources and use professional help to determine whether or not they qualify for the most prominent loans. SBA grants can apply to a range of different possible uses.
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