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March saw a lot of new entity filings in Ohio

On Behalf of | Mar 23, 2017 | Business Law

It appears that Ohio has seen a fair amount of startup activity so far this year.

According to recent data from the state’s Secretary of State’s office, 12,827 new businesses submitted business filings this March here in Ohio. This is the highest new filing total of any month that the Secretary of State’s office has records on. It was also significantly higher than the total from March of last year, topping it by 22.4 percent.

The March numbers reflect a general trend the start of 2017 has seen in Ohio, a higher pace of new entity filings than was the case in the front end of 2016. The filing total for 2017’s first three months was 16 percent higher than that from the opening three months of 2016.

Ohio currently being on pace to see more new business filings this year than it did last year is particularly significant given that last year’s overall total was a record high.

So, it seems there are a lot of businesses here in Ohio that are just getting their start. What type of entity a business owner picks for their startup and how they handle any business filing issues related to this choice can have considerable impacts. But, it is far from the only important legal issue that arises for startups. Other things that can matter considerably for startups are how tax issues and issues related to getting the business’ operations set up are handled. So, guidance from a business lawyer who can help with the wide range of legal issues that come up in connection to setting up a new business is something a startup owner may find quite beneficial to have.

Source: Crain’s Cleveland Business, “Filings for new-business entities rose sharply in Ohio last month,” April 14, 2017