Ohio New Business Creation Grows by 12%

  • 83,055 total businesses filed so far in 2023

Ohio Secretary of State Frank LaRose has announced 16,409 new business filings in May 2023, up 12 percent from May of last year. Although still below prior record-setting years, Ohio business filings remain ahead of the previous year’s pace by more than three percent, reflecting 83,055 total businesses filed so far in 2023.

“Our goal is to make Ohio a destination for entrepreneurs,” said Secretary LaRose.

“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.”

According to the NFIB, small business optimism has tracked for the past 17 months at its lowest level in nearly 50 years, and inflation remains the single largest problem facing small businesses.

Secretary LaRose said Ohio’s business climate has been strengthened in the following ways:

  • Through streamlining certifications for minority, women, and veteran-owned businesses and modernizing the process for limited liability companies (LLCs) to incorporate in Ohio, Secretary LaRose continues to work to simplify the process for starting a business in the Buckeye State.
  • Expanded the Ohio Business Resource Connection, a compilation of private and public resources available to assist businesses.
  • Hosted dozens of roundtables throughout the state with community, legislative and business leaders to spread the word about the resources available for entrepreneurs looking to start or grow their businesses.

“Secretary LaRose is currently working with the legislature to pass legislation to protect Ohio businesses from business identity theft and other business-related fraud.”

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Deba Uwadiae
Deba Uwadiae is a Nigeran American international journalist, Editor-In-Chief and publisher of the New Americans Magazines, Columbus, Ohio, United States. He has reported events and stories from different countries in Africa, Europe, Asia and North America.

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