COLUMBUS — Ohio Secretary of State Jon Husted has announced that 2015 marked the sixth consecutive year the state has seen a record number of new entities filing to do business in Ohio.
In 2015, 97,746 new businesses registered with the Secretary of State’s office, surpassing the record set in 2014 of 93,775 new entities by 3,971 businesses.
“We’re offering better customer service at a lower cost, which is just one of the many things that are helping to make Ohio a more attractive place to invest resources and hire workers,” Husted said.
At Husted’s urging, the state legislature reduced the cost of starting a new business in Ohio by 21 percent in 2015. Now just $99, Ohio is the least expensive state in which to start and maintain a business in the region. The reduction is estimated to save business owners $2 million annually.
Not only are more companies registering to do business in the state, but also fewer entities are receiving rejected applications. Just 24,671 applications were rejected in 2015, a 24.4 percent decrease from the 32,655 applications that were turned away in 2010.
Business filings are most commonly rejected because the filer has not met all of the legal requirements. The new, online form instituted by Husted will alert a filer of mistakes or omissions before it is submitted, increasing the odds that the application is processed correctly on the first attempt.
“A record number of entrepreneurs are filing to do business in Ohio and far fewer of them are being held up by burdensome paperwork,” Husted said. “It’s pretty simple: we’ve used technology to cut the red tape and more businesses have chosen to do business with us. If we have more businesses, we have more jobs and that’s good for Ohio.”