Is Ohio a good state to do business in?
According to official filing data, the answer is a resounding “yes.”
In fact, the Ohio Secretary of State’s office recently announced that it received more than 10,000 registrations from new commercial entities during the month of January. That equates on average to nearly 30 every day of the week.
Even though that number by itself reasonably suggests a receptive climate for entrepreneurs to explore and potentially profit in, it looks even better when considered alongside relevant information over a longer period.
To wit, and as noted last week in one online media source: last year marked “the eighth consecutive year the state has seen a record number of new entities filing to do business in Ohio.”
The factors underlying that strong business activity are of course many and varied. Ohio has a strong and educated work force. The state is home for companies that compete in diverse markets and industries. Supportive infrastructure is strong and apparent. Ohio is a central hub nationally for the transport of goods.
Business principals appreciate that collective mix of attributes. The above article notes that their enthusiasm has resulted in a nearly 50% increase in new business registrations from 2010 to 2017.
Of course, seeking to do business in Ohio does not guarantee ultimate success, which is a point that Ohio regulators are quick to point out.
A business’s close relationship with an established Ohio commercial law firm can materially up the odds on obtaining that goal, though. Proven business attorneys can assist company owners and entrepreneurs with their needs across a wide universe of concerns. Those range from entity formation and key contract negotiation/drafting to risk-management advice and, when necessary, strong litigation representation.