COLUMBUS – Ohio Secretary of State Frank LaRose announced 14,765 new business filings in April 2023, down nearly five percent year over year. Despite the decline, business filings remain modestly ahead of the previous year’s pace by 762 filings, reflecting 66,646 total businesses filed in Ohio so far in 2023.
The April decrease comes amid growing concerns nationally about economic conditions, including rising interest rates and the stability of the banking industry. According to the National Federation of Independent Businesses (NFIB), April marked the lowest small business optimism in a decade, with inflation and workforce challenges as their top concerns.
“When job creators see inaction in Washington, business growth suffers,” said Secretary LaRose. “We’ve made Ohio one of the fastest and easiest places to start a business, but the administration in Washington needs to do its part by calming a nervous economy and getting spending and inflation under control. Their current postering over the debt ceiling isn’t helping.”