Year-to-date business formations on par with 2012 after 3Q surge

Nearly 1,725 new business entities registered with the Secretary of State’s Business Services Division in the third quarter of 2013, the secretary’s office announced Wednesday. More

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Year-to-date business formations on par with 2012 after 3Q surge

COURTESY OFFICE OF THE SECRETARY OF STATE
SECRETARY OF STATE A. Ralph Mollis' office reported Wednesday that its Business Services Division has processed 5,540 new business filings so far this year, a slight increase over the 2012 figure of 5,525 new filings.
Posted 10/2/13

PROVIDENCE – Nearly 1,725 new business entities registered with the Secretary of State’s Business Services Division in the third quarter of 2013, the secretary’s office announced Wednesday.

The third-quarter figure represents a 2.9 percent increase over the 1,676 new businesses registered during the same period last year.

Year to date, business services has processed 5,540 new filings, up slightly from last year’s total of 5,525 new filings between Jan. 1 and Sept. 30.

“The data confirms that we are maintaining – not losing – new business entities in 2013, and that’s a positive,” said Secretary of State A. Ralph Mollis in a release.

First-quarter new-business filings fell 4 percent this year compared with the same period in 2012, but in July, Mollis’ office reported a 1.9 percent increase over the previous year, the best second quarter for new business filings since the 2008 economic downturn.

The Business Services Division offers resources to start, maintain and grow a business, including forms for business filings, a first-stop business information center, notary public services, authentications, probate forms and trademark protection.

Most newly formed business entities in Rhode Island choose a corporate structure that requires registering with the secretary of state, according to the release. More than 60,000 limited-liability companies and for-profit and nonprofit corporations are currently registered.

For more information about the Secretary of State’s Business Services Division, visit www.sos.ri.gov/business/.

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