Texas Secretary of State announces 15 percent increase in new business formations in May
Published 10:09 am Monday, June 13, 2016
Special to The Leader
AUSTIN –Secretary of State Carlos Cascos announced a 15 percent increase in new business formations for the month of May compared to 2015.
“The spirit of entrepreneurship is strong in the state of Texas as new businesses are being registered on a daily basis with my office,” said Secretary Cascos. “Entrepreneurs and business owners are investing in Texas as reflected by the double-digit increase. As I’ve said before, if you want your business to succeed, Texas is the place to be.”
In May 2016, a total of 14,953 new businesses were created with the Office of the Secretary of State, forming new for-profit corporations, professional corporations, professional associations, limited liability companies and limited partnerships. This represents a 15 percent increase over May 2015, which saw the formation of 12,994 new for-profit entities. Figures for non-profit entity formations are not included in these totals.
May 2016 numbers also reveal a 0.5 percent increase from April 2016 new business formations.
This is the second month in calendar year 2016 that double-digit growth has been seen in new business formations in the Secretary of State’s Office since February when a 17.83 percent increase was announced.
So far in 2016, a total of 75,941 for-profit entities were created with the Secretary of State’s office.
For more information about forming a business in Texas, visit our website at www.sos.texas.gov or contact the Business and Public Filings Division at 512-463-5555.