Texas’ new business growth strong in 2014
AUSTIN, January 19, 2015 - Texas Secretary of State Nandita Berry released numbers today showing double-digit growth for new Texas businesses in 2014.
“Texas continues to show strong economic performance year after year,” said Secretary Berry. “That performance can be seen not only in employment numbers or tax receipts, but also in the high number of businesses formations filed with the secretary of state’s office each year.”
In 2014, the Texas Secretary of State’s office received filings for 157,225 new businesses. This is an 11.69 percent increase compared to 2013. In fact, the state has seen consistent year-over-year growth in the number of business filings for the last five years.
The number of new business filings includes for-profit corporations, professional corporations, professional associations, limited liability companies, and limited partnerships. Limited liability companies make up the bulk of the new filings with 126,085 formed.
“It takes a certain optimism to start a new business, and this increase in business formations in Texas shows that investors and entrepreneurs believe Texas is a state wide open for business,” said Secretary Berry.