New business formations up four percent in January 2016
AUSTIN, February 9, 2016 – Today, Texas Secretary of State Carlos Cascos announced 14,281 new business formations were filed in his office in January, a four percent increase compared to last year.
“The increase of new businesses formed in the state reflects a belief that Texas is still a great state for business,” said Secretary Cascos. ”I applaud all the entrepreneurs and business leaders continuing to invest in and grow the Texas economy.”
The 14,281 certificates filed by the Secretary of State formed new Texas for-profit and professional corporations, limited liability companies, limited partnerships and professional associations.
The year-over-year growth for January echoes the overall trend in 2015. Last year, a total of 165,026 businesses were formed in the State of Texas, an almost 5 percent increase from 2014.
The bulk of new formations for 2015 were limited liability companies with a total of 135,250 certificates of formation filed, about 82 percent.