Texas sees increases in new business creation

AUSTIN, April 8, 2016 - Today, Texas Secretary of State Carlos Cascos announced a 9.9 percent increase in the number of new, for-profit businesses created through his agency in March compared to the same month last year. This number is comparable with the 10.5 percent first-quarter growth compared to 2015.

“Our office not only saw growth in new businesses created in March, but we also see a continued trend of increased business formations,” said Secretary Cascos.

In March 2016, 16,511 certificates were filed with the Secretary of State creating new Texas for-profit corporations, professional corporations, professional associations, limited liability companies and limited partnerships. This is almost 1,500 more entities created than in March 2015, which saw the formation of 15,023 new Texas for-profit business entities. The March 2016 numbers also reflect a 7.7 percent increase from February 2016 filings of for-profit business formation totals.

The end of March is also the end of the first quarter of calendar year 2016. In the first three months of 2016, the Secretary of State’s office accepted a total of 46,117 certificates creating new Texas for-profit corporations, professional corporations, professional associations, limited liability companies and limited partnerships. This represents a 10.5 percent increase compared to 2015. In the first quarter of 2015, the Secretary of State accepted a total of 41,700 certificates of formation creating for-profit corporations, professional corporations, professional associations, limited liability companies and limited partnerships.

 

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