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Rhode Island Secretary of State Releases Second Quarter Data for New Business Creation

Number of New Businesses Registering with the Secretary of State's Office Increases

PROVIDENCE, RI -- The number of new business entities created in the second quarter of 2014 rose compared to the first quarter of 2014, as well as a year ago, according to data released today by the office of Secretary of State A. Ralph Mollis.

The second quarter of 2014 is up 6.91% from the second quarter of 2013.

From April 1, 2014 to June 30, 2014, 2,041 new business entities registered with the Secretary of State's office; this is up over 6.91% compared to the second quarter of 2013, when 1,909 registered. In the second quarter of 2012, 1,976 new business entities registered.

"The second quarter numbers for 2014 shows the economy here in Rhode Island is steadily recovering, and things are looking brighter for entrepreneurs and small businesses. The data shows Rhode Islanders are optimistic in Rhode Island's long-term potential, and are not hesitating to place business roots right here in Rhode Island, where they are confident they can grow and be successful," said Mollis.

Mollis tracks quarterly business filings because most newly formed business entities in Rhode Island choose a corporate structure that requires registering with his office. More than 70,000 limited liability companies and for-profit and non-profit corporations are currently registered.

In addition to its work with start-ups, the Secretary of State's office also oversees recording commercial liens, registering notaries public and protecting corporate trademarks. The Secretary of State's office also offers free workshops, both in English and Spanish to business owners to help them start, grow, manage and market their businesses.

For more information about the programs and services offered to Rhode Islanders by the Secretary of State's office, please view our Video: CORPORATIONS and visit our website at www.sos.ri.gov

Secretary of State Mollis is committed to making it easier for Rhode Islanders to vote, making it easier to do business in Rhode Island and making government more open and accessible.

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Related links

Department or agency: Office of the Secretary of State

Online: http://www.sos.ri.gov/

Release date: 07-01-2014

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