NEW: Mollis Releases Third Quarter Data on New Business Creation
Thursday, October 18, 2012
The number of new business entities created from July through September grew for the first time since 2007, ending four consecutive years of decline in the third quarter, according to data released today by Secretary of State A. Ralph Mollis.
For the period, 1,676 new business entities registered with the Secretary of State’s office. That is up nearly 9.5 percent compared to the 1,531 reported a year ago. A jump in the number of Rhode Island-based limited liability companies being created accounted for the majority of the increase.
The latest results come after the state saw new business formations rise a modest 2.5 percent in the second quarter -- when 1,873 new business entities registered with the Secretary of State’s office – compared to the same quarter a year ago. But, through three quarters of 2012, the state is poised to have its first back-to-back years of growth since 2006 and 2007.
Most newly formed business entities in Rhode Island choose a corporate structure that requires registering with the Secretary of State. More than 60,000 limited liability companies and for-profit and non-profit corporations are currently registered.
Through his First Stop Business Information Center, Mollis helps new businesses apply for financing, obtain permits and connect with government agencies. 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.
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. For more information about the programs and services the Secretary of State offers Rhode Islanders, visit sos.ri.gov.
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Comments:
pearl fanch
3:27pm on Thursday, October 18, 2012
This is ridiculous.
An analogy would be if I bought the stock of Facebook at it’s original price of $40 a share, and watched it go down $5 per share every week for the past four weeks. It would now be worth $20 per share.
Now tomorrow, if that stock goes up to $21 per share, I DID NOT MAKE A PROFIT. I’m still down $19 per share. THIS IS NOT A GOOD THING!!!!
It’s so frustrating when various political offices spin numbers every possible way, and then put out a public statement trying to show a positive. Then the media, always looking for the scoop, jumps all over it without digging into the numbers.
When we’ll these people ever learn.