FOURTH QUARTER AND YEAR-END TOTALS FOR NEW BUSINESS ENTITY CREATIONS RELEASED

Fourth Quarter Data for New Business Entity Creations Released:

PROVIDENCE, RI – Nearly 1,616 new business entities registered with the Secretary of State’s Business Services Division for the fourth quarter, which runs between October 1st through December 31st, 2013.

From January 1 through December 31st, 2013, there were a total of 7,199 new entity filings processed by the Business Services Division. That’s an increase of 1.015% from last year’s year-end totals.

I am pleased to see that we are continuing to grow new business opportunities here in Rhode Island. This is positive news for our business community.

In 2007, our office implemented an online filing system designed to improve customer experience and make the process more efficient. As of year end 2013, 58% of all annual report filings were filed electronically, as opposed to a paper filing. 

Most newly formed business entities in Rhode Island choose a corporate structure that requires registering with the Secretary of State. More than 70,000 limited liability companies and for-profit and non-profit corporations are currently registered.

Our Business Services Division also works with start-ups and oversees recording commercial liens, registering notaries public and protecting corporate trademarks.

I am 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 our office provides Rhode Islanders, please visit www.sos.ri.gov