New business formations in Texas jump 15 percent year-over-year

Tom Hinde

Texas Secretary of State Carlos Cascos announced a 15 percent increase in new business formations for the month of May compared to 2015. "The spirit of entrepreneurship is strong in the state of Texas as new businesses are being registerd on a daily basis with my office," said Secretary Cascos. "Entrepreneurs and bunsiness owners are investing in Texas as reflected by the double-digit increase. As I've said before, if you want your business to succeed, Texas is the place to be."

In May 2016, a total of 14,953 mew businesses were created with the Office of the Secretary of State, forming new for-profit corporations, professional corporations, professional associations, limited liability companies and limited partnerships. May 2015 new business totals were 12,994. Figures for non-profit entity formations are not included in these totals.

So far in 2016, a total of 75,941 for-profit entities were created with the Secretary of State's office.