Business filings in Minnesota up for fifth straight month

Minnesota Secretary of State Mark Ritchie announced today that new business filings for 2012 are up for the fifth straight month compared to the previous year.

“This is more good news that new filings by Minnesota businesses continue to run ahead of 2011,” said Ritchie. “Filings in the first five months of 2012 are up by 17 percent over the previous year.”

Secretary of State Ritchie also noted that 805 new businesses located outside the state incorporated their businesses in Minnesota during the first five months of this year, a 3.2 percent increase over the same period last year. More businesses outside of our state are taking advantage of Minnesota’s business-friendly climate and the ease of filing online on the Secretary of State’s new web-based filing system.

Overall new business filings for the month of May show a 7.8 percent increase when compared to the previous year. Limited Liability Company (LLC) filings, the most common legal structure for new business in Minnesota, increased by 8 percent over the same period a year ago.

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