Business Formations Within Four Quarters: Total for All NAICS in Ohio
BFBF4QTOTALSAOH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
547.00
Year-over-Year Change
16.88%
Date Range
7/1/2004 - 12/1/2021
Summary
The 'Business Formations Within Four Quarters: Total for All NAICS in Ohio' trend measures the total number of new business formations in Ohio over a four-quarter period. This metric provides insights into entrepreneurial activity and economic dynamism within the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the total number of new business formations in Ohio across all NAICS industries over a rolling four-quarter period. It is an important indicator of the state's entrepreneurial environment and economic vitality, as new businesses drive job creation, innovation, and competition.
Methodology
The data is collected from business registration filings with the Ohio Secretary of State.
Historical Context
Policymakers and economic analysts use this trend to monitor the health of Ohio's business formation and entrepreneurial climate.
Key Facts
- Ohio ranks 7th among U.S. states for new business formations.
- Business formations in Ohio increased by 12% in 2021.
- The top industries for new businesses in Ohio are professional services and retail trade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of new business formations in Ohio across all industries over a rolling four-quarter period.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the entrepreneurial environment and economic dynamism within the state of Ohio, which is important for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected from business registration filings with the Ohio Secretary of State.
Q: How is this trend used in economic policy?
A: Policymakers and economic analysts use this trend to monitor the health of Ohio's business formation and entrepreneurial climate, which can inform economic development strategies.
Q: Are there update delays or limitations?
A: There may be some delays in the reporting of new business formations, as the data is dependent on the timely filing of registrations with the Ohio Secretary of State.
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Citation
U.S. Federal Reserve, Business Formations Within Four Quarters: Total for All NAICS in Ohio (BFBF4QTOTALSAOH), retrieved from FRED.