- July 9, 2021
- Posted by: Stratford Team
- Category: Business
(KNSI) – New business filings are up amid the COVID-19 pandemic in the St. Cloud area and across Minnesota.
In 2020, the Minnesota Secretary of State’s office recorded 47,464 new business filings for limited liability companies in the state, a 15 percent increase over LLCs filed in 2019. Between January and May 2021, Minnesotans filed 26,413 new LLCs, a 47 percent increase above the number of LLCs filed in that same five-month span in 2019.
Luke Greiner, a regional labor market analyst for the Minnesota Department of Employment and Economic Development, says that in Region 7W (Benton, Sherburne, Stearns and Wright counties), 3,317 new business filings were made 2020, a 13.1 percent increase from 2019.
This year, Minnesotans have also submitted new business filings for 2,385 business corporations, 1,229 nonprofit corporations and 274 limited liability partnerships.
However, just because someone has filed an application for a new business does…