State seeing surge of new business applications, how everyone benefits
BIRMINGHAM, Ala. (WBRC) - Looking to start a business? Well, get in line. The state is getting thousands of applications to start new businesses, according to the secretary of state, John Merrill.
“Last year we had 13,403 total LLC’s created. This year through the end of July we had 15, 647,” Merrill said.
That’s an increase of 15.88% with four months left in the year.
“COVID has really changed the paradigm for new business creation,” he added.
Economic uncertainty, job loss, and more time at home, Merrill believed, is the reason for the surge in applications.
The federal COVID relief fund may have also played a role.
Some businesses were unable to take advantage of loans and grants because they were not legally registered.
Merrill said new businesses and existing ones getting legitimate benefits from the state as well.
The application costs and taxes from business operations add up.
“It’s easier to create or pay for the fire department. It’s easier to create or pay for the police department. It’s easier to create for new schools, or road enhancements, or infrastructure improvements,” Merrill explained.
Merrill said it also creates new jobs.
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