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The close of 2014 predicts good news for the year to come! Delaware’s Division of Corporations recently released news that the year broke a nearly decade-old record for the number of new business formations in the state. How many companies incorporated in Delaware in 2014? Last year there were 169,000 new entities formed, almost four percent more than during the economic boom of 2007. This increase reflects economic growth for the rest of the nation.
“Our numbers are a bellwether of the national economy,” said Deputy Secretary of State Richard J. Geisenberger. “As goes the rest of the country, so goes Delaware.”
As the economy improves, more people venture out to become entrepreneurs, form businesses, and look into incorporating. Delaware set records for the number of businesses formed in eight out of 12 months last year. In fact, there has been a steady increase since 2009. International business is also contributing to the growth, and the state is continuing to work on world- wide outreach. We have noticed the trend of clients from outside of the U.S. wanting to form a Delaware entity and conduct business here in the U.S.; currently 16 percent of our new formations come from non-U.S. clients.
Companies near and far are learning why Delaware is the best state in which to register your company. Delaware has long had the well-deserved reputation as the best place to incorporate. Thousands of start-up companies make the choice each year to join the 69 percent of Fortune 500 companies that are incorporated in Delaware, despite the fact they operate completely or partially in other states or countries. Business leaders all over the world recognize that the state of Delaware has some of the most business-friendly laws and regulations for starting and running a business. The residents of the state of Delaware are grateful for the strong corporate law structure their state has created, because it benefits every resident. Almost 1/3 of Delaware’s income can be attributed to the Division of Corporations.
Since 1981, Harvard Business Services, Inc. has helped more than 120,000 people from the United States and all over the world form Delaware corporations and Delaware LLCs. Based on the record-breaking success of 2014, we see a great reason for optimism in 2015, and look forward to helping many more businesses meet success. For more information, view the recent article in the Delaware News Journal.
THE AUTHOR OF THIS BLOG ARTICLE IS NOT A LAWYER AND HARVARD BUSINESS SERVICES, INC. IS NOT A LAW FIRM. THE ARTICLE ABOVE IS NOT INTENDED AS LEGAL ADVICE AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. THIS SHORT ARTICLE IS STRICTLY TO MENTION SOME ASPECTS OF DELAWARE’S CORPORATION LAWS AND/OR LAWS RELATING TO OTHER FORMS OF ENTITIES WHICH YOU MAY NOT BE FAMILIAR WITH. WE RECOMMEND THAT YOU CONSULT WITH A LAWYER BEFORE FORMULATING A STRATEGY WHICH WILL BE SUITABLE FOR YOUR SPECIFIC CASE.