NC breaks records for new companies with 129,000+ so far this year

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RALEIGH – Entrepreneurs in North Carolina continue to create new businesses and set an annual record of more than 129,000. And most of these businesses are not launched due to job loss.

This is what North Carolina Secretary of State Elaine Marshall reports.

And that record amount comes with almost four months left this year. Marshall plans for new companies to top 180,000 this year.

“North Carolina is continuing its terrible pace of new business creation during this new era of entrepreneurship,” Marshall said in a statement. “The Secretary of State’s office has introduced additional technology solutions to reduce customer errors in online notifications to speed up a new business’s efforts to get started.”

As of September 13, Marshall’s offices had received and processed 2,000 more than the previous record of 127,000 new companies formed in 2020. That number was an increase of 27% compared to 2019.

NC Secretary of State, graphics,

More than 8 out of 10 respondents in a survey told the Foreign Office’s office that they started a business to take advantage of an opportunity.

“Our survey results point to a new era of entrepreneurship, with 81% of respondents indicating that they started their businesses in search of new opportunities, while only 12% report starting their new businesses as a result of job losses during the pandemic,” said Marshall in a July report.

But information about what types of companies and how many jobs can be created is difficult to determine right now, says a spokesman for Marshall. More information will be available when the new companies submit annual reports.

In the July survey, Marshall’s offices reported that 89% of the new companies remained a year earlier. Of these, 22% reported having three or more employees.

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