Firms Are Incorporating at Record Pace

The number of new business incorporations rose 7.5% in the first eight months of 1984 from a year earlier, and it looked as if the number of new incorporations for the full year would surpass the record of 600,400 set in 1983, Dun & Bradstreet Corp. said Tuesday.

In California, new businesses incorporations for the first eight months of 1984 rose 13%.

The business information company said that despite a slight decline in August, the latest month measured, there were 431,228 new businesses incorporated in the first eight months of 1984, up from 401,286 a year earlier.

Joseph W. Duncan, corporate economist and chief statistician for Dun & Bradstreet, said: “The dramatic increase in new incorporations is a direct result of the sharp rise in entrepreneurial activity sparked by the strong economic recovery and expansion during the past two years.”

Vermont Leads Field

New incorporations increased by more than 20% in six states, Dun & Bradstreet said. It said Vermont led the field with a 28.9% increase in new incorporations. Maryland finished second, with an increase of 27.7%, followed by Arkansas, 23.8%; South Carolina, 21.9%; North Dakota, 20.6%, and New Hampshire, 20.2%.

The number of new business incorporations declined in nine states and in Washington, according to the report.