May 14, 2012

Registered Business Entities Down in Wisconsin at DFI

Scott Walker's extravagant promise to create 250,000 jobs and 10,000 new businesses is a broken promise.

As one indicator among many, new Department of Financial Institutions (DFI) data does nothing to promote Walker's making good on his promises.

Data at the Department of Financial Institutions (DFI) show a new loss in business entities registered at DFI. (Umhoefer, MJS)

Business law attorneys advise that the liability shields in business entities that register with the DFI—such as service corporations and limited liability companies (LLCs)—are attractive to the formation of new businesses, thus the statistic of a net loss of new businesses registered at the DFI is a negative sign for Scott Walker's grand promise of a new economy "open for business," as coupled with Wisconsin's job loss leading the nation.

Many business entities are registered at DFI for purposes other than the immediate start-up of a new business, such as registering the name of a new entity for future concerns that would not interfere or conflict with existing business interests.

Turns out targeting the working class, local communities and education is not the boon for business that Walker says.

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