The U.S. Census Bureau has released updated Business Formation Statistics (BFS) for September, October, and November 2025. The BFS provide data on new business applications and formations across the United States and Puerto Rico.
According to the Census Bureau, “The BFS provide timely and high frequency information on new business applications and formations in the United States and Puerto Rico. The BFS are a standard data product of the Census Bureau, developed in research collaboration with economists affiliated with the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of Atlanta, the University of Maryland, and the University of Notre Dame.”
The full dataset includes twelve series—four related to applications and eight to formations—and is released monthly with statistics available at national, regional, and state levels. Four monthly business application series are also provided specifically for Puerto Rico as part of this standard release. The statistics include both seasonally adjusted and non-seasonally adjusted data.
There is no news release associated with this announcement; it was distributed as a tip sheet only.
