The U.S. Census Bureau has released updated Business Formation Statistics (BFS) for September, October, and November 2025. These statistics offer current information about new business applications and formations across the United States and Puerto Rico.
The BFS is a regular data product from the Census Bureau. It was developed in partnership with economists from several institutions, including 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.
Each month, the full BFS dataset is made available. This includes twelve series: four related to business applications and eight concerning business formations. The data is broken down by nation, region, and state. For Puerto Rico, four monthly business application series are included as part of the standard release. Both seasonally adjusted and non-seasonally adjusted figures are provided.
There was no formal news release issued alongside this announcement; only a tip sheet was made available.
