The U.S. Census Bureau has published the latest Business Formation Statistics (BFS) for September, October, and November 2025. The BFS provides up-to-date information 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 dataset includes twelve series—four covering business applications and eight focused on business formations. Data is released monthly at national, regional, and state levels. For Puerto Rico, four monthly business application series are included as part of the standard release. Both seasonally adjusted and non-seasonally adjusted data are available.
There was no news release issued alongside this announcement; it was distributed as a tip sheet only.
