The U.S. Census Bureau has published the latest Business Formation Statistics (BFS) for September, October, and November 2025. The BFS offers monthly updates 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.”
Each month, the full BFS dataset is released, which includes twelve different series—four focused on applications and eight on formations. These statistics are available at national, regional, and state levels. Additionally, four monthly business application series specific to Puerto Rico are part of this release. Both seasonally adjusted and unadjusted data are provided as part of these releases.
There is no accompanying news release; this update is distributed as a tip sheet only.
