The U.S. Census Bureau has released updated Business Formation Statistics (BFS) covering September, October, and November 2025. The BFS provide regular 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.” These statistics are part of a standard data product developed by the agency in collaboration 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 published with twelve series: four related to business applications and eight concerning business formations. The release includes both seasonally adjusted and unadjusted data for national, regional, and state levels. Additionally, four monthly business application series are provided specifically for Puerto Rico as part of this standard product.
There was no separate news release issued alongside this announcement; only a tip sheet was made available.
