The U.S. Census Bureau has published the latest Business Formation Statistics (BFS) for September, October, and November 2025. The BFS deliver updated data on new business applications and formations across the United States and Puerto Rico.
These statistics are released monthly and include twelve series: four focused on business applications and eight on business formations. Data is provided at the national, regional, and state levels. For Puerto Rico, four monthly business application series are included in the standard release. The BFS offers both seasonally adjusted and unadjusted figures.
The development of the BFS involved research 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.
According to the U.S. Census Bureau: “The BFS provide timely and high frequency information on new business applications and formations in the United States and Puerto Rico.”
No separate news release was issued for this announcement; only a tip sheet was provided.
