The U.S. Census Bureau has released the latest Business Formation Statistics (BFS) for July 2025, providing updated information on new business applications and formations across the United States. The BFS is a regular data product developed by the Census Bureau 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.
The monthly dataset includes 12 series—four focused on applications and eight on formations—with data available at national, regional, and state levels. Both seasonally adjusted and nonseasonally adjusted figures are included in each release.
Additionally, the Census Bureau has introduced Monthly Puerto Rico Business Applications as an experimental data product. This new release features four monthly business application series for Puerto Rico and applies the same methodology used in compiling other BFS statistics.
No separate news release accompanied this announcement; it was distributed as a tip sheet.
