The U.S. Census Bureau has released updated Business Formation Statistics (BFS) covering September, October, and November 2025. The BFS offers monthly data on new business applications and formations across the United States and Puerto Rico.
This data product is produced by the Census Bureau in partnership 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 announcement, “The BFS provide timely and high frequency information on new business applications and formations in the United States and Puerto Rico.” The release includes all 12 BFS series—four related to business applications and eight concerning business formations—at national, regional, and state levels. Additionally, four monthly business application series are available for Puerto Rico as part of this standard product. Both seasonally adjusted and unadjusted figures are included.
No additional news release was issued with this update; it was distributed as a tip sheet only.
