The U.S. Census Bureau has published new Business Formation Statistics (BFS) covering September, October, and November 2025. These statistics offer monthly data on business applications and formations in the United States and Puerto Rico.
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 dataset is produced by the Census Bureau in partnership with economists from several organizations, 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, a full BFS dataset is released that includes 12 series—four focused on applications and eight on formations. The data are available for national, regional, and state levels. For Puerto Rico, four monthly business application series are also included as part of the standard release. The statistics are presented both with seasonal adjustments and without them.
There is no formal news release associated with this update; it was distributed as a tip sheet only.
