The U.S. Census Bureau has published the latest Business Formation Statistics (BFS) for December 2025, offering updated information on new business applications and formations across the United States and Puerto Rico.
The BFS is a regular data product from the Census Bureau, created 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 Census Bureau, “The BFS provide timely and high frequency information on new business applications and formations in the United States and Puerto Rico. The BFS are a standard data product of the Census Bureau, developed in research collaboration with economists affiliated with 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, all 12 series—four related to applications and eight to formations—are released for national, regional, and state levels. Additionally, four monthly business application series are available for Puerto Rico as part of this standard release. The statistics include both seasonally adjusted and unadjusted data.
There was no separate news release accompanying this announcement; only a tip sheet was provided.
