The U.S. Census Bureau has released the latest Business Formation Statistics (BFS) for July 2025, providing updated data on new business applications and formations across the United States. The BFS offers monthly statistics at the national, regional, and state levels, covering both seasonally adjusted and nonseasonally adjusted figures.
Developed through collaboration with economists from 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, this data product includes a total of 12 series—four focused on applications and eight on formations.
In addition to the national release, the Census Bureau has published Monthly Puerto Rico Business Applications. This experimental dataset tracks four monthly business application series for Puerto Rico using methodology consistent with that used in compiling U.S. BFS data.
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. 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.”
No formal news release accompanied this announcement; it was distributed as a tip sheet only.
