The U.S. Census Bureau has published updated Business Formation Statistics (BFS) for the months of September, October, and November 2025. The BFS provide data on new business applications and formations across the United States and Puerto Rico.
These statistics are produced 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 monthly release includes a comprehensive dataset with 12 series—four tracking business applications and eight covering formations—available at national, regional, and state levels. For Puerto Rico, four monthly business application series are included as part of the standard BFS product. Both seasonally adjusted and non-seasonally adjusted data are made available.
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 and Puerto Rico.”
No separate news release was issued for this announcement; it was distributed as a tip sheet only.
