The U.S. Census Bureau has released the Business Formation Statistics (BFS) for July 2025, providing updated information on new business applications and formations across the United States. Developed in 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, these statistics are designed to offer timely data for policymakers and researchers.
According to the 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.”
Each month, a comprehensive dataset is released that covers all 12 series—four related to applications and eight to formations—on both seasonally adjusted and nonseasonally adjusted bases. Data is available at national, regional, and state levels.
Additionally, for July 2025, the Census Bureau has published Monthly Puerto Rico Business Applications as an experimental product. This release applies established BFS methodology to four monthly business application series specifically for Puerto Rico.
No formal news release accompanied this announcement; it was issued as a tip sheet only.
