The U.S. Census Bureau has released the latest Business Formation Statistics (BFS) for July 2025, offering updated data on new business applications and formations across the United States. The BFS is a standard monthly data product from the Census Bureau, created 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.
According to the Census Bureau, “The BFS provide timely and high frequency information on new business applications and formations in the United States.” The dataset includes twelve different series—four related to applications and eight focused on actual business formations. These statistics are available at national, regional, and state levels. Both seasonally adjusted and nonseasonally adjusted figures are provided.
Additionally, this release features Monthly Puerto Rico Business Applications as an experimental data product. This addition presents four monthly series for Puerto Rico using the same methodology as existing BFS releases.
No news release was issued alongside this announcement; it was distributed as a tip sheet only.
