The U.S. Census Bureau has released the Business Formation Statistics (BFS) for July 2025, offering updated data on new business applications and formations across the United States. The BFS is a monthly data product that provides information at the national, regional, and state levels, with both seasonally and nonseasonally adjusted figures.
This statistical release is the result of collaboration between the Census Bureau and 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 announcement: “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.”
In addition to its regular dataset—which consists of twelve series covering four application types and eight formation types—the Census Bureau has also released Monthly Puerto Rico Business Applications. This experimental product includes four monthly business application series for Puerto Rico and applies a methodology consistent with that used for other BFS releases.
No separate news release was issued in connection with this announcement; it was distributed as a tip sheet only.
