The U.S. Census Bureau has released the latest Business Formation Statistics (BFS) for August 2025. The BFS provide monthly data on new business applications and formations across the United States, offering both seasonally and nonseasonally adjusted figures at national, regional, and state levels.
This data product is a 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.
In addition to the main BFS dataset, which includes 12 series covering four application types and eight formation types, the Census Bureau also published Monthly Puerto Rico Business Applications. This experimental dataset uses the same methodology as the main BFS to track business applications in Puerto Rico.
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.”
No separate news release was issued alongside this announcement; it was distributed as a tip sheet only.
