The U.S. Census Bureau has released the latest Business Formation Statistics (BFS) for July 2025, offering updated information on new business applications and formations across the United States. The BFS are a regular data product from the Census Bureau, created in partnership 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 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, all 12 series—four application series and eight formation series—are published with statistics available at national, regional, and state levels. Both seasonally adjusted and nonseasonally adjusted data are included.
In addition to its standard release for July 2025, the Census Bureau has also published Monthly Puerto Rico Business Applications. This experimental dataset features four monthly business application series for Puerto Rico using methods consistent with those applied to other BFS releases.
No separate news release accompanied this announcement; it was distributed as a tip sheet only.
