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. The BFS is a monthly data product that includes both seasonally adjusted and nonseasonally adjusted statistics for the nation, regions, and states.
Developed through research 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, this dataset tracks trends in entrepreneurship and business creation.
The BFS dataset contains 12 series—four focused on applications and eight on formations—and is intended to offer high-frequency insight into business activity. In addition to national data, regional breakdowns are included.
This month’s release also features Monthly Puerto Rico Business Applications. This experimental product provides four monthly series specific to Puerto Rico and follows the same methodology as the main BFS data.
According to the Census Bureau: “The U.S. Census Bureau today released new Business Formation Statistics (BFS) for July 2025. 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.”
Further details can be found by reviewing official releases from the U.S. Census Bureau.
