The U.S. Census Bureau has published 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 monthly release that includes both seasonally and nonseasonally adjusted data at the national, regional, and state levels.
Developed through research collaboration with 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—the BFS provides high-frequency insights into business activity.
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.”
This month’s release also features Monthly Puerto Rico Business Applications as an experimental product. This dataset offers four monthly business application series for Puerto Rico using methodologies consistent with those applied to existing BFS releases.
The full dataset contains 12 different series—four related to applications and eight to formations—and is made available each month by the Census Bureau.
There was no accompanying news release; this announcement was distributed as a tip sheet only.
