The U.S. Census Bureau has released new Business Formation Statistics (BFS) for the months of September, October, and November 2025. These statistics provide updated data on new business applications and formations in both the United States and 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 and Puerto Rico. 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.”
The full dataset includes twelve different series—four related to applications and eight to formations—and is released monthly. The statistics cover national, regional, and state levels. Additionally, four monthly business application series are published specifically for Puerto Rico as part of this product. Both seasonally adjusted and unadjusted data are available.
There was no accompanying news release with this announcement; only a tip sheet was provided.
