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FOR IMMEDIATE RELEASE: Wednesday, February 14, 2024

Business Formation Statistics

CB24-27



Business Applications
Business Applications for January 2024, adjusted for seasonal variation, were 450,078, a decrease of 1.3 percent compared to December 2023.

Business Formations
Projected Business Formations (within 4 quarters) for January 2024, adjusted for seasonal variation, were 29,047, a decrease of 4.3 percent compared to December 2023. The projected business formations are forward looking, providing an estimate of the number of new business startups that will appear from the cohort of business applications in a given month. It does not provide an estimate of the total number of business startups that appeared within a specific month. In other words, the Census Bureau is projecting that 29,047 new business startups with payroll tax liabilities will form within 4 quarters of application from all the business applications filed during January 2024. The 4.3 percent decrease indicates that for January 2024 there will be 4.3 percent fewer businesses projected to form within 4 quarters of application, compared to the analogous projections for December 2023.

Z = absolute value < 0.05.

The Census Bureau has reviewed the monthly data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Project No. P-7515311, Disclosure Review Board (DRB) approval number: CBDRB-FY24-0150).

Additional Release Files

Contact


Data Inquiries
Economic Indicators Division
Business Formation Statistics
301-763-2000
eid.bfs@census.gov

Media Inquiries
Public Information Office
301-763-3030
pio@census.gov
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