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FOR IMMEDIATE RELEASE: Wednesday, June 12, 2024

Business Formation Statistics

CB24-96



Business Applications
Business Applications for May 2024, adjusted for seasonal variation, were 423,945, a decrease of 1.5 percent compared to April 2024.

Business Formations
Projected Business Formations (within 4 quarters) for May 2024, adjusted for seasonal variation, were 27,898, an increase of 0.5 percent compared to April 2024. 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 27,898 new business startups with payroll tax liabilities will form within 4 quarters of application from all the business applications filed during May 2024. The 0.5 percent increase indicates that for May 2024 there will be 0.5 percent more businesses projected to form within 4 quarters of application, compared to the analogous projections for April 2024.

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

CSV File icon   BFS Time Series   [2.463 MB]
Microsoft Excel icon   BFS Publication Table   [13 KB]
CSV File icon   BFS Month Date Table   [11 KB]

Experimental Puerto Rico Business Applications

The Census Bureau has reviewed the monthly Puerto Rico 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-FY24-0098). This experimental product may not meet some of the Census Bureau’s statistical quality standards. We are seeking feedback from data users and stakeholders on the quality and usefulness of this new product. If this product meets our quality standards and demonstrates sufficient user demand, it may enter regular production. Feedback can be shared by email at eid.bfs@census.gov

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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