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The U.S. Census Bureau is updating its economic indicator release calendar in coordination with other agencies and the Office of Management and Budget to address the impacts of the recent lapse in federal funding. We will provide the updated release schedule as soon as it becomes available. For more information, see Census' Recovery Plan for Principal Federal Economic Indicators.

The September 2025 release, originally scheduled for October 8, 2025, and the October 2025 release, originally scheduled for November 13, 2025 for the Business Formation Statistics report will be published with the November 2025 release on December 12, 2025. For more information, see the Economic Indicators Release Schedule.

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FOR IMMEDIATE RELEASE: Friday, December 12, 2025

Business Formation Statistics

CB25-164



Business Applications
Business Applications for November 2025, adjusted for seasonal variation, were 535,041, an increase of 7.1 percent compared to October 2025.

Business Formations
Projected Business Formations (within 4 quarters) for November 2025, adjusted for seasonal variation, were 31,434, an increase of 6.2 percent compared to October 2025. 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 31,434 new business startups with payroll tax liabilities will form within 4 quarters of application from all the business applications filed during November 2025. The 6.2 percent increase indicates that for November 2025 there will be 6.2 percent more businesses projected to form within 4 quarters of application, compared to the analogous projections for October 2025.

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-FY25-0219).

Additional Release Files

Monthly Puerto Rico Business Applications are no longer a separate experimental data product and are part of the Monthly standard data product.

CSV File icon   BFS Time Series   [2.644 MB]
Microsoft Excel icon   BFS Publication Table   [13 KB]
CSV File icon   BFS Month Date Table   [13 KB]

Contact

Data Inquiries
Economic Indicators Division
Business Formation Statistics
301-763-2000
[email protected]

Media Inquiries
Public Information Office
301-763-3030
[email protected]

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