DECEMBER 12, 2025 — The U.S. Census Bureau today released new Business Formation Statistics (BFS) for September, October, November 2025. 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 BFS dataset with all 12 series (four application and eight formation) is released monthly with statistics for the nation, region and states. Four monthly business applications series are released for Puerto Rico as part of the standard monthly BFS product.  BFS includes seasonally and not seasonally adjusted data.

No news release associated with this announcement. Tip sheet only.

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