The U.S. Census Bureau has published the latest Business Formation Statistics (BFS) for September, October, and November 2025. These statistics offer up-to-date information on new business applications and formations across 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 data is released monthly as a standard product of the agency, developed in collaboration with economists from several institutions including 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.
Each month, the full BFS dataset includes 12 series—four covering business applications and eight focused on business formations—with details available at national, regional, and state levels. For Puerto Rico specifically, four monthly business application series are included as part of this release. The BFS presents both seasonally adjusted and unadjusted figures.
There was no formal news release issued alongside this announcement; only a tip sheet was provided.
