Exploring New Business Formations and Applications in the United States: Insights from the U.S. Census Bureau’s Latest Business Formation Statistics and Puerto Rico Data

The U.S. Census Bureau has just released the latest Business Formation Statistics (BFS) for April 2024, providing valuable insights into new business applications and formations within the United States. The BFS was developed in collaboration with economists from various institutions, including the Federal Reserve System and several universities, and offers up-to-date and frequent information on the business landscape in the country.

The BFS dataset comprises 12 series, including four application and eight formation categories, and is published monthly for the nation, regions, and states. This data provides a comprehensive overview of business trends and developments across the country. It is available in both seasonally and nonseasonally adjusted formats, making it easy to analyze trends over time.

In addition to the BFS report, the U.S. Census Bureau also released the Monthly Puerto Rico Business Applications dataset, providing similar insights into business activities in Puerto Rico. This experimental data product includes four monthly business applications series and follows the same methodology as the BFS, offering a comparative analysis of business trends between Puerto Rico and the mainland United States.

This announcement serves as a tip sheet for those interested in exploring the latest BFS and Puerto Rico Business Applications data. With these datasets, researchers can gain valuable insights into new business formations and applications across the country, helping them make informed decisions about economic policies and strategies.