The U.S. Census Bureau has released the Business Formation Statistics (BFS) for December 2025, offering updated information on new business applications and formations across the United States and Puerto Rico.
According to the Census Bureau, the BFS is a standard data product that provides monthly updates with both seasonally adjusted and unadjusted figures. The dataset includes twelve series: four covering business applications and eight focused on business formations. These statistics are made available at national, regional, and state levels. Additionally, four monthly business application series specific to Puerto Rico are included in each release.
The BFS was developed through collaboration between the Census Bureau and 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.
There is no accompanying news release for this announcement; it was distributed as a tip sheet only.
