Research Resources: Census Bureau Debuts New Datasets: Business Formation Statistics
From the U.S. Census:
The Census Bureau released the Business Formation Statistics (BFS), a new data product that tracks trends in business applications and formations at the state, regional and national levels.
The BFS consists of four business application series and eight business formation series. It’s unique because it relies on administrative data from the IRS, specifically the data on applications for an Employer Identification Number (EIN) via IRS Form SS-4, to determine the number of business applications submitted in a quarter, and how many result in businesses with employees. The BFS also includes projections for business formations in the near future.
The BFS began in 2012 as a research project in the Census Bureau’s Center for Economic Studies and was first released in beta form in February 2018. It’s the culmination of research efforts by the Census Bureau, Board of Governors of the Federal Reserve System, Federal Reserve Bank of Atlanta, University of Maryland and the University of Notre Dame.
Direct to Business Formation Datasets (BFS)
About Gary Price
Gary Price (firstname.lastname@example.org) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com.