New From the U.S. Census: Business Formation Statistics

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.

According to a press release:

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.

Click here to learn more about this new product.

The 2020 Census may seem far off, but the federal agency that manages the constitutionally-mandated decennial population count is in full-on preparation mode. And while county governments aren’t officially responsible for the tally, they do have a vital role to play in helping the U.S. Census Bureau promote a fair and accurate 2020 Census.

At this year’s MACo Summer Conference, Maryland coordinators for the United States Census will join a live recording of the Conduit Street Podcast, as a fast-paced Q&A-style discussion of our “complete count” efforts. Attendees will learn about state and local resources and best practices to promote the most accurate 2020 Census.

The MACo Summer Conference will be held August 14-17, 2019 at the Roland Powell Convention Center in Ocean City, Maryland. This year’s conference theme is “Winds of Change.”

Learn more about MACo’s Summer Conference:

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