Excerpt: “Business Applications Business Applications for February 2025, adjusted for seasonal variation, were 423,144, an increase of 7.8 percent compared to January 2025. Business Formations Projected Business Formations (within 4 quarters) for February 2025, adjusted for seasonal variation, were 27,090, an increase of 10.2 percent compared to January 2025. The projected business formations are forward looking, providing an estimate of the number of new business startups that will appear from the cohort of business applications in a given month. It does not provide an estimate of the total number of business startups that appeared within a specific month. In other words, the Census Bureau is projecting that 27,090 new business startups with payroll tax liabilities will form within 4 quarters of application from all the business applications filed during February 2025. The 10.2 percent increase indicates that for February 2025 there will be 10.2 percent more businesses projected to form within 4 quarters of application, compared to the analogous projections for January 2025.”
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