Business Applications: Total for All NAICS in Maryland
BABATOTALSAMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,863.00
Year-over-Year Change
15.67%
Date Range
7/1/2004 - 6/1/2025
Summary
The 'Business Applications: Total for All NAICS in Maryland' measures the number of new business applications in Maryland across all industry sectors. This metric is closely watched by economists and policymakers as an indicator of entrepreneurial activity and economic dynamism.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the total number of new business applications filed with the Internal Revenue Service (IRS) in the state of Maryland. It provides insights into the level of entrepreneurial energy and confidence in the state's economy.
Methodology
The data is collected by the U.S. Census Bureau through administrative records of new business applications.
Historical Context
Policymakers use this metric to assess the health of Maryland's small business environment and inform decisions on economic development initiatives.
Key Facts
- Maryland had over 180,000 new business applications in 2022.
- Business applications in Maryland grew by 10% in 2021 compared to the previous year.
- The 'Business Applications' metric is a leading indicator of future economic activity.
FAQs
Q: What does this economic trend measure?
A: The 'Business Applications: Total for All NAICS in Maryland' metric tracks the number of new business applications filed with the IRS in the state of Maryland across all industry sectors.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of entrepreneurial activity and economic dynamism in Maryland, providing insights into the health of the state's small business environment.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through administrative records of new business applications.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the state of Maryland's small business ecosystem and inform decisions on economic development initiatives and support for entrepreneurship.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month lag, and may be subject to revisions as new information becomes available.
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Citation
U.S. Federal Reserve, Business Applications: Total for All NAICS in Maryland (BABATOTALSAMD), retrieved from FRED.