Business Applications: Total for All NAICS in Maine
BABATOTALSAME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,139.00
Year-over-Year Change
-5.63%
Date Range
7/1/2004 - 6/1/2025
Summary
The 'Business Applications: Total for All NAICS in Maine' trend measures the total number of new business applications filed in the state of Maine. This indicator provides insight into entrepreneurial activity and economic dynamism within the state.
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 metric tracks the total number of new business applications in Maine across all North American Industry Classification System (NAICS) sectors. It is a leading indicator of future business formation and economic growth, as new business applications typically precede actual business start-ups.
Methodology
The data is collected and published by the U.S. Census Bureau.
Historical Context
Policymakers and economists monitor this trend to assess the business climate and entrepreneurial conditions within Maine.
Key Facts
- Maine saw a record high in new business applications in 2021.
- Business applications in Maine grew by 35% from 2019 to 2021.
- The COVID-19 pandemic led to a surge in new business formations nationwide.
FAQs
Q: What does this economic trend measure?
A: The 'Business Applications: Total for All NAICS in Maine' metric tracks the total number of new business applications filed in the state of Maine across all industry sectors.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into entrepreneurial activity and the business climate within Maine, serving as a leading predictor of future economic growth and business formation in the state.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the business environment and entrepreneurial conditions within Maine, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, with the most recent figures typically available within a few months.
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Citation
U.S. Federal Reserve, Business Applications: Total for All NAICS in Maine (BABATOTALSAME), retrieved from FRED.