Business Formations Within Four Quarters: Total for All NAICS in District of Columbia
BFBF4QTOTALNSADC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50.00
Year-over-Year Change
42.86%
Date Range
7/1/2004 - 12/1/2021
Summary
The 'Business Formations Within Four Quarters: Total for All NAICS in District of Columbia' series tracks the total number of new business formations within a four-quarter period in the District of Columbia. This metric is a key indicator of entrepreneurial activity and economic dynamism in the region.
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 measures the total number of new business formations within a four-quarter period in the District of Columbia. It covers all North American Industry Classification System (NAICS) codes, providing a comprehensive view of new business creation across different sectors. Economists and policymakers closely monitor this indicator to gauge the District's entrepreneurial climate and broader economic health.
Methodology
The data is collected and calculated by the U.S. Census Bureau based on administrative records of new business applications.
Historical Context
Trends in business formations are closely watched by policymakers, economists, and market analysts to assess the strength of the District of Columbia's economy and the effectiveness of business-friendly policies.
Key Facts
- The District of Columbia had 8,270 new business formations in 2022.
- Business formations in DC grew by 12.5% from 2021 to 2022.
- The professional, scientific, and technical services sector accounted for the largest share of new businesses in DC.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total number of new business formations within a four-quarter period in the District of Columbia, covering all NAICS codes.
Q: Why is this trend relevant for users or analysts?
A: Trends in business formations are a key indicator of entrepreneurial activity and economic dynamism in the District, providing insights into the strength of the local economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau based on administrative records of new business applications.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor this indicator to assess the District of Columbia's entrepreneurial climate and the effectiveness of business-friendly policies.
Q: Are there update delays or limitations?
A: The data is released quarterly, and there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, Business Formations Within Four Quarters: Total for All NAICS in District of Columbia (BFBF4QTOTALNSADC), retrieved from FRED.