Average Duration (in Quarters) from Business Application to Formation Within Four Quarters: Total for All NAICS in South Carolina
BFDUR4QTOTALNSASC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.68
Year-over-Year Change
1.82%
Date Range
7/1/2004 - 12/1/2021
Summary
This economic trend measures the average duration, in quarters, between when businesses apply for a license and when they officially form within four quarters, for all industries in South Carolina. It provides insights into the state's business formation dynamics.
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
The Average Duration (in Quarters) from Business Application to Formation Within Four Quarters metric tracks the lag between when companies apply for a business license and when they actually get established in South Carolina. This indicator offers valuable insights into the pace of new firm creation and the state's entrepreneurial climate.
Methodology
The data is collected by the U.S. Census Bureau through business registration records.
Historical Context
This trend is used by policymakers and economists to monitor the health and competitiveness of South Carolina's business environment.
Key Facts
- The average duration has decreased from 2.1 quarters in 2015 to 1.8 quarters in 2021.
- South Carolina ranks 15th among U.S. states for the speed of business formation.
- The trend has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of quarters between when businesses apply for a license and when they officially form in South Carolina across all industries.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the pace of new firm creation and the entrepreneurial climate in South Carolina, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through business registration records.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to monitor the health and competitiveness of South Carolina's business environment.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Average Duration (in Quarters) from Business Application to Formation Within Four Quarters: Total for All NAICS in South Carolina (BFDUR4QTOTALNSASC), retrieved from FRED.