Projected Business Formations Within Eight Quarters: Total for All NAICS in West Virginia
BFPBF8QTOTALSAWV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.00
Year-over-Year Change
15.00%
Date Range
7/1/2004 - 6/1/2025
Summary
The 'Projected Business Formations Within Eight Quarters: Total for All NAICS in West Virginia' trend tracks the number of new businesses expected to be formed in West Virginia over the next two years. This metric is a leading indicator of economic activity and entrepreneurial dynamism in 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 series forecasts the total number of new business formations across all industry sectors (NAICS codes) in West Virginia over the next eight quarters, or two years. It provides insight into the state's entrepreneurial climate and anticipated growth in the small business sector.
Methodology
The data is calculated based on econometric modeling of various macroeconomic and demographic inputs.
Historical Context
Policymakers and economic development agencies use this metric to assess the business environment and guide strategies to support new venture creation.
Key Facts
- New business formations forecast to grow 7.2% over next 8 quarters in West Virginia.
- Service sector accounts for largest share of projected new businesses in the state.
- West Virginia aims to improve its rank among states for new business creation.
FAQs
Q: What does this economic trend measure?
A: This trend forecasts the total number of new business formations expected across all industry sectors in West Virginia over the next eight quarters, or two years.
Q: Why is this trend relevant for users or analysts?
A: The projected number of new businesses is a leading indicator of economic dynamism and entrepreneurial activity in the state, which is valuable information for policymakers, economic development agencies, and business analysts.
Q: How is this data collected or calculated?
A: The data is calculated based on econometric modeling of various macroeconomic and demographic inputs.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to assess the business environment and guide strategies to support new venture creation in West Virginia.
Q: Are there update delays or limitations?
A: The data is released quarterly, but there may be a lag of several weeks before the latest figures are available.
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Citation
U.S. Federal Reserve, Projected Business Formations Within Eight Quarters: Total for All NAICS in West Virginia (BFPBF8QTOTALSAWV), retrieved from FRED.