Business Applications for Rhode Island
BUSAPPWNSARI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
220.00
Year-over-Year Change
-12.00%
Date Range
5/6/2006 - 6/28/2025
Summary
The 'Business Applications for Rhode Island' trend tracks the number of new business applications filed in the state. This data provides insights into 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 measures the number of new business applications filed with the Internal Revenue Service (IRS) in Rhode Island. It serves as an indicator of potential future business formation and economic growth in the state.
Methodology
The data is collected and published by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this metric to gauge the business climate and entrepreneurial energy in Rhode Island.
Key Facts
- Rhode Island saw 3,721 new business applications in 2022.
- Applications peaked in 2020 during the COVID-19 pandemic.
- Retail trade and professional services are common new business sectors.
FAQs
Q: What does this economic trend measure?
A: The 'Business Applications for Rhode Island' metric tracks the number of new business applications filed with the IRS in the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into entrepreneurial activity and the business climate in Rhode Island, which is useful for policymakers, economists, and investors.
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 analysts use this metric to gauge the state's business environment and inform decisions related to economic development, taxation, and other policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture all business applications due to reporting requirements.
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Citation
U.S. Census Bureau, Business Applications for Rhode Island (BUSAPPWNSARI), retrieved from FRED.