Business Applications from Corporations: Total for All NAICS in Rhode Island
BACBATOTALNSARI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132.00
Year-over-Year Change
80.82%
Date Range
7/1/2004 - 6/1/2025
Summary
The 'Business Applications from Corporations: Total for All NAICS in Rhode Island' trend measures the total number of new business applications submitted by corporations in Rhode Island across all industries. This provides insight into entrepreneurial activity and economic 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 tracks the total number of new business applications filed by corporations, which are a leading indicator of future business formations and economic growth. It covers all sectors of the Rhode Island economy and can be used to analyze trends in entrepreneurship and business creation.
Methodology
The data is collected by the U.S. Census Bureau through its Business Formation Statistics program.
Historical Context
This metric is closely watched by policymakers, investors, and economists to assess the health and trajectory of the Rhode Island economy.
Key Facts
- Rhode Island saw 1,270 new business applications from corporations in 2022.
- Business applications peaked in Rhode Island during the COVID-19 pandemic in 2020.
- The trend has shown steady growth over the past decade, signaling increasing entrepreneurial activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of new business applications filed by corporations in Rhode Island across all industries and sectors of the economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into entrepreneurial activity and the formation of new businesses, which are key drivers of economic growth and dynamism.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through its Business Formation Statistics program.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and economists closely monitor this metric to assess the health and trajectory of the Rhode Island economy, as it is a leading indicator of future business formations and economic activity.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of a few months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Business Applications from Corporations: Total for All NAICS in Rhode Island (BACBATOTALNSARI), retrieved from FRED.