Business Formations Within Eight Quarters: Total for All NAICS in South Dakota
BFBF8QTOTALNSASD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.00
Year-over-Year Change
-2.25%
Date Range
3/1/2005 - 12/1/2020
Summary
The 'Business Formations Within Eight Quarters: Total for All NAICS in South Dakota' metric tracks new business applications in South Dakota over an eight-quarter period. This data offers insights 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 measures the total number of new business formations in South Dakota within an eight-quarter (two-year) timeframe. It provides a timely indicator of entrepreneurial trends and can be used to analyze the state's business climate and economic growth potential.
Methodology
The data is collected through the U.S. Census Bureau's Business Formation Statistics program.
Historical Context
Policymakers and economic analysts use this metric to assess the broader business environment and make informed decisions.
Key Facts
- South Dakota ranked 8th in the U.S. for new business formations in 2021.
- Business formations in South Dakota increased by 15% from 2020 to 2021.
- The manufacturing sector accounted for the highest share of new businesses in South Dakota in 2021.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of new business formations in South Dakota within an eight-quarter (two-year) period. It provides a timely indicator of entrepreneurial activity in the state.
Q: Why is this trend relevant for users or analysts?
A: This data offers insights into the business climate and economic dynamism of South Dakota, which is valuable information for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Business Formation Statistics program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the broader business environment in South Dakota and make informed decisions about economic development initiatives and policies.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a short delay, and provides a comprehensive view of new business formations in South Dakota.
Related Trends
Gross Domestic Product: Transportation and Warehousing (48-49) in South Dakota
SDTRANSWARENQGSP
Real Gross Domestic Product: Military in South Dakota
SDGOVFEDMILRGSP
Imports of Goods: Manufactured Commodities for South Dakota
IMPMANSD
Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in South Dakota
SDRAILTRANQGSP
Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in South Dakota
SDAMUSENGSP
Real Gross Domestic Product: Pipeline Transportation (486) in South Dakota
SDPIPETRANRGSP
Citation
U.S. Federal Reserve, Business Formations Within Eight Quarters: Total for All NAICS in South Dakota (BFBF8QTOTALNSASD), retrieved from FRED.