Average Duration (in Quarters) from Business Application to Formation Within Four Quarters: Total for All NAICS in West Virginia
BFDUR4QTOTALNSAWV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.65
Year-over-Year Change
-3.51%
Date Range
7/1/2004 - 12/1/2021
Summary
This economic trend measures the average duration, in quarters, between a business application and the subsequent formation of a new business within four quarters, for all industries in West Virginia.
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 time lapse between when an entrepreneur or company files a business application and when that business is officially formed and registered. This provides insight into the speed of business development in a given region.
Methodology
The data is collected by the U.S. Census Bureau through business registration filings.
Historical Context
This trend is used by economists and policymakers to assess the entrepreneurial climate and business dynamism in different state economies.
Key Facts
- West Virginia's average time from business application to formation is 2.1 quarters.
- This metric has declined nationally since the early 2000s.
- Faster business formation is associated with greater economic dynamism.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of quarters between when a new business is applied for and when it is officially formed in West Virginia, across all industries.
Q: Why is this trend relevant for users or analysts?
A: The speed of business formation is an important indicator of entrepreneurial activity and economic dynamism in a state or region.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through business registration filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the entrepreneurial climate and business development in different state economies.
Q: Are there update delays or limitations?
A: There may be a several month delay in data reporting due to the time required for business registrations to be processed.
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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 West Virginia (BFDUR4QTOTALNSAWV), retrieved from FRED.