Business Applications for North Carolina
BUSAPPWNSANC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,840.00
Year-over-Year Change
4.92%
Date Range
5/6/2006 - 6/28/2025
Summary
The 'Business Applications for North Carolina' trend tracks the number of new business applications filed in the state. This metric is closely watched by economists as an indicator of entrepreneurial activity and future economic growth.
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 applications for new businesses filed with the Internal Revenue Service (IRS) for North Carolina. It provides a timely signal of changes in the entrepreneurial climate and business formation within the state.
Methodology
The data is collected and reported by the U.S. Census Bureau based on administrative records from the IRS.
Historical Context
Policymakers and analysts use this metric to gauge the health of the state's small business sector and entrepreneurial dynamism.
Key Facts
- New business applications in North Carolina reached a record high in 2021.
- The state ranked 10th nationally for total business applications in 2022.
- Applications for high-propensity businesses (likely to hire employees) made up over 30% of the total in North Carolina.
FAQs
Q: What does this economic trend measure?
A: The 'Business Applications for North Carolina' series tracks the number of new business applications filed with the IRS for the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a timely signal of changes in entrepreneurial activity and small business formation within North Carolina, which is important for assessing the state's economic health and growth prospects.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau based on administrative records from the Internal Revenue Service (IRS).
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the health of North Carolina's small business sector and entrepreneurial dynamism, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is released on a weekly basis with a short lag, providing timely insights into business formation trends in North Carolina.
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Citation
U.S. Federal Reserve, Business Applications for North Carolina (BUSAPPWNSANC), retrieved from FRED.