Business Applications for North Dakota
BUSAPPWNSAND • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
220.00
Year-over-Year Change
4.76%
Date Range
5/6/2006 - 6/28/2025
Summary
The Business Applications for North Dakota trend measures the number of new business applications filed in the state. It is an important economic indicator that provides insights into entrepreneurial activity and business formation.
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 trend tracks the number of new business applications submitted to the North Dakota Secretary of State. It serves as a leading indicator of future business formations and economic growth in the state.
Methodology
The data is collected and published by the U.S. Census Bureau through its Business Formation Statistics program.
Historical Context
Policymakers and analysts use this metric to assess the health and dynamism of North Dakota's entrepreneurial ecosystem.
Key Facts
- North Dakota saw a record high number of new business applications in 2021.
- The state's business application rate is consistently above the national average.
- Entrepreneurial activity tends to be higher in North Dakota compared to other Great Plains states.
FAQs
Q: What does this economic trend measure?
A: The Business Applications for North Dakota trend tracks the number of new business applications filed with the state government. It is a leading indicator of future business formations and entrepreneurial activity.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and dynamism of North Dakota's entrepreneurial ecosystem, which is an important driver of economic growth and development in the state.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau through its Business Formation Statistics program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the state's business climate and inform economic development strategies aimed at fostering entrepreneurship and supporting new business formations.
Q: Are there update delays or limitations?
A: The Business Applications for North Dakota data is published on a monthly basis with a lag of several weeks, so it may not reflect the most recent economic conditions.
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Citation
U.S. Census Bureau, Business Applications for North Dakota (BUSAPPWNSAND), retrieved from FRED.