Business applications nationally sit at 457,544

In seven days, the United States of America will welcome new leadership with the inauguration of President Donald Trump. As the new year and new hope begins, the United States Census Bureau (Census) has released business progression numbers for December.

Business applications nationally sit at 457,544 and has increased 1.5% compared to November.

Business applications

In November locally, there were 29 business licenses issued in Putnam County. That number was down from October. December numbers have not been released as of this writing, but the final month of the year is usually slow. The Business climate at the end of 2024 saw a 2.1% economic growth. Following the election of President Trump, boosted hopes for lower interest rates spurred by the business-friendly policies that are sure to come.

Business formations nationally in December also increased 2.6%, according to the report. There were 28,834 new businesses formed in the country.

Business formations

“The projected business formations are forward looking, providing an estimate of the number of new business startups that will appear from the cohort of business applications in a given month. It does not provide an estimate of the total number of business startups that appeared within a specific month,” according to the Census.

The bureau says it is projecting that 28,834 new business startups with payroll tax liabilities will form from the applications filed in December.

“The 2.6% increase indicates that for Dec.  2024 there will be 2.6% more businesses projected to form within 4 quarters of application, compared to the analogous projections for November 2024,” according to the report.

Photo by Carlos Muza on Unsplash.

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