New business formation is surging, and the records show it
Public state filings are the most underused economic dataset in the country. Every new registration is a company that needs banking, payments, insurance, and software.
Every weekday, secretaries of state across the country publish thousands of new business registrations. Each one is a founder who needs a bank account, a way to get paid, insurance, a website, and a dozen other services. It is the most underused economic dataset in the country.
Why filings beat surveys
Surveys ask people what they intend to do. Filings record what they actually did: a legal entity, a registered agent, a date, and an address. The data is public, structured, and published on a schedule, which makes it a leading indicator that costs nothing to access.
What the patterns show
Formation surged after 2020 and never fully returned to the old baseline. The mix shifted too: more single-owner services businesses, more e-commerce entities, and steady growth in trades and logistics. Formation is no longer concentrated in a handful of coastal states.
Why it matters
For anyone selling to small businesses, the filing is the starting gun. The first ninety days of a company are when banking, payments, and software decisions get made. The businesses that show up in those first weeks win accounts that stay for years.