Source: U.S. Census Bureau
Release: Business Formation Statistics
This series provides the number of employer businesses that originate from Business Applications (BA) within four quarters from the quarter of application. By definition, the end-point of this series is determined by the most recent quarter for which the administrative data on payroll is available.
See the U.S. Census's FAQs for more details.
U.S. Census Bureau, Business Formations Within Four Quarters: Total for All NAICS in Michigan [BFBF4QTOTALNSAMI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BFBF4QTOTALNSAMI, October 2, 2022.