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Business applications

Business applications

Before a business forms, it must apply for a tax ID called the Employer Identification Number (EIN). While these EIN applications do not always lead to actual businesses, the Bureau of Labor Statistics tracks them as a measure of entrepreneurship across the country. Ones that the agency considers particularly likely to become businesses with payroll are marked as high-propensity.

Among high-propensity business applications, the agency further identifies those that come from a corporation, as well as those that have set a date for paying their workers. These applications with planned wages are associated with an even higher likelihood of eventual business formation.

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