National Restaurant Association Shares Business Application Data

In March, 26,786 business applications were filed for new accommodation and foodservices establishments, shares the National Restaurant Association, highlighting data from the U.S. Census Bureau.

This was down from 27,820 in February, and figures averaged roughly 26,500 over the past eight months, says the association.

“Despite recent moderation, start-up activity in accommodation and foodservices remains well above its pre-pandemic trend,” says the release. “ … Business applications in the sector followed a steady upward trajectory from January 2010 through February 2020. Extending that pre-pandemic trend forward suggests there would have been nearly 17,500 applications in March; in reality, filings were more than 53% higher than that benchmark.”

The data series highlights applications, but not actual business openings or closings, notes the association. For more details, click here.