United States sees surge in small business applications

The United States is experiencing a significant rise in entrepreneurship, a phenomenon referred to by Forbes as ‘The Great American Small Business Surge.’ According to the United States Census, business applications for July 2026 reached 578,926, marking an 8.1% increase from the previous month. The Census Bureau projects that approximately 30,000 of these applications will result in new business startups with payroll tax liabilities within one year.

QuickBooks’ 2026 Entrepreneurship Trends report identifies entrepreneurship as a primary wealth-building strategy. The report also highlights the rise of the ‘invisible entrepreneur,’ noting that while 47% of Americans reported earning income from side hustles in the past year, only 20% have officially registered their work as a business.

Key sectors driving this growth include health and wellness, artificial intelligence, automation, and skilled trades. The health and wellness industry, specifically in anti-aging and nutrition, continues to be a major economic driver.