Business formation is exploding post-COVID — weekly applications up 2x since 2019 and AI is accelerating the trend
Mar 9, 2026
Key Points
- Weekly US business applications have roughly doubled since 2019, climbing from around 60,000–70,000 per week to above 120,000, with AI adding an estimated 20,000 more on top over the past two years.
- The COVID pandemic sparked the initial surge, but formation rates have kept rising well past any reopening effect.
- Cheaper software, AI tooling, and lower incorporation barriers are compounding to make entrepreneurship structurally more accessible.
Summary
Weekly US business applications have roughly doubled since 2019, and AI appears to be pushing the trend higher still.
Apollo data puts the four-week moving average for new business applications at around 60,000 to 70,000 per week in 2019. That figure has been above 120,000 for several years now, with AI adding roughly another 20,000 on top over the past two years. The COVID pandemic was the initial catalyst, but the acceleration has continued well past any reopening effect.
Stripe Atlas gets some credit for lowering the friction of incorporation. Easier tooling and AI are compounding rather than competing, and both are pulling formation rates up. The Stripe founders previously noted that businesses are not only forming faster but growing faster too.
Cheaper software development, better AI tooling, and lower administrative barriers are together making entrepreneurship more accessible, and the data is reflecting it.