As tumultuous as the economy is, the answer to that question is surprisingly “yes,” per Intuit QuickBooks’ annual Entrepreneurship Report, released late last year.
It’s not that American entrepreneurs are blind to the state of the economy. But they’ve run out of patience, are no longer waiting for the economy to improve, or the perfect moment to launch. They’re “building anyway.” The QuickBooks report reveals “a massive surge in… entrepreneurship.”
Key findings
- 33% of adults plan to start a business or side hustle this year—up 94% from 2025
- 68% feel a sense of urgency to start now, and 57% say they’ll launch even if economic conditions aren’t ideal
- 47% say cost is the top obstacle to launching. They estimate needing $28,000 to start a business, but the median actual startup cost is just $12,000. According to the survey, that difference is significant. “When the imagined cost to start is more than double the real cost, fear and hesitation naturally follow. Many aspiring entrepreneurs stop before they ever begin,” simply because they mistakenly think they can’t afford it.
- Side hustles are booming—but largely unregistered: 47% earned money from a side hustle in 2025, yet only 1 in 5 registered their business, fueling a growing informal entrepreneurship economy.
Entrepreneurial intent is skyrocketing
QuickBooks says, “America is heading into 2026 with unprecedented entrepreneurial energy.” Why? Motivations include wanting higher income, greater control, and a more secure financial future. Entrepreneurship now ranks as the top wealth-building strategy—outranking saving cash, investing, or earning more in a traditional job. For many, the survey concludes, “starting a business isn’t just an aspiration; it’s a financial strategy.”
Entrepreneurial urge by generation
Younger generations are driving new business trends: Gen Z leads in entrepreneurial intent (43%), followed by millennials (39%) and Gen X (21%). Gen Z believes that business ownership is “not only attainable but expected, a natural extension of how they earn income and build wealth. Their enthusiasm is a major driver behind the national surge.”
Millennials feel the most urgency to start a business (74%) this year, compared to 67% of Gen Z and 61% of Gen X. Millennials are also the most determined to launch even if conditions aren’t perfect. For many, the risk of waiting feels greater than the risk of starting.
QuickBooks says this signals a major generational shift in how Americans build wealth.
But what happens when this urgency meets the financial realities of starting a business?
Funding gaps
To start their companies, 53% plan to use personal financing, while 47% plan to use business financing. Many will rely on personal savings (66%) or personal credit cards (45%). However, rising interest rates and the cost of borrowing add another layer of pressure.
Money as the top barrier
When asked what stops them from starting a business, almost 47% of survey respondents say money, followed by fear of financial failure—33% are worried about losing money. And 24% say they have challenges accessing credit.
The survey concludes: “These concerns aren’t just about dollars and cents. They speak to deeper questions about stability, risk, and what happens if things don’t go as planned.”
Low financial confidence
On top of these barriers, 52% of aspiring entrepreneurs say they lack confidence in essential tasks, including managing cash flow, tracking expenses, invoicing customers, or handling taxes. And 71% say this lack of financial knowledge makes it harder to reach their personal financial goals.
People are motivated to start businesses, and many feel a strong need to act quickly. Yet money, confidence, and economic uncertainty slow their ability to move from idea to action.
The role of AI in lowering barriers to action
As more aspiring entrepreneurs seek faster, more affordable ways to start a business, AI is emerging as a vital tool—65% say they’re likely to use AI to help launch this year and 31% say they’re very likely to use it. “For many, AI feels like a shortcut through the parts of entrepreneurship that once felt too slow, too expensive, or too complicated.”
AI uses include:
- Brainstorming business ideas or conducting market research (29%)
- Creating websites or product listings (19%)
- Developing names, logos, and branding assets (14%).
The survey says, “AI gives new entrepreneurs a virtual partner they can turn to for guidance or hands-on support, and it can complete work in minutes that might take days or weeks on their own. The combination of speed, lower cost, and on-demand expertise can make the path from idea to action feel far more achievable. In a landscape where money is tight, and confidence is mixed, AI is a tool that reduces friction, speeds up early decisions, and makes entrepreneurship feel more achievable.”
The entrepreneurial surge is real
The survey is optimistic that 2026 will be a good year for entrepreneurial launches. It says, “If aspiring founders can get better access to financial guidance, funding solutions, and easy-to-use tools that help them formalize their work, millions more may be able to turn their ideas into real businesses.”
Rieva Lesonsky is the founder of Small Business Currents, a content company focusing on small businesses and entrepreneurship. You can find her on Twitter @Rieva, Bluesky @Rieva.bsky.social, and LinkedIn. Or email her at Rieva@SmallBusinessCurrents.com.
Photo courtesy Getty Images for Unsplash+
