U.S. Business Formation Hits Record 2.9 Million Through May as Solopreneurs Scale Faster
Updated
Updated · Marginal Revolution · Jun 25
U.S. Business Formation Hits Record 2.9 Million Through May as Solopreneurs Scale Faster
2 articles · Updated · Marginal Revolution · Jun 25
Summary
2.9 million new businesses were formed nationwide through May 2026, the strongest five-month start on record, with every month this year setting a new formation high.
March posted the highest single-month total in the history of Registered Agents Inc.'s Business Formation Report, extending a renewed surge that accelerated over the past 18 months.
Stripe data points to faster scaling behind that boom: the share of businesses reaching $1 million in cumulative revenue within a year was about 30% higher for the 2025 cohort than 2023 and roughly 3 times 2019.
Tools such as Stripe, Shopify, cloud software, automated bookkeeping and AI are lowering the staffing and cost needed to launch a company, fueling what Stripe calls the age of the solopreneur.
France has also hit record business creation levels, suggesting the rebound in entrepreneurship may reflect a broader shift toward a more experimental, faster-moving economy.