Well, Actually: 5.6 Million Americans Started Businesses Last Year, and You Can Blame ChatGPT
New U.S. business applications reached 5.6 million in 2025. Citadel Securities noted this represents a 24% increase since ChatGPT launched. The research firm attributes this surge to AI reducing startup costs.
This teaches you that generative AI functions as capital substitution for entrepreneurs. Lower barriers to entry mean you can test business ideas with fewer resources. The principle: automate operational tasks before hiring, not after.
Citadel Securities published the July research note tracking this trend. The 5.6 million figure reflects actual U.S. business applications filed.
Step 1: Identify one business task you would have paid someone to do, such as writing a business plan or creating a website. Use a free AI tool to generate a draft in 10 minutes. Step 2: Compare the AI output against your own manual attempt or a past freelancer invoice. Note the time and money differential. Step 3: File a formal business application through your state's Secretary of State portal if the cost savings justify proceeding.