Roughly 5.12 million new business applications were filed in 2024, continuing a post-pandemic surge in entrepreneurship, according to the U.S. Census Bureau data. But many founders stall after the paperwork.
Mark Cuban, co-founder of the Mark Cuban Cost Plus Drug Company, said artificial intelligence can close that gap for small business owners. In an email Q&A with Fortune recently, he predicted that in five years AI will be "a baseline skill like email." He added, "[AI isn't] just a tool, it's leverage. If you're not using AI to move faster or make smarter decisions, you're behind."
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AI Shifts From Edge To Everyday Skill
Cuban said AI fluency is fast becoming table stakes, saying in the email Q&A that it will be "a baseline skill like email or Excel" within five years. "We'll see more people working for themselves," he said, predicting digital aides will turn "solo founders into full teams."
Cuban is putting that view to work with ZenBusiness, the Austin, Texas‑based startup he advises. The company says it has helped more than 850,000 entrepreneurs launch and build businesses since its 2015 founding.
The firm recently launched Velo, an agent that automates filings, researches regulations, drafts websites, and tracks deadlines without extra fees. Cuban told Fortune that the tool is "your VP of ops, sales rep, data analyst and legal counsel rolled into one—minus payroll."
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Velo Offers 24/7 Guidance
ZenBusiness Chief Executive Officer Ross Buhrdorf recently described Velo as an AI agent that offers personalized, step‑by‑step guidance through an interactive dashboard and is available 24/7, with ZenBusiness's customer‑care team providing real human support when needed.
ZenBusiness in February introduced real‑time compliance alerts and a compliance score to help small businesses keep up with ever‑changing state and federal regulations.
Entrepreneurship Holds Up After Pandemic Boom
The U.S. Census Bureau reported 457,407 business applications in June, a 2.2% rise from May. Projected employer business formations stand at 28,376—up 0.1% from May. Florida and Georgia remain among the top states per capita. According to a recent Federal Reserve report, lending conditions are starting to tighten, and high long-term interest rates are weighing on demand and growth prospects.
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Big Money Bets On Compliance AI
Meanwhile, security and compliance platform Vanta announced last month it raised $150 million at a $4.15 billion valuation, underscoring demand for tools that reduce administrative work for young firms.
Public data now tracks AI adoption and its impact. The U.S. Census Bureau's Business Trends and Outlook Survey, which includes an AI supplement, counts firms using the technology and shows how that share shifts over time.
Similarly, the Fed's Small Business Credit Survey details the challenges those companies report, providing a benchmark for judging whether digital assistants really cut costs and errors.
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