Reflections from the Aspen Ideas Festival: Entrepreneurs Are Building the Next Economy

By SBE Council at 14 July, 2026, 1:12 pm

By Karen Kerrigan –

A few weeks ago, I had the privilege of participating in the Aspen Ideas Festival, where leaders from business, government, academia, technology, philanthropy and civil society gathered to discuss the ideas and forces shaping America’s future.

The breadth of conversations was remarkable. From artificial intelligence, health and wellness, to energy, agriculture, education and economic opportunity, one common thread emerged throughout the festival: we are living through one of the most significant periods of economic and technological transformation in generations.

AI, in particular, was a dominant discussion point across numerous sessions. Yet what encouraged me most was that the discussions consistently returned to people – to entrepreneurs, innovators and problem-solvers who will ultimately determine how these technologies improve lives, strengthen communities and expand opportunity.

I was honored to speak in an overflow session titled “Building the Next Economy: Entrepreneurship and Economic Mobility,” where I shared my thoughts on the future of entrepreneurship and SBE Council’s research on how entrepreneurs are leveraging AI, digital technologies and emerging tools to create opportunity, drive growth and expand economic mobility.

SBE Council’s Kerrigan and Rhett Buttle, President of Public-Private Strategies, and Producer of the Aspen Ideas Festival

One message resonated throughout our discussion: Entrepreneurship itself is changing.

As I noted in my remarks, technology has fundamentally lowered barriers to starting and scaling a business. Entrepreneurs today have access to capabilities that, only a decade ago, were available almost exclusively to large corporations.

AI, cloud computing, digital marketplaces and online platforms are democratizing opportunity in ways that would have been difficult to imagine just a few years ago.

At SBE Council, we’ve seen this transformation firsthand through our research and conversations with entrepreneurs across the country. They aren’t using AI simply to do the same work faster – they’re using it to compete more effectively, reach new customers and better serve them, improve decision-making, support their employees, and build stronger businesses.

Key Points I Shared 

● We have entered a new entrepreneurial age. America continues to experience historically strong levels of new business applications and business formation, demonstrating that entrepreneurship remains one of our nation’s greatest competitive strengths.

● Technology has fundamentally changed the economics of entrepreneurship. Today’s entrepreneurs can launch businesses faster, operate more efficiently and reach customers virtually anywhere in the world using affordable digital tools and platforms, and cloud-based technologies.

● Small businesses are increasingly “born global.” Even very small firms now sell internationally, source products globally, market worldwide and receive payments from customers across dozens of countries from their earliest days.

● AI is democratizing business capabilities. A five-person business can now access capabilities that once required entire corporate departments. AI is becoming a marketing department, customer service team, financial analyst, IT department and strategic advisor – all at a fraction of the traditional cost.

● AI is proving to be an equalizer, not simply a labor-saving tool. Our SBE Council surveys consistently show entrepreneurs are primarily using AI to become better managers, improve productivity, strengthen customer service, enhance creativity and identify new opportunities. Not simply to replace workers. In fact, AI is helping employees level up their skills and add more value to the business by doing more meaningful work.

● The greatest opportunity lies in helping entrepreneurs scale. For decades, the biggest barriers to growth were capital, geography and scale. Technology is systematically reducing each of those barriers. The policy challenge is ensuring entrepreneurs have the freedom and resources to capitalize on these transformational changes.

● Public policy and programs have not fully caught up with today’s entrepreneurial economy. Millions of small businesses now operate globally through digital commerce, yet government data and many public policies and government programs still reflect a pre-digital economy. Better measurement leads to better policy, and SBE Council continues to work on that each and every day.

● Policy should focus on removing friction, not creating it. Entrepreneurs thrive when they have access to capital, competitive tax policy, predictable regulation, quality infrastructure, broadband connectivity and workforce development support. Good policy empowers entrepreneurs to solve societal and economic problems rather than navigate unnecessary obstacles.

● Small businesses are a form of community infrastructure and distributive, economic resilience. Entrepreneurs don’t simply create jobs. They create vibrant downtowns, strengthen neighborhoods, solve local challenges and make our economy more adaptable during periods of rapid technological and geopolitical change.

Three Ideas I’ll Continue Watching

Leaving Aspen, there were three ideas that continue to stand out for me.

First, AI is rapidly becoming foundational business infrastructure. Just as internet connectivity became essential over the past two decades, AI is quickly becoming another core business capability. The entrepreneurs embracing these tools today are positioning themselves for stronger growth tomorrow. Small business owners are enthusiastically and confidently embracing AI, which is a good thing.

Second, America’s entrepreneurs are increasingly becoming “micro-multinationals.” A growing number of very small businesses now serve customers around the globe, yet our government statistics and many public policies still struggle to recognize this reality. As I stated during the panel, we’re still measuring the economy like it’s 1995, while entrepreneurs are operating like it’s 2035. Closing that measurement gap will be essential for developing smarter policies that reflect today’s digital economy.

Finally, the next decade should not only be about creating more startups. It should be about helping millions more entrepreneurs become growth businesses. AI and digital technologies are dramatically lowering the cost of scaling a business. Combined with sound public policy that expands access to capital, encourages investment, promotes innovation and reduces unnecessary regulatory barriers, we have an extraordinary opportunity to unlock a new era of entrepreneurship and economic mobility.

As we celebrate America’s 250th anniversary over the coming year, it’s worth remembering that entrepreneurs have always been at the center of our nation’s story. They have built industries, strengthened communities, solved problems and expanded opportunity for generations.

The conversations at Aspen only reinforced my optimism that America’s next great chapter of innovation and economic growth will once again be written by entrepreneurs.

Karen Kerrigan is President & CEO of the Small Business & Entrepreneurship Council.