TEMPE,
Ariz., March 28, 2024 /PRNewswire/ --
Entrepreneurship is booming, and online microbusinesses – those
with 10 or fewer employees, a domain and an active website – create
jobs and lower unemployment rates across the U.S., according to new
research from GoDaddy and UCLA Anderson Forecast.
This means:
- At the county level, every microbusiness entrepreneur is
correlated with seven additional jobs by hiring directly,
indirectly or creating more demand and spending more in their
communities.
- Adding 1,000 new microbusiness entrepreneurs in a county is
associated with a drop of 0.11 percentage points in the
unemployment rate. This means that studying Miami-Dade County in Florida, with almost 430,000 microbusinesses
and 2.1 million people over the age of 18, adding just 1,000
entrepreneurs would reduce the region's unemployment rate by almost
7% (from 1.6% to 1.49%).
"We've learned that online businesses with 10 or fewer employees
are creating more jobs than before – up to seven jobs for every one
entrepreneur, compared to only two just a few years ago," said
Alexandra Rosen, senior director of
Venture Forward. "Our findings show how even the smallest of
businesses can significantly drive down unemployment rates in
communities across the country."
Explore the data in full here and learn more in the blog
post here. For more information on the state of microbusinesses
across the country, visit www.godaddy.com/ventureforward.
About GoDaddy Venture Forward
GoDaddy's Venture Forward research initiative analyses more than 20
million online businesses with a digital presence (measured by a
unique domain and an active website). Most of these businesses
employ fewer than ten people, categorizing each as a microbusiness.
While these microbusinesses may be small, their impact on economies
is outsized even though they are often too informal or too new to
show up in traditional government statistics. To find out more
about GoDaddy's Venture Forward research, visit
www.godaddy.com/ventureforward
About GoDaddy
GoDaddy (NYSE: GDDY) helps millions of entrepreneurs globally
start, grow, and scale their businesses. People come to GoDaddy to
name their idea, build a professional website, attract customers,
sell their products and services, and accept payments online and in
person. GoDaddy's easy-to-use tools help microbusiness owners
manage everything in one place, and its expert guides are available
to provide assistance 24/7. To learn more about the company, visit
www.GoDaddy.com.
About UCLA Anderson Forecast
UCLA Anderson Forecast is one of the most widely watched and
often-cited economic outlooks for California and the nation and was unique in
predicting both the seriousness of the early-1990s downturn in
California and the strength of the
state's rebound since 1993. The Forecast was credited as the first
major U.S. economic forecasting group to call the recession of 2001
and, in March 2020, it was the first
to declare that the recession caused by the COVID-19 pandemic had
already begun. www.uclaforecast.com
About UCLA Anderson School of Management
UCLA Anderson School of Management is among the leading business
schools in the world, with faculty members globally renowned for
their teaching excellence and research in advancing management
thinking. Located in Los Angeles,
a gateway to the growing economies of Latin America and Asia and a city that personifies innovation in
a diverse range of endeavors, UCLA Anderson's MBA, Fully Employed
MBA, Executive MBA, UCLA-NUS Executive MBA, Master of Financial
Engineering, Master of Science in Business Analytics, doctoral and
executive education programs embody the school's Think in the Next
ethos. Annually, some 1,800 students are trained to be global
leaders seeking the business models and community solutions of
tomorrow. www.anderson.ucla.edu
Source: GoDaddy Inc.
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SOURCE GoDaddy