NORTHAMPTON, MA / ACCESS Newswire / April 17, 2025 / GoDaddy:
Originally published on GoDaddy LinkedIn
Let's start out with fresh insights into the world of small and microbusinesses. GoDaddy's research initiative, Venture Forward, has been tracking the impact of online microbusinesses - which typically employ fewer than 10 people - on local economies since 2018. Its latest data highlights how entrepreneurs are leveraging digital tools, especially AI, to fuel growth, create jobs, and drive innovation.
To date, we've surveyed over 50,000 microbusiness owners, giving us a unique and data-driven perspective on their challenges, successes, and evolving needs. Whether you're an entrepreneur, policymaker, or researcher, GoDaddy Venture Forward is your go-to source for understanding the small business landscape.
Stay tuned for exclusive reports, new data releases, and trends shaping the future of microbusinesses. If you haven't already, subscribe to this newsletter to get updates in your LinkedIn feed each quarter!
Greg Efthimiou
Vice President, Public Relations
Igniting the Microbusiness Movement: Uncovering New U.S. Economic Trends
The Microbusiness Data Hub has been refreshed through December and the fourth quarter of 2024, including updated Microbusiness Density Data, Microbusiness Activity Index, and e-commerce trends.
We have also released our latest review of the impacts made by these entrepreneurs on job creation and unemployment based on the latest U.S. Census Data and Bureau of Labor Statistics (BLS) through December 2024.
Statistically significant findings in partnership with UCLA Anderson Forecast economists include:
At the county-level, every additional microbusiness entrepreneur adds about seven jobs, which has continued to grow based on data through 2024. Analysis of data from 2018 to 2024 found the effect of microbusiness entrepreneurship to be two or more new jobs for every additional entrepreneur, and from 2020 to 2024, about seven new jobs.
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%). And Cuyahoga County, Ohio (home to Cleveland), with over 72,000 microbusinesses, could see a decrease of 3% in unemployment from 3.2% to 3.09% by adding 1,000 new microbusiness entrepreneurs.
Download the data
How AI is Supercharging Small Businesses and Boosting Local Economies
Small businesses are the backbone of local economies, and AI is helping them thrive like never before. New research from GoDaddy, in partnership with UCLA Anderson economists, shows that AI-powered tools like GoDaddy Airo are driving job creation, boosting productivity, and increasing revenues for small business owners.
GoDaddy Airo uses advanced AI to optimize marketing, customer engagement, and business insights, making it easier for entrepreneurs to start and grow their businesses.
Here's what we found:
Every new website created with GoDaddy Airo contributes to an average of 20 new jobs per county.
AI-powered small businesses report 72% higher productivity and 61% increased revenue.
More small businesses are launching online, lowering the barrier to entrepreneurship.
AI is even helping reduce local unemployment rates. Despite these gains, 38% of small business owners say they don't know enough about AI-showing there's still work to do in 2025 to make AI accessible to all.
How can AI help your business grow? Read the full findings
GoDaddy and Mastercard Join Forces to Empower America's Small Businesses
Alex Rosen of GoDaddy and Ginger Siegel of Mastercard explore the challenges and opportunities faced by small businesses in a new article. Despite incredible growth in recent years, many small businesses are still disconnected from crucial resources, from digital tools to financial support. The collaboration between GoDaddy and Mastercard aims to bridge these gaps, offering insights into how small business owners can leverage available resources to drive growth and success.
Small businesses are the heart of the U.S. economy, and new GoDaddy research reveals that entrepreneurs are more determined than ever to succeed. Despite economic challenges, small business owners remain optimistic, adaptable, and eager for the right support to help them scale.
Here's what we found:
Confidence is high - Entrepreneurs are pushing forward, with a strong belief in their ability to succeed.
Adaptability is key - Small business owners are pivoting strategies, embracing digital tools like Gen AI and social media, and finding creative ways to grow.
Support is needed - While their ambitions are big, many small business owners say they need better resources, mentorship, and financial backing to reach their full potential.
Small businesses are resilient, but they can't do it alone. What can be done to empower them?
Read the full story
Small Museums Face Unprecedented Challenges Amid Declining Visitors and Rising Costs
Recent research by Kids in Museums and GoDaddy's Venture Forward initiative reveals that three in five small museums fear potential closure due to decreased visitor numbers and increased operational expenses. Over three-quarters describe this period as the most challenging they've experienced. The "Small Days Out" campaign encourages families to support local, independent museums during school holidays, emphasizing their vital role in preserving community heritage. This initiative highlights the importance of community engagement in sustaining these cultural institutions.
Access the complete story here.
In the News
Entrepreneurial Resilience: Insights from GoDaddy's Venture Forward Report
GoDaddy's latest Venture Forward report reveals that 75% of microbusiness owners who close a business persist by launching new ventures, with 39% of these becoming the primary income source for their households. This resilience underscores the vital role microbusinesses play in driving economic renewal, a theme echoed in a recent Inc. article highlighting key policies to support entrepreneurs. The report also highlights that each entrepreneur creates an average of seven jobs at the county level, up from two in 2020, and that women now own 51% of microbusinesses, up from 41% in 2019.
Read more in Inc.
Croydon Emerges as a Thriving Hub for UK Small Businesses
Recent data from GoDaddy's Venture Forward report highlights Croydon's remarkable growth in microbusinesses, positioning the borough as a potential "UK's answer to Silicon Valley." Over the past year, Croydon experienced a 24% increase in microbusiness numbers, surpassing the rest of London and ranking third nationwide. This surge underscores the area's entrepreneurial spirit and its role in driving local economic development.
Discover how Croydon is leading the UK's microbusiness growth
Women-Led Businesses on the Rise in Australia and Canada
Recent findings from GoDaddy's Venture Forward research highlight the impressive growth of female-led microbusinesses across Australia and Canada, emphasizing their resilience, innovation, and increasing economic impact.
Women now run 44% of Australia's microbusinesses, with 57% of these ventures established within the past five years. Notably, over 27% of female entrepreneurs are the primary income earners for their households, showcasing a significant shift toward gender diversity in the country's entrepreneurial landscape.
Explore the full article
Similarly, 43% of Canada's microbusinesses are led by women, with 48% of these ventures launched in the last five years. Remarkably, 26% of female entrepreneurs are the main breadwinners for their households, while 33% report monthly revenues exceeding $5,000. Leveraging technology, 46% believe AI will enhance their competitiveness with larger companies through content creation, strategic insights, and more.
Dive deeper into Canada's story here
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SOURCE: GoDaddy
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