Powerful. Uplifting. Encouraging. Incredible. These, among many others, are words I would use to describe the GoDaddy Open event in Baltimore.
Black women have started nearly 20% of microbusinesses since the pandemic began, three times their share of the U.S. population. And in-spite of facing disproportional odds, 92% of surveyed Black female founders were more optimistic about the next 3 months, compared to 72% of other founders who were surveyed.
The COVID-19 pandemic delivered a massive shock to America’s workers – one result of this was a burst of microbusiness startups. But because microbusiness patterns of growth vary from state to state and community to community, local economic development officials need to understand these entrepreneurs in order to help them succeed.
In 2022 Venture Forward, GoDaddy’s research initiative launched several new metrics available for download on our website. One of these, the Microbusiness Activity Index, assess how connected and active the community is in terms of online business activity. Using this metric, we’ve uncovered some important relationships between how robust an online microbusiness community is, and the economic outcomes in their respective communities.
While an influx of people increases economic activity, attracting newcomers gives an extra economic kick as these newcomers tend to create new microbusinesses.
With more than 2.8 million online microbusinesses launching just last year in the U.S., now is the time to consider policies to target the entrepreneurs’ specific needs.
A helping hand from government and better networking could further their success.
Government programs can be effective, but only if entrepreneurs know about them. Hundreds of cities across the country offer programs […]
Many Americans responded to the economic turbulence of recent years by starting microbusinesses. While all of these everyday entrepreneurs need to be scrappy, ambitious and optimistic, one demographic group stands out for these qualities: those under the age of 30.
See 8 key findings on today’s microbusiness entrepreneur with the 2022 Microbusiness National Survey Results Infographic.