{"id":6181,"date":"2023-05-25T02:26:12","date_gmt":"2023-05-25T02:26:12","guid":{"rendered":"https:\/\/pagely-test.frontdoor.godaddy.com\/ventureforward\/?p=6181"},"modified":"2023-05-25T17:00:10","modified_gmt":"2023-05-25T17:00:10","slug":"black-owned-business-starts-surge-says-godaddy-study","status":"publish","type":"post","link":"https:\/\/www.godaddy.com\/research\/black-owned-business-starts-surge-says-godaddy-study\/","title":{"rendered":"Black-Owned Business Starts Surge, Says GoDaddy Study"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\">Black Americans are gaining share in the online microbusiness economy. While this demographic faces unique challenges, Black online microbusiness owners are more optimistic than their peers.\u202f<\/h4>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"has-black-color has-text-color\"><em>Microbusinesses are defined as companies with fewer than 10 employees, a unique domain, and an active website.\u202f&nbsp;<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"658\" src=\"https:\/\/www.godaddy.com\/research\/wp-content\/uploads\/2023\/05\/Rising-Above-The-Challenges-1-1024x658.jpg\" alt=\"\" class=\"wp-image-6238\" srcset=\"https:\/\/www.godaddy.com\/research\/wp-content\/uploads\/2023\/05\/Rising-Above-The-Challenges-1-1024x658.jpg 1024w, https:\/\/www.godaddy.com\/research\/wp-content\/uploads\/2023\/05\/Rising-Above-The-Challenges-1-768x494.jpg 768w, https:\/\/www.godaddy.com\/research\/wp-content\/uploads\/2023\/05\/Rising-Above-The-Challenges-1-1536x987.jpg 1536w, https:\/\/www.godaddy.com\/research\/wp-content\/uploads\/2023\/05\/Rising-Above-The-Challenges-1-320x206.jpg 320w, https:\/\/www.godaddy.com\/research\/wp-content\/uploads\/2023\/05\/Rising-Above-The-Challenges-1-120x77.jpg 120w, https:\/\/www.godaddy.com\/research\/wp-content\/uploads\/2023\/05\/Rising-Above-The-Challenges-1.jpg 2010w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-the-big-fact\">The Big Fact<\/h4>\n\n\n\n<p>Black-owned online microbusinesses now comprise one-sixth of the national total and about 1 in 2 Black-owned online microbusinesses started since 2020, according to GoDaddy\u2019s most recent <a href=\"https:\/\/www.godaddy.com\/research\/spring-2023-us-national-survey-results\/\" data-eid=\"comms.microsites.venture-forward\/link.377ae41221e39bf84cce42efd04d2645\">Venture Forward National Survey<\/a> of online microbusiness owners who are customers. That\u2019s more than <a href=\"https:\/\/www.pewresearch.org\/short-reads\/2023\/02\/21\/a-look-at-black-owned-businesses-in-the-u-s\/#:~:text=Despite%20this%20growth%2C%20businesses%20majority,from%20classifiable%20companies%20that%20year.\" target=\"_blank\" rel=\"noreferrer noopener\" data-eid=\"comms.microsites.venture-forward\/link.5bc445789228ee1006cf7a9a9f9e37b8\">five times the share of the pie<\/a> for Black majority-owners across U.S. businesses of all kinds.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">The Survey<\/h4>\n\n\n\n<p>GoDaddy&#8217;s Venture Forward initiative began in 2018 to quantify the impact of online microbusinesses on their local economies and provide a unique view into the attitudes, demographics, and needs of these entrepreneurs. The U.S. national survey started in 2019 and occurs twice a year, typically capturing responses from over 3,500 entrepreneurs per instance to identify and explore trends, as well as deliver insights to advocates of microbusiness entrepreneurs.&nbsp;&nbsp;<\/p>\n\n\n\n<p>GoDaddy looks at more than 20 million online microbusinesses in the U.S. who have a unique domain and active website. While these microbusinesses may be small, their impact on the U.S. economy is outsized even though they are often too informal or too new to show up in government statistics.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">The Rosier View<\/h4>\n\n\n\n<p>Even though they\u2019re twice as likely to say access to capital is a business challenge, Black microentrepreneurs are <strong>more optimistic about their business outlook<\/strong> (87% vs. 72% for the entire sample). Black microentrepreneurs are also the most likely to have started their business because they <strong>always wanted to be their own boss<\/strong> (33% vs. 23%).\u202f&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Serious Business<\/h4>\n\n\n\n<p>They\u2019re also <strong>more serious about their entrepreneurial intentions<\/strong>, with a greater likelihood of securing\/harboring long-term valuation aspirations. Only 11% of Black microbusiness owners view their business as a side hustle, compared to 77% of White respondents.\u202f&nbsp;<\/p>\n\n\n\n<p>They also take their website and eCommerce even more seriously. Close to half of all Black-owned microbusinesses accept and fulfill sales orders through their website, compared to only 28% overall, per the Venture Forward National Survey.\u202f&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Black Americans are gaining share in the online microbusiness economy. While this demographic faces unique challenges, Black online microbusiness owners are more optimistic than their peers.<\/p>\n","protected":false},"author":15,"featured_media":6228,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-6181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-forward"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Black-Owned Business Starts Surge, Says GoDaddy Study - Small Business Research Lab<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.godaddy.com\/research\/black-owned-business-starts-surge-says-godaddy-study\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Black-Owned Business Starts Surge, Says GoDaddy Study - Small Business Research Lab\" \/>\n<meta property=\"og:description\" content=\"Black Americans are gaining share in the online microbusiness economy. 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