{"id":6514,"date":"2023-12-19T09:00:00","date_gmt":"2023-12-19T14:00:00","guid":{"rendered":"https:\/\/pagely-test.frontdoor.godaddy.com\/ventureforward\/?p=6514"},"modified":"2024-02-12T11:18:35","modified_gmt":"2024-02-12T16:18:35","slug":"understand-microbusinesses-better-with-five-insights-from-godaddy-venture-forward","status":"publish","type":"post","link":"https:\/\/www.godaddy.com\/research\/understand-microbusinesses-better-with-five-insights-from-godaddy-venture-forward\/","title":{"rendered":"Understand Microbusinesses Better with Five Insights from GoDaddy Venture Forward\u00a0"},"content":{"rendered":"\n

Life is better as an entrepreneur<\/a>\u2013 a trend revealed via our research of more than 6,000 entrepreneurs. This year, we also learned the American Dream evolved beyond<\/a> home ownership and the smallest of businesses create major economic impacts, Tucson reigns as a great spot for entrepreneurs and business owners in the U.S. and U.K. have more in common than you might think.  <\/p>\n\n\n\n

The research: <\/strong>GoDaddy’s Venture Forwar<\/a>d<\/a> research initiative analyzes 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. <\/p>\n\n\n\n

Since 2018, Venture Forward surveyed more than 30,000 small business owners with a digital presence, making it the source for microbusiness data and insights. Five of which are shared below. <\/p>\n\n\n\n

    \n
  1. Life is better as an entrepreneur. <\/strong> <\/li>\n<\/ol>\n\n\n\n

    Sixty-three percent of entrepreneurs in the U.S. and U.K. agree that \u201clife is better as an entrepreneur.\u201d On the reasons why, they cite: creating a source of income \/ supporting family; connecting to customers; and making an impact in my community.  <\/p>\n\n\n\n

      \n
    1. The American Dream is no longer tethered to homeownership \u2013 now small business owners want to feel happy in life, live a comfortable lifestyle and enjoy the freedom to pursue their passions.<\/strong> <\/li>\n<\/ol>\n\n\n\n
      \"\"<\/figure>\n\n\n\n
      \"\"<\/figure>\n\n\n\n
        \n
      1. Supporting entrepreneurs is one of the only bipartisan issues. <\/strong> <\/li>\n<\/ol>\n\n\n\n

        Mayors are all-in to support their local microbusinesses, and the Mayors of Cleveland and New Orleans Cleveland grew microbusinesses by 20% since 2019 and New Orleans increased microbusinesses by 7% since 2019. The mayors shared their secrets to successfully growing an entrepreneurial community in the panel recap here<\/a>.  <\/p>\n\n\n\n

        \"\"<\/figure>\n\n\n\n
          \n
        1. Tucson welcomes entrepreneurs to learn and grow. <\/strong> <\/li>\n<\/ol>\n\n\n\n

          With more than 630,000 microbusinesses in Arizona, Tucson is a hub with more than 50,000 of them. Tucson averages at least seven microbusinesses per 100 adults \u2013 growing 8% since 2019. Find out more about entrepreneurship in Tucson through TENWEST<\/a>.  <\/p>\n\n\n\n

            \n
          1. Microbusiness, major impact.<\/strong> <\/li>\n<\/ol>\n\n\n\n

            U.S. household median income increases by almost $500 per year<\/strong> for each additional microbusinesses per 100 people in a county. In the U.K., people earn \u00a31,400 more in median annual pay<\/strong> for full-time workers in constituencies with a 1% higher concentration of digital microbusinesses. <\/p>\n\n\n\n

            Every U.S. microbusiness and U.K. microbusiness entrepreneur adds about seven new jobs<\/strong> on a county-level or constituency-level through hiring and local spending. <\/p>\n\n\n\n

            Stay updated on the latest Venture Forward data by subscribing to our LinkedIn newsletter<\/a> and download all reports mentioned above via our website.<\/a>  <\/p>\n","protected":false},"excerpt":{"rendered":"

            Life is better as an entrepreneur\u2013 a trend revealed via our research of more than 6,000 entrepreneurs. 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