Venture Forward

Venture Forward is a multiyear research effort to quantify the impact online microbusinesses have on their local economies.

How does your community stack up?

GoDaddy has captured the presence and impact of over 20 million online microbusinesses in the U.S. Each one helps create jobs, boost annual household income growth, and support economic resiliency. See how many are in your city.

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    Austin, TX

    Please note, this default view is preselected randomly and not specific to your city.

    Microbusinesses are different from medium and large-sized businesses, and even from other small businesses. Historically, there has been little data available to capture their impact on local economies or their needs and behavior - even though they are all around us.

    The Business Makeup of Your City

    Austin, TX
    National Average

    Source: U.S. Census (2019)

    Did you know?

    Adding one new microbusiness per 100 people is associated with a range of benefits:

    Here’s a closer look at your city and the distribution of microbusinesses

    In order to compare different cities systematically, we created a unique unit of measurement that we call Venture Density, which captures the number of digital microbusinesses per 100 people. Below is that view by zip code, from lightest to darkest shade representing least to strongest density.

    Austin, TX
    Austin, TX

    Microbusiness Density

    • Bottom 20%
    • 20%-40%
    • 40%-60%
    • 60%-80%
    • Top 20%
    Austin, TX

    Microbusiness Density

    • Top 25%
    • 26%-50%
    • 51%-75%
    • 76%-100%
    Austin, TX

    Microbusiness Density

    • Top 33%
    • 34%-66%
    • 67%-100%
    Austin, TX Large Metro Center Average Austin, TX Relative to Peer Cities*** Austin, TX Relative to All Cities in Dataset
    Change in Microbusiness Density* -7% -5% -26% -15%
    Broadband Subscription 78% 73% 7% 6%
    Median Household Income $82,539 $65,398 26% 25%
    Average Monthly Housing Cost $1,521 $1,266 20% 22%
    Population with a 4-year degree 53% 35% 49% 53%
    Population Living in Poverty 13% 16% -19% -16%
    Unemployed in Respective County** 5% 7% -24% -22%
    Population 1,965,133.0 683,820.0 187% 374%
    3-Year Population Growth 4% 1% 184% 218%
    * Q1 2020 - Q2 2021, Per 100 People, GoDaddy proprietary data ** June 2021, Bureau of Labor Statistics, monthly unemployment estimates *** Peer Cities by Population: Small Population 0-50k, Medium 50-250k, Large 250k+

    These four factors help create more microbusinesses, which increases your city’s economic resiliency.

    Affordable Broadband

    Key Stats

    1 in 2 microbusinesses conduct business both online and in-store, with 37% online only - highlighting the importance of access to broadband as a foundational need for these entrepreneurs.
    • 60% of owners said having a website for their business during COVID-19 helped in some way.
    • 15% year over year increase in microbusinesses doing business online from 2019 to 2020.
    • 23% of microbusinesses said that it helps communicate changes to their customers.
    • 8% of microbusiness owners said having inclusive broadband helped them start a new business.

    Source: GoDaddy U.S. National Survey July 2020, 2300+ respondents

    Source: GoDaddy Venture Forward Research (2018-2021)

    Affordable Broadband

    Resources

    EveryoneOn

    EveryoneOn is a national nonprofit organization working to eliminate the digital divide to deliver free and affordable technology and training to all Americans.

    BroadBandNow

    BroadbandNow is a data aggregation company helping millions of consumers find and compare local internet options.

    National Digital Inclusion Alliance

    National Digital Inclusion Alliance (NDIA) is a US nonprofit organization that brings together over 300 non-profit organizations, policy-makers, and academics to advocate for national access to broadband and to put an end to the multiple digital divides.

    Federal Reserve Small Business

    The Federal Reserve System includes small business research and analysis by the 12 Reserve Banks

    Aspen Institute

    The Aspen Institute's Future of Work division provides guidance to local government stakeholders on non-traditional work and portable benefits for microentrepreneurs.

    Contributing Partner

    Affordable Broadband

    Use Case

    Access to Capital

    Key Stats

    40% of microbusiness owners surveyed said that said access to capital is one of the biggest challenges when starting a business - leading us to believe that access to capital is very important when starting a new venture.
    • 39% of microbusiness owners needed less than $5,000 to start their business.
    • 33% of microbusiness owners ranked access to capital as the most important resource to grow.
    • 55% of businesses that applied for and received assistance from PPP said it was “very helpful”.
    • 31% of microbusiness owners said access to capital is the number one way local governments can help them be successful.

    Source: GoDaddy U.S. National Survey July 2020, 2300+ respondents

    Source: GoDaddy Venture Forward Research (2018-2021)

    Access to Capital

    Resources

    Mastercard City Insights

    Mastercard City Insights is curated marketplace of apps and services addressing urban challenges, provided by a network of technology, knowledge and social impact partners.

    Microfinance Impact Collaborative

    BOI's Microfinance Impact Collaborative works to inform, strengthen, and accelerate the efforts of U.S. microenterprise finance organizations that are committed to significantly increasing the impact of their work.

    Kauffman Access to Capital Lab

    The Capital Access Lab is a national pilot initiative aiming to find, promote, and scale innovative investment managers, providing new kinds of capital to underserved entrepreneurs and communities in the United States.

    Opportunity Finance Network

    Opportunity Finance Network is the leading network of community development financial institutions with expertise lending in markets often overlooked by conventional financial institutions.

    Venturize

    Venturize.org is a free online resource hub for small business owners that need help accessing tools and information to sustain and grow their businesses.

    Connect2Capital

    Connect2Capital is a collaborative online lending network that links mission-driven lenders to small businesses seeking responsible capital.

    Kiva

    Kiva offers a plug-in microlending partnership model for small business support centers, city governments, and CDFIs in communities and cities with an expressed gap in affordable financing options.

    Indiegogo

    Indiegogo allows people to solicit funds for an idea, charity, or startup business.

    SMBX

    SMBX is a marketplace for buying small business financial securities.

    Contributing Partner

    Access to Capital

    Use Case

    Skills Training

    Key Stats

    24% of microbusiness owners surveyed indicated “Planning & Management Expertise” is one of the most important resources needed to grow - leading us to believe that increasing skills training is very important when starting a new venture.
    • 39% of microbusiness owners needed less than $5,000 to start their business.
    • 17% of venture owners said “Marketing” is the number one way local governments can help ventures be successful.
    • 31% of survey respondents said “Marketing” was the top challenge when starting a business.
    • 11% of survey respondents said “Getting Business Online” was the 3rd biggest challenge when starting a business.

    Source: GoDaddy U.S. National Survey July 2020, 2300+ respondents

    Source: GoDaddy Venture Forward Research (2018-2021)

    Skills Training

    Resources

    Empower

    Empower is GoDaddy’s global community and philanthropic program equipping entrepreneurs in underserved communities with training, tools and peer networks to accelerate their journeys.

    AEO

    The Association for Enterprise Opportunity (AEO) is a national membership organization and voice of microbusiness development in the United States.

    Main Street America

    Main Street America equips downtown and commercial district leaders with the tools needed to lead results-oriented and preservation-based community revitalization organization.

    SourceLink

    SourceLink connects entrepreneurs, startups, and small businesses to the resources they need to start and grow businesses better and faster.

    Ecomap

    EcoMap is an online hub for entrepreneurs, creators, and community builders, with a resource repository, service ratings, community discussion board, and networking opportunities.

    Skin Inc. Resource Hub

    Resource Hub is an online platform aggregating small business and entrepreneurship resources across the country.

    TechRise

    TechRise by P33 is a multi-stakeholder initiative supporting Chicago's Black and Latinx tech founders with community, capital, and connections for every stage of your business.

    Contributing Partner

    Skills Training

    Use Case

    Portable Benefits

    Key Stats

    40% of microbusiness owners surveyed said that said they started their business while still employed - leading us to believe that portable benefits is very important when starting a new venture.
    • 39% of survey respondents are currently fully employed by their microbusiness.
    • 23% of survey respondents were unemployed prior to starting their microbusiness.
    • 71% of survey respondents were employed before starting their microbusiness venture.
    • 28% of respondents rated “Affordable Options for Health Insurance” as one of the 3 biggest challenges when starting a business.

    Source: GoDaddy U.S. National Survey July 2020, 2300+ respondents

    Source: GoDaddy Venture Forward Research (2018-2021)

    Portable Benefits

    Resources

    Aspen Institute Future of Work - Non-Traditional Work and Portable Benefits

    The Aspen Institute Future of Work includes resources for policy makers who consider policy actions to expand access to portable benefits

    Federal Reserve Small Business

    The Fed Small Business site includes small business research and analysis by the 12 Reserve Banks of the Federal Reserve System.

    Aspen Institute

    The Aspen Institute's Business Ownership Initiative works with micro and small business practitioners and their investors to build knowledge and strengthen capabilities.

    JPMorgan Chase Institute

    The JPMorgan Chase Institute small business data asset provides a novel view of daily revenues, expenses, and financing for individual small businesses.

    Brookings Institution

    The Brookings Institution is a nonprofit public policy organization. Its economic opportunity arm is focused on entrepreneurship and small business development.

    Contributing Partner

    Portable Benefits

    Use Case

    Contributing Partner

    Building a better future for small business

    Research Partners

    Connect With Us

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