The Outsized Impact of Everyday Entrepreneurs
What Ventures are:
A venture is a discrete domain name with an active website. It can be a business, non-profit, cause, or idea and have services like email, payments, or security attached. Many GoDaddy customers have more than one venture. For complete Venture Forward definitions and FAQs click here.
Across similar communities, adding 1 venture per 100 people is associated with:
Higher annual gains in median household income
Increase in Median Household Income
From 2016-2018, annual household median income increased nationally an average change of $3,606 across all counties. Adding 1 highly active venture per 100 people would add $408 per household, or an increase of 11.3%. The chart above shows that increase across three types of counties.
Lower unemployment rates
Decrease in Percentage Point Unemployment Rate
Adding 1 additional venture per 100 people is associated with reducing unemployment by .05 percentage points. The average unemployment rate in the U.S. in 2018 was 4% across all counties. Adding 1 venture could take it down to 3.95%, or a reduction of 1.3%.
Stronger Recovery from the Great Recession
Increase in Recession Recovery Score
On average, counties with 2.2 or more highly-active ventures per 100 people are in the positive Recession Recovery* range. Adding 1 highly-active venture would add 3.75 points to the mean of -3.2 across all 3000+ counties. *Recession Recovery is measured as the change in Prosperity (2007-2011) and (2012-2018)
These results are updated with 2018 U.S. Census and 2019 unemployment figures and calculations. All data sources can be found and downloaded in the Research section.