GoDaddy Venture Forward: 2024 Annual Report

2024 Uncovers A New Age For Global Online Entrepreneurs

Small and microbusinesses boomed in 2024, expanding their reach and impact. Agile entrepreneurs harnessed cutting-edge tech to seize opportunities, fueling growth and innovation. These nimble ventures now fuel local economies. They create jobs and strengthen communities. Their resilience and adaptability are changing the business world. They are forging connections and shaping a new economy. This groundswell of entrepreneurial spirit promises a more vibrant, interconnected marketplace for all.

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Joanne Diver

The Backyard Garden Enthusiast

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GoDaddy logo GoDaddy Venture Forward
Updated Mon Nov 4, 2024

GoDaddy Venture Forward 2024 Annual Report

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Read the Full Report

Below is an executive summary of key findings and excerpts from the GoDaddy Venture Forward annual report, including an interactive map with microbusiness data points over time on digital businesses with typically fewer than 10 employees. We invite you to explore and download the full report for extended insights and an exclusive dive into what’s happening with online entrepreneurs in 2024.
Report Sections

Select a country to see specific findings from the report:

Microbusinesses are growing

In 2024, microbusinesses are thriving from busy U.S. cities to remote Australian towns. By adopting digital technology and AI, these small entrepreneurs surpass larger companies. Their hard work is driving post-pandemic recovery in Australia, Canada, the United Kingdom, and the United States. Innovative solutions and cutting-edge tools empower small players to set new industry standards. As markets evolve quickly, these agile firms lead the charge. Each bold move reshapes global commerce.

Select a time period and metric to visualize below

AU Microbusiness Density Map

Map of Australia
Microbusiness Density
Low High

Ranking regions by the growth in the number of their microbusinesses over the last year points to other interesting trends. While some of the largest areas show up in the top ten, a lot of movement and momentum is found in smaller SA4s around the country – from Wide Bay (Queensland) to Shepparton (Victoria).

Source: GoDaddy Venture Forward 2022-2024

Every year, the GoDaddy Venture Forward report also shares annual changes in e-commerce trends in terms of revenue, number of orders, or number of sellers by industry, as self-reported by the website owner. These insights underscore interesting trends, such as the peak of wedding-related services post-pandemic, and then a continual decrease since then.

Source: GoDaddy Venture Forward 2023-2024

Key Entrepreneur Insights

Since 2019, GoDaddy Venture Forward has surveyed over 50,000 microbusiness owners with a GoDaddy domain and active website. Across the Australia, Canada, U.K. and the U.S., most of these businesses have fewer than 10 employees, with a large portion being solo entrepreneurs. Despite their size, they are agile and resilient, consistently adopting digital solutions to adapt to changing economic conditions.

Microbusinesses are thriving, fueled by a blend of resilience and the innovative power of AI. Despite economic fluctuations, entrepreneurs remain optimistic about their ventures, betting on their ability to adapt and succeed in any climate. States like Queensland and Victoria exemplify this growth, with many microbusinesses planning to expand their teams in the coming year. This trend highlights not only the growth potential of digital microbusinesses but also how AI tools empower these small enterprises to innovate, scale, and thrive, even in a challenging economic environment.

Positive outlook for my business vs. the economy.
Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​

Entrepreneurs in the microbusiness sector are driven by a diverse range of motivations—from the desire for autonomy and flexibility to a passion for their hobbies and causes. Digital entrepreneurship enables them to not only make a living but also create a fulfilling life. Their ambitions vary widely, and nearly three-quarters of these entrepreneurs are already generating income, with many identifying as serial entrepreneurs; one in four currently manages multiple businesses. This dynamic landscape showcases the resourcefulness and adaptability of microbusinesses, empowered by technology and AI, as they navigate and flourish in today’s economy.

Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​
Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)
Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​

Microbusinesses also have the power to close economic and gender gaps. In the last 5 years, women have grown 12% when it comes to the proportion of new business starts, and now make up half of all surveyed entrepreneurs. Over one in four are the breadwinners contributing more than 51% of their household income.

Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​
Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​
Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​

Microbusinesses are showing resilience and optimism. They are growing by adapting to AI technologies in a tough economy. These entrepreneurs face challenges. But, they are not just surviving; they are thriving. They have an unshakeable belief in their ability to shape their futures.

Almost one in three business owners who previously sold a venture without a profit currently support their households. This shows their immense pressure and high stakes. For them, success is vital for family well-being. This need drives their pursuit of growth.

Microbusiness owners are increasingly turning to AI, with more than half now comfortable using it in their operations. This technological shift reflects a broader trend of adaptation and innovation. For 35% of GenAI adopters for their business, the payoff is tangible: increased revenue. AI tools help small businesses work faster, be more efficient, and stay competitive. As challenges grow, tiny businesses tap into AI’s power. This shows that adapting to change brings real benefits in today’s fast-moving market.

AI integration goes beyond a growth strategy – it’s a lifeline for entrepreneurs who refuse to give up. Driven by optimism, they’re using technology to overcome obstacles and build sustainable businesses. By adopting these advancements, microbusinesses are starting a new era of entrepreneurship. This era is defined by innovation, adaptability, and a drive for success for themselves and their families.

Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​
Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​
Source: GoDaddy Venture Forward Australia National Survey. July 2024 (N-= 2,256)​

Microbusinesses are growing

In 2024, microbusinesses are thriving from busy U.S. cities to remote Canadian communities. By adopting digital technology and AI, these small entrepreneurs surpass larger companies. Their hard work is driving post-pandemic recovery in Australia, Canada, the United Kingdom, and the United States. Innovative solutions and cutting-edge tools empower small players to set new industry standards. As markets evolve quickly, these agile firms lead the charge. Each bold move reshapes global commerce.

Select a time period and metric to visualize below

CA Microbusiness Density Map

Microbusiness Density
Low High

Ranking provinces by the growth in the number of their microbusinesses over the last year points to other interesting trends. While the more populated provinces show up in the top ten, a lot of movement and momentum is found in provinces of various sizes and around the country – from New Brunswick to Manitoba.

Source: GoDaddy Venture Forward 2022-2024

Every year, the GoDaddy Venture Forward report also shares annual changes in e-commerce in terms of revenue, number of orders, or number of sellers by industry, as self-reported by the website owner. These insights underscore interesting trends, such as the decline of travel, but major growth in public spaces, agriculture and wedding website purchases.

Source: GoDaddy Venture Forward 2023-2024

Key Entrepreneur Insights

Since 2019, GoDaddy Venture Forward has surveyed over 50,000 microbusiness owners with a GoDaddy domain and active website. Across Australia, Canada, the United Kingdom, and the United States, most of these businesses have fewer than 10 employees, with a large portion being solo entrepreneurs. Despite their size, they are agile and resilient, consistently adopting digital solutions to adapt to changing economic conditions.

Microbusinesses are thriving, fueled by a blend of resilience and the innovative power of AI. Despite economic fluctuations, entrepreneurs remain optimistic about their ventures, betting on their ability to adapt and succeed in any climate. Regions around the country exemplify this growth, with many microbusinesses planning to expand their teams in the coming year. This trend highlights not only the growth potential of digital microbusinesses but also how AI tools empower these small enterprises to innovate, scale, and thrive, even in a challenging economic environment.

Positive outlook for my business vs. the economy.
Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​

Entrepreneurs in the microbusiness sector are driven by a diverse range of motivations—from the desire for autonomy and flexibility to a passion for their hobbies and causes. Digital entrepreneurship enables them to not only make a living but also create a fulfilling life.

Over half of these entrepreneurs are already generating income, with many identifying as serial entrepreneurs; one in four currently manages multiple businesses. This dynamic landscape showcases the resourcefulness and adaptability of microbusinesses, empowered by technology and AI, as they navigate and flourish in today’s economy.

Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​
Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​
Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​

Microbusinesses also have the power to close economic and gender gaps. In the last four years, women have grown 6% when it comes to the proportion of new business starts, and now make up half of all surveyed entrepreneurs. Over one in four are the breadwinners contributing more than 51% of their household income, and out of all the business owners with children, over half are women.

Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​
Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​
Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​

Microbusinesses are showing resilience and optimism. They are growing by adapting to AI technologies in a tough economy. These entrepreneurs face challenges. But, they are not just surviving; they are thriving. They have an unshakeable belief in their ability to shape their futures.

About one in three business owners who previously sold a venture without a profit currently support their households. This shows their immense pressure and high stakes. For them, success is vital for family well-being. This need drives their pursuit of growth.

Microbusiness owners are increasingly turning to AI, with more than half now comfortable using it in their operations. This technological shift reflects a broader trend of adaptation and innovation. For 40% of GenAI adopters for their business, the payoff is tangible: increased revenue. AI tools help small businesses work faster, be more efficient, and stay competitive. As challenges grow, tiny businesses tap into AI’s power. This shows that adapting to change brings real benefits in today’s fast-moving market.

AI integration goes beyond a growth strategy – it’s a lifeline for entrepreneurs who refuse to give up. Driven by optimism, they’re using technology to overcome obstacles and build sustainable businesses. By adopting these advancements, microbusinesses are starting a new era of entrepreneurship. This era is defined by innovation, adaptability, and a drive for success for themselves and their families.

Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​
Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​
Source: GoDaddy Venture Forward Canada National Survey. July 2024 (N-= 3,101)​

Microbusinesses are growing

In 2024, microbusinesses are thriving from busy U.S. cities to remote U.K. communities. By adopting digital technology and AI, these small entrepreneurs surpass larger companies. Their hard work is driving post-pandemic recovery in Australia, Canada, the United Kingdom, and the United States. Innovative solutions and cutting-edge tools empower small players to set new industry standards. As markets evolve quickly, these agile firms lead the charge. Each bold move reshapes global commerce.

Select a time period and metric to visualize below

UK Microbusiness Density Map

Microbusiness Density
Low High

Ranking the constituencies by the growth in the number of their microbusinesses over the last year points to other interesting trends. Ahead of some major areas like the cities of London and Westiminster coming in 13th in the ranking, a lot of movement and momentum is found in smaller constituencies – from Stoke-on-Trent Central to Croydon Central, catching up to Croydon South. St Albans continues to be strong in microbusiness density with over 9 microbusinesses per 100 people.

Source: GoDaddy Venture Forward 2024

Every year, the GoDaddy Venture Forward report also shares annual changes in e-commerce activity in terms of revenue, number of orders, or number of sellers by industry, as self-reported by the website owner. These insights underscore interesting trends, such as the peak of public spaces post-pandemic, and then a continual decrease since then, but a major rise in software/IT.

Source: GoDaddy Venture Forward 2023-2024

Microbusinesses make major economic impact

In 2023, together with Frontier Economics, we first revealed the outsized economic impact made by microbusinesses.

We uncovered that they increased jobs, annual pay, and GDP. Specifically, a 10% year-on-year increase in microbusiness density leads to an annual £320 increase in median annual pay for full-time workers, and the job impact has continued with about five jobs per resident created for every additional microbusiness.

Source: GoDaddy Venture Forward U.K. and Frontier Economics Analysis of UK Public Data

Key Entrepreneur Insights

Since 2019, GoDaddy Venture Forward has surveyed over 50,000 microbusiness owners with a GoDaddy domain and active website. Across Australia, Canada, U.K. and the U.S., most of these businesses have fewer than 10 employees, with a large portion being solo entrepreneurs. Despite their size, they are agile and resilient, consistently adopting digital solutions to adapt to changing economic conditions.

Microbusinesses are thriving, fueled by a blend of resilience and the innovative power of AI. Despite economic fluctuations, entrepreneurs remain optimistic about their ventures, betting on their ability to adapt and succeed in any climate. Regions like the seaside exemplify this growth, with many microbusinesses planning to expand their teams in the coming year. This trend highlights not only the growth potential of digital microbusinesses but also how AI tools empower these small enterprises to innovate, scale, and thrive, even in a challenging economic environment.

Positive outlook for my business vs. the economy.
Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)​

Entrepreneurs in the microbusiness sector are driven by a diverse range of motivations—from the desire for autonomy and flexibility to a passion for their hobbies and causes. Digital entrepreneurship enables them to not only make a living but also create a fulfilling life. Remarkably, over two-thirds of these entrepreneurs are already generating income, with many identifying as serial entrepreneurs; one in three currently manages multiple businesses. This dynamic landscape showcases the resourcefulness and adaptability of microbusinesses, empowered by technology and AI, as they navigate and flourish in today’s economy.

Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)​
Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)​
Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)​

Microbusinesses also have the power to close economic and gender gaps. In the last three years, women-owned microbusinesses have grown 6% and almost one-third are the breadwinners contributing more than 51% of their household income.

Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)
Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)​

Microbusinesses are showing resilience and optimism. They are growing by adapting to AI technologies in a tough economy. These entrepreneurs face challenges. But, they are not just surviving; they are thriving. They have an unshakeable belief in their ability to shape their futures.

One in three business owners who previously sold a venture without a profit current support their households. This shows their immense pressure and high stakes. For them, success is vital for family well-being. This need drives their pursuit of growth.

Microbusiness owners are increasingly turning to AI, with more than half now comfortable using it in their operations. This technological shift reflects a broader trend of adaptation and innovation. For 78% of GenAI adopters for their business, the payoff is expected: increased revenue. AI tools help small businesses work faster, be more efficient, and stay competitive. As challenges grow, tiny businesses tap into AI’s power. This shows that adapting to change brings real benefits in today’s fast-moving market.

AI integration goes beyond a growth strategy – it’s a lifeline for entrepreneurs who refuse to give up. Driven by optimism, they’re using technology to overcome obstacles and build sustainable businesses. By adopting these advancements, microbusinesses are starting a new era of entrepreneurship. This era is defined by innovation, adaptability, and a drive for success for themselves and their families.

Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)​
Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)​
Source: GoDaddy Venture Forward U.K. National Survey. May 2024 (N-= 2,153)​

Microbusinesses are growing

In 2024, microbusinesses are thriving from busy U.S. cities to remote U.K. communities. By adopting digital technology and AI, these small entrepreneurs surpass larger companies. Their hard work is driving post-pandemic recovery in Australia, Canada, the United Kingdom, and the United States. Innovative solutions and cutting-edge tools empower small players to set new industry standards. As markets evolve quickly, these agile firms lead the charge. Each bold move reshapes global commerce.

Select a time period and metric to visualize below

US Microbusiness Density Map

Microbusiness Density
Low High

Ranking states by the growth in the number of their microbusinesses over the last year points to other interesting trends. While the largest states, known for their technology hubs, like New York, California, and Florida, show up in the top ten, a lot of movement and momentum is found in states of various sizes and around the country – from Delaware and Oklahoma to Washington.

Source: GoDaddy Venture Forward 2019-2024
Source: GoDaddy Venture Forward 2019-2024
Source: GoDaddy Venture Forward 2019-2024

Every year, the GoDaddy Venture Forward report shares annual changes in e-commerce activity in terms of revenue, number of orders, or number of sellers by industry, as self-reported by the website owner. These insights underscore interesting trends, such as the peak of wedding-related services post-pandemic, and then a continual decrease since then.

Source: GoDaddy Venture Forward 2024

Microbusinesses make major economic impact

In 2021, we first revealed the outsized economic impact made by microbusinesses.

Together with economists and academic researchers, we uncovered that they drove up jobs and annual household median incomes, and drove down unemployment. Specifically, the job impact has grown from two or more jobs created for every microbusiness in 2020, to over seven jobs for every microbusiness entrepreneur on a county-level.

Source: GoDaddy Venture Forward and U.S. Census

Key Entrepreneur Insights

Since 2019, GoDaddy Venture Forward has surveyed over 50,000 microbusiness owners with a GoDaddy domain and active website. Across Australia, Canada, U.K. and the U.S., most of these businesses have fewer than 10 employees, with a large portion being solo entrepreneurs. Despite their size, they are agile and resilient, consistently adopting digital solutions to adapt to changing economic conditions.

Microbusinesses are thriving, fueled by a blend of resilience and the innovative power of AI. Despite economic fluctuations, entrepreneurs remain optimistic about their ventures, betting on their ability to adapt and succeed in any climate. Regions like the South and Midwest in the U.S. exemplify this growth, with many microbusinesses planning to expand their teams in the coming year. This trend highlights not only the growth potential of digital microbusinesses but also how AI tools empower these small enterprises to innovate, scale, and thrive, even in a challenging economic environment.

Positive outlook for my business vs. the economy
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)​
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)​
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)

Entrepreneurs in the microbusiness sector are driven by a diverse range of motivations—from the desire for autonomy and flexibility to a passion for their hobbies and causes. Digital entrepreneurship enables them to not only make a living but also create a fulfilling life. Their ambitions vary widely: while over one-third prefer to remain solo, one in five aspire to scale their businesses to mid- or enterprise-sized operations. Remarkably, nearly three-quarters of these entrepreneurs are already generating income, with many identifying as serial entrepreneurs; one in three currently manages multiple businesses. This dynamic landscape showcases the resourcefulness and adaptability of microbusinesses, empowered by technology and AI, as they navigate and flourish in today’s economy.

Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)​
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)​

Microbusinesses also have the power to close economic and gender gaps. In the last 5 years, women-owned microbusinesses have grown 10% to now being over half of all surveyed entrepreneurs. Almost one-third are the breadwinners contributing more than 51% of their household income, and Black women continue to be the fastest growing demographic of microbusiness owners.

Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)​
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)

Microbusinesses are showing resilience and optimism. They are growing by adapting to AI technologies in a tough economy. These entrepreneurs face challenges. But, they are not just surviving; they are thriving. They have an unshakeable belief in their ability to shape their futures.

Four in ten business owners who didn’t sell their previous venture at a profit currently support their households. This shows their immense pressure and high stakes. For them, success is vital for family well-being. This need drives their pursuit of growth.

Microbusiness owners are increasingly turning to AI, with more than half now comfortable using it in their operations. This technological shift reflects a broader trend of adaptation and innovation. For 36% of GenAI adopters for their business, the payoff is tangible: increased revenue. AI tools help small businesses work faster, be more efficient, and stay competitive. As challenges grow, tiny businesses tap into AI’s power. This shows that adapting to change brings real benefits in today’s fast-moving market.

AI integration goes beyond a growth strategy – it’s a lifeline for entrepreneurs who refuse to give up. Driven by optimism, they’re using technology to overcome obstacles and build sustainable businesses. By adopting these advancements, microbusinesses are starting a new era of entrepreneurship. This era is defined by innovation, adaptability, and a drive for success for themselves and their families.

Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)
Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)​

About GoDaddy Venture Forward

A

research initiative launched in 2018 that quantifies the growth and economic impact of over 20 million global online microbusinesses, and provides a unique view into the attitudes, demographics, and needs of these entrepreneurs.

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Venture Forward is a research initiative that quantifies the impact that 20+ million online microbusinesses have on their local economies, and provides a unique view into the attitudes, demographics, and needs of entrepreneurs.