Originally published on GoDaddy (NYSE:) Newsroom
TEMPE, Arizona / ACCESSWIRE / April 4, 2024 / According to new research from GoDaddy and UCLA Anderson Forecast, entrepreneurship is booming, and online microbusinesses – those with 10 or fewer employees, a domain, and an active website – are creating jobs and reducing unemployment rates across the board. the United States.
This means:
- At the county level, each microbusiness entrepreneur is correlated with seven additional jobs by hiring directly, indirectly or by creating more demand and spending more in their communities.
- The addition of 1,000 new microbusiness entrepreneurs in a county is associated with a 0.11 percentage point decline in the unemployment rate. This means that studying Miami-Dade County in Florida, with nearly 430,000 microbusinesses and 2.1 million people over the age of 18, adding just 1,000 entrepreneurs would reduce the region’s unemployment rate by nearly 7 percent (from 1.6% to 1.49%).
“We learned that online businesses with 10 or fewer employees are creating more jobs than ever before: up to seven jobs for each business owner, up from just two a few years ago,” said Alexandra Rosen, senior director of Venture Forward. “Our findings show how even the smallest businesses can significantly reduce unemployment rates in communities across the country.”
Explore the data in full Here and find out more in the blog post Here. For more information on the state of microbusinesses in the country, visit www.godaddy.com/ventureforward.
About GoDaddy Venture Forward
GoDaddy’s Venture Forward 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, classifying each as a microbusiness. While these microbusinesses may be small, their impact on economies is enormous, even though they are often too informal or too new to appear in traditional government statistics. To learn more about GoDaddy’s Venture Forward research, visit www.godaddy.com/ventureforward
About GoDaddy
GoDaddy (NYSE: GDDY) helps millions of entrepreneurs around the world start, grow and scale their businesses. People turn to GoDaddy to name their idea, create a professional website, attract customers, sell products and services, and accept payments online and in person. GoDaddy’s easy-to-use tools help microbusiness owners manage everything in one place, and its expert guides are available to provide assistance 24/7. To learn more about the company, visit www.GoDaddy.com.
UCLA Anderson forecast information
UCLA Anderson Predictions is one of the most followed and oft-cited economic outlooks for California and the nation and has been unique in predicting both the severity of California’s early 1990s recession and the strength of the state’s recovery since 1993. The forecast is was credited as the first major U.S. economic forecasting group to declare the 2001 recession and, in March 2020, was the first to declare that the recession caused by the COVID-19 pandemic had already begun. www.uclaforecast.com
About the UCLA Anderson School of Management
The UCLA Anderson School of Management is among the world’s leading business schools, with faculty renowned around the world for excellence in teaching and research in advancing management thinking. Located in Los Angeles, the gateway to the growing economies of Latin America and Asia and a city that embodies innovation across a broad range of businesses, the UCLA Anderson MBA, the full-employment MBA, the Executive MBA, UCLA-NUS Executive MBA, Master of Financial Engineering, Master of Science in Business Analytics, doctoral and executive education programs embody the school’s Think in the Next ethos. Each year, approximately 1,800 students are trained to become global leaders seeking the business models and community solutions of tomorrow. www.anderson.ucla.edu
Source: GoDaddy Inc.
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