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GoDaddy’s Venture Forward 2024 Annual Report reveals significant growth and impact of online microbusinesses across the US. The research shows that each additional microbusiness per 100 people can reduce unemployment by 0.11 percentage points, with entrepreneurs creating over 7 new jobs at the county level, up from 2 jobs in 2021.
Urban areas showed the highest growth with a 22% 1-year increase and 35% 5-year growth. Among states, Delaware led with 65% yearly growth, followed by Montana (45%) and Nevada (36%). The report highlights substantial industry shifts, with Religion sector showing 286% growth in online orders, while Financial services led revenue growth at 142%. Conversely, Personal Services experienced significant declines in both metrics.
Il Rapporto Annuale 2024 di Venture Forward di GoDaddy svela una significativa crescita e impatto delle microimprese online negli Stati Uniti. La ricerca dimostra che ogni ulteriore microimpresa ogni 100 persone può ridurre la disoccupazione di 0,11 punti percentuali, con gli imprenditori che creano oltre 7 nuovi posti di lavoro a livello di contea, rispetto ai 2 posti di lavoro nel 2021.
Le aree urbane hanno registrato la crescita più alta con un aumento del 22% in un anno e del 35% in cinque anni. Tra gli stati, il Delaware ha guidato con una crescita annuale del 65%, seguito dal Montana (45%) e dal Nevada (36%). Il rapporto evidenzia significativi cambiamenti settoriali, con il settore Religione che mostra una crescita del 286% negli ordini online, mentre i servizi finanziari hanno guidato la crescita dei ricavi con il 142%. Al contrario, i Servizi Personali hanno subito significative diminuzioni in entrambe le metriche.
El Informe Anual 2024 de Venture Forward de GoDaddy revela un crecimiento significativo e impacto de las microempresas en línea en los Estados Unidos. La investigación muestra que cada microempresa adicional por cada 100 personas puede reducir el desempleo en 0.11 puntos porcentuales, con emprendedores creando más de 7 nuevos empleos a nivel de condado, desde 2 empleos en 2021.
Las áreas urbanas mostraron el mayor crecimiento con un aumento del 22% en un año y un 35% en cinco años. Entre los estados, Delaware lideró con un crecimiento anual del 65%, seguido de Montana (45%) y Nevada (36%). El informe destaca cambios sustanciales en la industria, con el sector Religión mostrando un crecimiento del 286% en pedidos en línea, mientras que los servicios financieros lideraron el crecimiento de ingresos con el 142%. En cambio, los Servicios Personales experimentaron descensos significativos en ambas métricas.
고다디의 Venture Forward 2024 연례 보고서는 미국 전역의 온라인 마이크로 비즈니스의 상당한 성장과 영향을 보여줍니다. 연구에 따르면 100명당 추가 마이크로 비즈니스가 생길 때마다 실업률이 0.11%포인트 감소할 수 있으며, 기업가가 카운티 수준에서 2021년 2개 일자리에서 증가하여 7개 이상의 새로운 일 자리를 창출하고 있습니다.
도시 지역은 1년 동안 22%, 5년 동안 35% 증가로 가장 높은 성장을 보였습니다. 주에서는 델라웨어가 65%의 연간 성장률로 선두를 달리고 있으며, 그 뒤를 몬타나(45%)와 네바다(36%)가 따릅니다. 이 보고서는 종교 부문이 온라인 주문에서 286% 성장하는 등의 상당한 산업 변화를 강조하고, 금융 서비스가 142%로 수익 성장률에서 선두를 잡고 있다고 소개합니다. 반면, 개인 서비스는 두 지표 모두에서 상당한 감소를 경험했습니다.
Le Rapport Annuel 2024 de Venture Forward de GoDaddy révèle une croissance significative et un impact des microentreprises en ligne aux États-Unis. La recherche montre que chaque microentreprise supplémentaire pour 100 personnes peut réduire le chômage de 0,11 points de pourcentage, avec des entrepreneurs créant plus de 7 nouveaux emplois au niveau des comtés, contre 2 emplois en 2021.
Les zones urbaines ont montré la plus forte croissance avec une augmentation de 22% en un an et de 35% sur cinq ans. Parmi les états, le Delaware a été en tête avec une croissance annuelle de 65%, suivi par le Montana (45%) et le Nevada (36%). Le rapport souligne des changements sectoriels importants, le secteur religieux affichant une croissance de 286% des commandes en ligne, tandis que les services financiers ont conduit la croissance des revenus avec 142%. En revanche, les services personnels ont connu des baisses significatives dans les deux métriques.
Der Jahresbericht 2024 von Venture Forward von GoDaddy zeigt ein signifikantes Wachstum und den Einfluss von Online-Mikrounternehmen in den USA. Die Forschung zeigt, dass jedes zusätzliche Mikrounternehmen pro 100 Personen die Arbeitslosigkeit um 0,11 Prozentpunkte senken kann, wobei Unternehmer auf Landkreisebene über 7 neue Arbeitsplätze schaffen, von 2 Arbeitsplätzen im Jahr 2021 steigend.
Städtische Gebiete verzeichneten das höchste Wachstum mit einem Anstieg von 22% im Jahr und 35% über fünf Jahre. Unter den Bundesstaaten führte Delaware mit einem jährlichen Wachstum von 65%, gefolgt von Montana (45%) und Nevada (36%). Der Bericht hebt erhebliche Branchenverschiebungen hervor, wobei der Religionssektor ein Wachstum von 286% bei Online-Bestellungen zeigte, während der Finanzdienstleistungssektor beim Umsatzwachstum mit 142% anführte. Im Gegensatz dazu verzeichneten die persönlichen Dienstleistungen signifikante Rückgänge in beiden Kennzahlen.
Positive
- Each microbusiness creates over 7 new jobs at county level, up from 2 in 2021
- Urban areas showed strong growth with 22% 1-year increase
- Delaware achieved 65% yearly microbusiness growth
- Religious sector showed 286% growth in online orders
- Financial services led revenue growth at 142%
Negative
- Personal Services sector declined 51% in online orders
- Writing sector experienced 77% revenue loss
- Food and Drink sector showed negative growth in both orders (-28%) and revenue (-45%)
Insights
This annual report, while comprehensive in data, represents routine ESG reporting and operational metrics without direct financial impact that would move markets. The report primarily focuses on documenting microbusiness trends across regions and industries using GoDaddy’s proprietary Venture Forward research initiative.
While the data shows interesting patterns – like the 142% year-over-year revenue growth in the Financial sector and significant microbusiness growth in states like Delaware (65% growth) – this type of retrospective analysis and ESG reporting typically doesn’t drive stock price movements or immediate investor reactions.
The metrics around job creation (7+ jobs per microbusiness) and unemployment impact (-0.11 percentage points per 100 microbusinesses) are interesting from a macroeconomic perspective but don’t constitute material financial news that would affect GoDaddy’s valuation or market position.
NORTHAMPTON, MA / ACCESSWIRE / December 26, 2024 / GoDaddy
A deep dive into the latest data of online microbusinesses, their outsized impact, and their growth across regions and industries.
As originally published by GoDaddy’s Venture Forward research initiative
Behind GoDaddy Venture Forward
Venture Forward quantifies the presence and impact of over 20 million online microbusinesses on their local economies, providing a unique view into the attitudes, demographics, and needs of the entrepreneurs who create and operate them.
GoDaddy knows that to truly advocate and empower entrepreneurs, you first have to really understand them. In 2018, we began analyzing millions of microbusinesses, which we defined as an entity with a discrete GoDaddy domain and an active website, and the majority of whom have fewer than 10 employees. We measured their effect on household incomes and unemployment, together with renowned academics at the University of Iowa and University of Arizona, and established they had an outsized impact on these and other economic health indicators.
In 2019, we began surveying the entrepreneurs who own these ventures, nationally and across cities, at least once a year, to better understand their mindsets and circumstances.
In 2020, we built a proprietary Microbusiness Activity Index and established causality with economists at the UCLA Anderson Forecast. We also created a data hub to update and share our data publicly so those advocating for and studying entrepreneurs could access more information, including measurements of microbusiness density by geography, down to the ZIP code. We update this data on a quarterly basis.
In 2021, we expanded our research to the United Kingdom, and this year, in 2024, we added Australia and Canada to our regularly updated data sets including regional and survey insights.
For more details on our research methodology and other findings, please read About Us on the Venture Forward website.
“Microbusinesses are creating jobs. They’re hiring directly as they grow, they’re hiring indirectly, orthey’re bringing that money back into the community.”
– Fox Business May 2024
Microbusinesses have major impact
-
-.11: Each additional microbusiness per 100 people in a county can decrease the unemployment rate by .11 percentage points.
-
7+: Over seven new jobs are created by each microbusiness entrepreneur on a county-level. In 2021, it was just over two jobs.1
Microbusinesses demonstrate major growth in numbers2
|
1 Year Microbusiness Count % Growth |
5 year |
Microbusiness Density* (MD) |
% of all counties |
|
|
Rural |
8% |
24% |
2.7 |
63% |
|
Suburban |
7% |
19% |
3.5 |
22% |
|
Urban |
22% |
35% |
7.6 |
15% |
*Microbusiness Density is defined as the number of microbusinesses per 100 people
Top 20 States By Microbusiness Count Growth
|
State |
1 year |
5 year |
Active |
Microbusiness Density |
|
Delaware |
65% |
359% |
381,543 |
38.4 |
|
Montana |
45% |
61% |
83,132 |
7.6 |
|
Nevada |
36% |
44% |
601,058 |
19.4 |
|
Washington |
31% |
50% |
720,836 |
9.4 |
|
Colorado |
24% |
30% |
598,249 |
10.4 |
|
New York |
21% |
29% |
1,832,298 |
9.2 |
|
California |
14% |
19% |
4,026,197 |
10.2 |
|
Florida |
14% |
32% |
2,471,412 |
11.4 |
|
Oklahoma |
14% |
57% |
289,666 |
7.3 |
|
Wyoming |
14% |
212% |
112,421 |
19.5 |
|
Idaho |
11% |
40% |
127,196 |
6.9 |
|
North Carolina |
8% |
26% |
614,706 |
5.9 |
|
New Hampshire |
8% |
6% |
93,567 |
6.8 |
|
Utah |
8% |
17% |
285,835 |
8.7 |
|
Virgina |
7% |
15% |
525,968 |
6.1 |
|
South Carolina |
7% |
30% |
264,508 |
5.1 |
|
Pennsylvania |
7% |
31% |
724,360 |
5.6 |
|
Arkansas |
7% |
7% |
89.367 |
3.0 |
|
Texas |
7% |
26% |
1,934,665 |
6.6 |
|
Indiana |
7% |
17% |
270,259 |
4.0 |
Cities of all sizes are booming2
|
1 Year |
5 Year Microbusiness |
Microbusiness Density* |
% Of |
|
|
Small Cities |
7% |
22% |
6.7 |
76% |
|
Mid-sized Cities |
13% |
27% |
7.5 |
22% |
|
Large Cities |
9% |
22% |
9.5 |
1% |
*Microbusiness Density is defined as the number of microbusinesses per 100 people
|
Top 20 Cities by Microbusiness Count Growth |
||||
|
City, |
1 year Micro- |
5 year |
Active |
Micro- |
|
San Francisco, |
142% |
123% |
329,060 |
38.7 |
|
Denver, CO |
96% |
106% |
215,879 |
19.6 |
|
Oklahoma City, |
82% |
140% |
81,383 |
11.7 |
|
Los Angeles, CA |
61% |
32% |
477,061 |
19.8 |
|
Pittsburgh, PA |
16% |
217% |
162,461 |
23.4 |
|
Sacramento, CA |
15% |
21% |
51,613 |
6.1 |
|
Staten Island, NY |
11% |
32% |
29,925 |
6.1 |
|
Tampa, FL |
10% |
17% |
94,647 |
11.5 |
|
Fort Worth, TX |
10% |
24% |
50,182 |
5.2 |
|
Indianapolis, IN |
10% |
17% |
55,842 |
5.7 |
|
Spring, TX |
9% |
33% |
42,743 |
10.2 |
|
San Antonio, TX |
9% |
64% |
122,053 |
6.6 |
|
Raleigh, NC |
9% |
32% |
66,927 |
12.0 |
|
Miami, FL |
8% |
43% |
353,599 |
19.1 |
|
Nashville, TN |
8% |
18% |
62,435 |
13.1 |
|
Salt Lake City, UT |
8% |
8% |
50,648 |
10.1 |
|
Aurora, CO |
7% |
8% |
27,022 |
5.9 |
|
Charlotte, NC |
7% |
28% |
90,015 |
9.4 |
|
Philadelphia, PA |
7% |
29% |
85,456 |
5.4 |
|
Fresno, CA |
7% |
17% |
20,599 |
3.3 |
Partner research excerpt
GoDaddy Venture Forward and UCLA Anderson Forecast economists developed another way to capture microbusiness activity since 2019 via the Microbusiness Activity Index (“MAI”), which is comprised of three sub-indices:
Infrastructure Index
Participation Index
Engagement Index
The latest 2024 report is available to download.
TAKEAWAYS
-
Figure 1. Microbusiness Activity Index Score by State, March 2024 (above). The darker the purple color, the higher the activity index. Washington DC (110.4), Utah (108.2), Colorado (108), Oregon (106.6), Maryland (106.6), and Washington (106.3) had the highest levels on the index. Arkansas (100.4), West Virginia (99.8), and Mississippi (98.6) had the lowest levels.
-
Figure 2. Microbusiness Activity Index Change by State, March 2023 to March 2024 (above) with the intensity of the blue color indicating a larger increase or a smaller decline. We can see Rhode Island (+1.3), Alaska (+1.1), Massachusetts (+1), Nebraska (+1), and Wyoming (+1) experienced largest increases in the index over the past year.
For full report and extended explanation, please go to section 04 – New Research.
Which industries saw the greatest change in online orders received?
|
Top 5 Industries (by % Gain) |
Bottom 5 Industries (by% Loss) |
||
|
Industry |
Y/Y Change |
Industry |
Y/Y Change |
|
Religion |
286% |
Personal Services |
-51% |
|
Business |
25% |
Food and Drink |
-28% |
|
Home Services |
16% |
Professional Services |
-27% |
|
Events |
14% |
Writing |
-23% |
|
Law |
12% |
Photography |
-18% |
Industry Glossary as Self-Reported by Website Owner
-
Religion: Churches, spiritual events, faith-based books and merchandise
-
Personal Services: Includes accountants and assistants, services for individuals
-
Business: General business catch-all category, may include advisors and consultants
-
Writing: Writers for hire and professional authors
-
Home Services: Home cleaning services, lawn care services, powerwashing services
-
Photography: Photographers, their portfolios, and photography equipment
-
Law: Lawyers and legal-related services and information
-
Marketing: Marketing companies, lead generators, marketing consultants
-
Professional Services: Technical assistance, consultants, grant writing
-
Real Estate: Real estate agents, companies, listing aggregators
Which industries saw the greatest change in online revenue growth?
|
Top 5 Industries (by % Gain) |
Bottom 5 Industries (by % Loss) |
||
|
Industry |
Y/Y Change |
Industry |
Y/Y Change |
|
Financial |
142% |
Writing |
-77% |
|
Marketing |
42% |
Personal Services |
-50% |
|
Software/IT |
29% |
Business |
-50% |
|
Religion |
24% |
Food and Drink |
-45% |
|
Home Services |
14% |
Wedding |
-23% |
Industry Glossary as Self-Reported by Website
-
Financial: Finance companies, banks, credit unions, investment firms
-
Writing: Writers for hire and professional authors
-
Marketing: Marketing companies, lead generators, marketing consultants
-
Personal Services: Includes accountants and assistants, services for individuals
-
Software/IT: Software companies, cybersecurity firms, cloud computing
-
Religion: Churches, spiritual events, faith-based books and merchandis
-
Home Services: Home cleaning services, lawn care services, power washing services
-
Wedding: Wedding planners, bridal shops, some venues
-
Food and Drink: Bakeries, confectioners and food manufacturers
GoDaddy Venture Forward 2024 Annual Report | U.S. Edition
This report is powered by the latest data from Venture Forward, GoDaddy’s research initiative to quantify the presence and impact of over 20 million global online microbusinesses on their local economies, while shining a light on the entrepreneurs behind them.
We’re here to support entrepreneurs.
Contact GoDaddy Venture Forward at VentureForward@GoDaddy.com
1Source: GoDaddy Venture Forward and 2023 – Bureau of Labor Statistics
2Source: GoDaddy Venture Forward 2019-2024
View additional multimedia and more ESG storytelling from GoDaddy on 3blmedia.com.
Contact Info:
Spokesperson: GoDaddy
Website: https://www.3blmedia.com/profiles/godaddy
Email: info@3blmedia.com
SOURCE: GoDaddy
View the original press release on accesswire.com
FAQ
What is the job creation impact of microbusinesses according to GoDaddy’s 2024 report?
According to GoDaddy’s 2024 Venture Forward report, each microbusiness entrepreneur creates over 7 new jobs at the county level, up from 2 jobs in 2021.
Which US state showed the highest microbusiness growth in 2024?
Delaware showed the highest microbusiness growth with a 65% one-year increase and 359% five-year growth.
What was the impact of microbusinesses on unemployment rates?
Each additional microbusiness per 100 people in a county decreased the unemployment rate by 0.11 percentage points.
Which industry showed the highest revenue growth in 2024?
The Financial industry showed the highest revenue growth at 142% year-over-year from August 2023 to August 2024.
What was the microbusiness density in urban areas according to GoDaddy’s 2024 report?
Urban areas (more than 250 people per square mile) had a microbusiness density of 7.6 microbusinesses per 100 people.
