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Microbusinesses: The Key to Economic Resilience in Communities

Take a look at Venture Forward, a GoDaddy study exploring how ventures help strengthen communities and mitigate against the economic effects of COVID-19. A venture is a microbusiness, or cause with a distinct domain and an active website. Our country is filled with them— they serve as a lifeline in communities, creating jobs and income for others. Their impact on our communities has never been measured, until now. Venture Forward partnered with academic researchers to analyze 20 million GoDaddy ventures. Their positive effect on communities across the country is unmistakable. Research shows communities with a higher-than-average number of ventures withstood economic shocks far better than communities that did not— a statistic that holds amidst the economic upheaval of COVID-19. Ventures are directly associated with higher levels of prosperity and helping to drop unemployment rates. Counties with greater venture density also saw less low-income job losses. Each highly active venture per 100 people in a county increases median income by 11%. Our study also helped us understand the unique needs of microbusinesses and found that ventures need support at the local level, from access to capital to coaching and tax assistance. Explore the data and see the impact of ventures on our economy at https://www.godaddy.com/ventureforward. Featured Experts: Connie Evans, President/CEO, Association for Enterprise Opportunity Jeremy Hartman, Vice President, Venture Forward at GoDaddy Alexandra Rosen, Director, Venture Forward at GoDaddy Cynthia Terry, Director of Entrepreneurship Program, Communities Unlimited Resources for Small Businesses: PPP loan application and eligibility: https://www.sba.gov For up to date info on COVID-19: https://www.cdc.gov More COVID-19 resources and grant information: https://www.covid19businesscenter.com The information contained in this video is provided for informational purposes only, and should not be construed as an endorsement or advice from GoDaddy on any subject matter. #VentureForward #GoDaddy #entrepreneur