GoDaddy Venture Forward 2024 Annual Report | U.S. Edition: 2024 National Microbusiness Survey Results
GoDaddy's Venture Forward 2024 Annual Report reveals significant insights about U.S. microbusinesses. The study shows that 93% of microbusinesses have fewer than 10 employees, with 55% being solo entrepreneurs. Income generation varies: 31% use it as main income, 40% as supplemental, and 29% report no income. Notable findings include:
- 51% are women-owned businesses, a 10% increase since August 2019
- 13% are owned by Black entrepreneurs, with 73% of these owned by Black women
- 44% believe GenAI will help them compete with larger businesses
- Top challenges include online marketing (39%) and access to financial capital (22%)
The report highlights that 75% of business owners who previously closed businesses persevered to create new ones, and despite economic uncertainties, 1 in 4 business owners with negative economic outlooks still plan to hire in the next 12 months.
Il Rapporto Annuale 2024 di GoDaddy's Venture Forward rivela importanti informazioni sulle microimprese statunitensi. Lo studio mostra che il 93% delle microimprese ha meno di 10 dipendenti, di cui il 55% sono imprenditori solitari. La generazione di reddito varia: il 31% lo utilizza come reddito principale, il 40% come integrativo e il 29% non riporta alcun reddito. Tra le scoperte significative vi sono:
- Il 51% è costituito da imprese femminili, con un aumento del 10% rispetto ad agosto 2019
- Il 13% è di proprietà di imprenditori neri, di cui il 73% è di donne nere
- Il 44% crede che il GenAI li aiuterà a competere con le grandi imprese
- Le principali sfide includono il marketing online (39%) e l'accesso al capitale finanziario (22%)
Il rapporto evidenzia che il 75% dei proprietari di imprese che avevano precedentemente chiuso le loro attività ha perseverato per crearne di nuove, e nonostante le incertezze economiche, 1 imprenditore su 4 con prospettive economiche negative ha ancora intenzione di assumere nei prossimi 12 mesi.
El Informe Anual 2024 de GoDaddy's Venture Forward revela importantes hallazgos sobre las microempresas en Estados Unidos. El estudio muestra que el 93% de las microempresas tiene menos de 10 empleados, y el 55% son emprendedores individuales. La generación de ingresos varía: el 31% lo utiliza como ingreso principal, el 40% como ingreso complementario, y el 29% no reporta ingresos. Los hallazgos notables incluyen:
- El 51% son negocios de propiedad femenina, un aumento del 10% desde agosto de 2019
- El 13% son propiedad de emprendedores afroamericanos, de los cuales el 73% son mujeres afroamericanas
- El 44% cree que GenAI les ayudará a competir con empresas más grandes
- Los principales desafíos incluyen el marketing online (39%) y el acceso al capital financiero (22%)
El informe destaca que el 75% de los propietarios de negocios que previamente cerraron negocios perseveraron para crear nuevos, y a pesar de las incertidumbres económicas, 1 de cada 4 propietarios de negocios con perspectivas económicas negativas aún planea contratar en los próximos 12 meses.
고대디의 벤처 포워드 2024 연례 보고서는 미국의 마이크로 비즈니스에 대한 중요한 통찰력을 제공합니다. 연구에 따르면 93%의 마이크로 비즈니스는 10명 이하의 직원을 고용하고 있으며, 55%는 단독 기업가입니다. 수입 창출은 다르며: 31%는 이를 주요 수입으로, 40%는 보조 수입으로, 29%는 수입이 없다고 보고합니다. 주목할 만한 발견에는 다음이 포함됩니다:
- 51%는 여성 소유 기업이며, 2019년 8월 이후 10% 증가했습니다
- 13%는 흑인 기업가가 소유하며, 그 중 73%는 흑인 여성에 의해 소유됩니다
- 44%는 GenAI가 더 큰 기업과 경쟁할 수 있도록 도와줄 것이라고 믿습니다
- 주요 과제는 온라인 마케팅(39%)과 재정 자본 접근(22%)입니다
보고서는 이전에는 사업을 종료했던 75%의 사업 소유자가 새로운 사업을 창출하기 위해 계속 노력하고 있다고 강조하며, 경제적 불확실성에도 불구하고 경제 전망이 부정적인 사업 소유자 가운데 4명 중 1명은 여전히 향후 12개월 내에 고용할 계획이라고 합니다.
Le Rapport Annuel 2024 de GoDaddy's Venture Forward révèle d'importantes informations sur les microentreprises américaines. L'étude montre que 93% des microentreprises comptent moins de 10 employés, dont 55% sont des entrepreneurs solitaires. La génération de revenus varie : 31% l'utilisent comme revenu principal, 40% comme revenu complémentaire et 29% ne déclarent aucun revenu. Parmi les résultats notables, on trouve :
- 51% d'entre elles sont des entreprises détenues par des femmes, une augmentation de 10% depuis août 2019
- 13% sont propriétés d'entrepreneurs noirs, dont 73% sont détenues par des femmes noires
- 44% croient que GenAI les aidera à rivaliser avec des entreprises plus grandes
- Les principaux défis incluent le marketing en ligne (39%) et l'accès au capital financier (22%)
Le rapport souligne que 75% des propriétaires d'entreprises ayant précédemment fermé des entreprises ont persévéré pour en créer de nouvelles, et malgré les incertitudes économiques, 1 propriétaire d'entreprise sur 4 ayant des perspectives économiques négatives prévoit encore d'embaucher au cours des 12 prochains mois.
Der Jahresbericht 2024 von GoDaddy's Venture Forward zeigt bedeutende Einblicke in die US-Mikrounternehmen. Die Studie zeigt, dass 93% der Mikrounternehmen weniger als 10 Mitarbeiter haben, wobei 55% Solo-Unternehmer sind. Die Einkommensgenerierung variiert: 31% nutzen es als Haupteinkommen, 40% als zusätzliches Einkommen und 29% berichten von keinem Einkommen. Zu den bemerkenswerten Ergebnissen gehören:
- 51% sind Frauenunternehmen, was seit August 2019 einem Anstieg von 10% entspricht
- 13% sind im Besitz von schwarzen Unternehmern, wobei 73% von schwarzen Frauen gehalten werden
- 44% glauben, dass GenAI ihnen helfen wird, mit größeren Unternehmen zu konkurrieren
- Die größten Herausforderungen sind Online-Marketing (39%) und der Zugang zu Finanzmitteln (22%)
Der Bericht hebt hervor, dass 75% der Geschäftsinhaber, die zuvor Unternehmen geschlossen haben, entschlossen waren, neue zu gründen, und trotz wirtschaftlicher Unsicherheiten plant 1 von 4 Geschäftsinhabern mit negativen wirtschaftlichen Ausblicken, in den nächsten 12 Monaten einzustellen.
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NORTHAMPTON, MA / ACCESSWIRE / December 30, 2024 / GoDaddy
From serial entrepreneurship and resiliency to Gen Al use and closing equity gaps, microbusiness owners tell us who they are and what they care about.
As originally published by GoDaddy's Venture Forward research initiative
Venture Forward Survey Research Since 2019
4 Countries (AU, CA, UK, US)
50,000+ Customers
20+ Cities
5 Years of Research
US microbusinesses at-a-glance1
Microbusinesses are small:
55% are solo entrepreneurs45% have employees
Microbusinesses generate income.
31% : Main40% : Supplemental29% : No Income
About 1 in 3 currently own more than one business.
Microbusinesses can support a household.
Also known as "breadwinners"
Over 1 in 3 contributes
51% or more to household income
Marketing and capital continue to rank as top challenges for new businesses1
Ranking of top challenges when first starting a business:
39% : Marketing my business online (social media, ads, promotions, etc.22% : Access to financial capital21% : Marketing my business using traditional media (print, radio, TV, etc.)18% : Getting my business website online effectively15% : Taxes14% : Finding employees, independent contractors or consultants with necessary skills12% : Networking with other business owners12% : Licensing/permits11% :Affordable space10% : Rising costs on wages and materials
Microbusinesses help close equity gaps1
+
10% since August 2019
Breadwinners contribute
51% or more to their household income
Motivations may vary, but all microbusiness owners are committed1
"Why did you start your business?"
46% : To be my own boss31% : Support a cause of hobby31% : I can have more success on my own30% : Flexibility with time24% : Make extra money21% : Dreamt of starting a business19% : To contribute to my community17% : Idea for new product/service13% : To have fun13% : Wanted a career change
Microbusiness owners agree: Life is better as an entrepreneur.
66% : Better30% : No Different4% : Worse
Serial entrepreneurs demonstrate resiliency, and it pays off1
4 out of 10 current business owners who previously didn't sell at a profit are now the breadwinners of their households.
61% : Household contribution is50% or less39% : Household contribution is51% or more
Previous outcomes appear to affect whether to start new ventures full-time or as a side-hustle, but over one-third still jump all-in regardless.
I left my prior job to start my current business
52% : Sold last business for profit34% : Sold last business at no profit or loss
I started my current business while still working elsewhere
33% : Sold last business for profit47% : Sold last business at no profit or loss
Entrepreneurs are betting on themselves and creating jobs for others1
1 out of 4 business owners with a negative outlook on the national economy still plan to hire employees in the next 12 months.
Positive outlook for my business vs. the economy
| Jul'20 | Jul'21 | Feb'22 | Aug'22 | Feb'23 | Aug'23 | Feb'24 |
Business | |||||||
Economy |
People who plan to hire in the next 12 months are driven by their business outlook not their economic outlook.
Positive Outlook
86% : Business46% : Economy
Negative Outlook
2% : Business29% : Economy
The South and Midwest are the most likely to hire additional employees over the next 12 months (
Northeast: (Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont)
Midwest (Illinois, Indiana, lowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota Ohio, South Dakota, Wisconsin) South (Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia)
West (Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming)
Generative Al (GenAI) is picking up with microbusinesses1
44% agree that GenAl will help them compete with larger businesses.50% tried GenAl tools in the past few months.25% tried GenAl for their business specifically.
GenAI use is connected with confidence and higher recent monthly1 revenue
54% : Confident29% : Neutral17% : Not Confident
Microbusiness owners whose monthly revenue increased in the last six months are more likely to have used GenAl for their business.
Over the last six months, how has your business' average monthly revenue changed?
My revenue increased
28% : Not used GenAI36% : Used GenAI
My revenue decreased
29% : Not used GenAI24% : Used GenAI
Who is and isn't using GenAl?1
Business owners tend to use GenAl for business more than personal use.
White
13% : Yes, for personal24% : Yes, for my business
Black
21% : Yes, for personal33% : Yes, for my business
Asian
22% : Yes, for personal27% : Yes, for my business
Hispanic
14% : Yes, for personal30% : Yes, for my business
Nearly 1 in 3 Black-owned microbusinesses use GenAl for business.
The majority of microbusiness owners who tried GenAl said they experienced a positive impact on their business. Those who haven't, however, most commonly cite the folowing five reasons for their hesitation:
38% : I'm not familiar with Al32% : My business has no need for it12% : I don't have time5% : It would take too long to learn for it to be useful3% : It costs too much money
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 U.S. National Survey. February 2024 (N=3,565)
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 percentage of microbusinesses are women-owned according to GoDaddy's 2024 Venture Forward report?
How many microbusiness owners use GenAI for their businesses in 2024?
What are the top 3 challenges facing new microbusinesses in 2024?
What percentage of microbusiness owners plan to hire despite negative economic outlook?
How many microbusiness owners have multiple businesses according to GoDaddy's 2024 report?
What percentage of Black-owned microbusinesses are operated by women?
