GoDaddy Venture Forward 2024 Annual Report | U.S. Edition: Macroeconomic Research
GoDaddy's Venture Forward 2024 Annual Report reveals significant correlations between migration patterns and microbusiness growth in the US. Research shows that new residents significantly impact county microbusiness density, with international migrants having the largest effect (.42 increase in microbusinesses per 100 people for each 1% of international population).
The study also highlights findings from the UCLA Anderson Forecast Microbusiness Activity Index (MAI), showing that microbusinesses positively impact local economies. Key findings indicate that a one-point increase in the infrastructure index corresponds to 89 new jobs in a county, and each additional entrepreneur correlates with 7.4 local jobs. The research noted increased MAI growth driven by Generative AI adoption, enabling smaller businesses to compete more effectively.
Il Rapporto Annuale 2024 di GoDaddy's Venture Forward rivela correlazioni significative tra i modelli migratori e la crescita delle microimprese negli Stati Uniti. La ricerca mostra che i nuovi residenti influenzano significativamente la densità di microimprese nei vari contea, con i migranti internazionali che esercitano il maggiore effetto (aumento di 0.42 microimprese ogni 100 persone per ogni 1% di popolazione internazionale).
Lo studio evidenzia anche i risultati dell'UCLA Anderson Forecast Microbusiness Activity Index (MAI), mostrando che le microimprese hanno un impatto positivo sulle economie locali. I principali risultati indicano che un incremento di un punto nell'indice delle infrastrutture corrisponde a 89 nuovi posti di lavoro in una contea, e ogni imprenditore aggiuntivo è correlato a 7.4 posti di lavoro locali. La ricerca ha osservato una crescita dell'MAI incrementata dall'adozione dell'AI Generativa, consentendo alle piccole imprese di competere in modo più efficace.
El Informe Anual 2024 de GoDaddy's Venture Forward revela correlaciones significativas entre los patrones de migración y el crecimiento de microempresas en los EE. UU. La investigación muestra que los nuevos residentes tienen un impacto significativo en la densidad de microempresas del condado, siendo los migrantes internacionales quienes ejercen el mayor efecto (un aumento de 0.42 microempresas por cada 100 personas por cada 1% de población internacional).
El estudio también destaca hallazgos del UCLA Anderson Forecast Microbusiness Activity Index (MAI), que muestra que las microempresas impactan positivamente en las economías locales. Los hallazgos clave indican que un aumento de un punto en el índice de infraestructura corresponde a 89 nuevos empleos en un condado, y cada emprendedor adicional se correlaciona con 7.4 empleos locales. La investigación observó un crecimiento del MAI impulsado por la adopción de la IA Generativa, lo que permite a las pequeñas empresas competir de manera más efectiva.
GoDaddy의 Venture Forward 2024 연례 보고서는 미국에서의 이주 패턴과 마이크로 비즈니스 성장 간의 중요한 상관관계를 드러냅니다. 연구에 따르면 새로운 거주자는 카운티의 마이크로 비즈니스 밀도에 상당한 영향을 미치며, 국제 이주자가 가장 큰 영향을 미칩니다 (국제 인구의 1% 증가에 대해 100명당 0.42개의 마이크로 비즈니스 증가).
이 연구는 UCLA Anderson Forecast Microbusiness Activity Index (MAI)의 결과도 강조하며, 마이크로 비즈니스가 지역 경제에 긍정적인 영향을 미친다고 보여줍니다. 주요 발견 사항은 인프라 지수가 한 포인트 증가할 때마다 카운티에 89개의 새로운 일자리가 발생하며, 추가된 각 기업가는 7.4개의 지역 일자리와 관련이 있다는 점을 나타냅니다. 연구는 생성적 AI 채택이 증가함에 따라 MAI 성장률이 증가하고, 작고 강력한 기업들이 보다 효과적으로 경쟁할 수 있도록 한다고 명시했습니다.
Le Rapport Annuel 2024 de GoDaddy's Venture Forward révèle des corrélations significatives entre les schémas migratoires et la croissance des micro-entreprises aux États-Unis. La recherche montre que les nouveaux résidents ont un impact significatif sur la densité des micro-entreprises dans le comté, les migrants internationaux ayant le plus grand effet (une augmentation de 0,42 micro-entreprises pour 100 personnes pour chaque augmentation de 1% de la population internationale).
Cette étude met également en avant les résultats de l'UCLA Anderson Forecast Microbusiness Activity Index (MAI), montrant que les micro-entreprises ont un impact positif sur les économies locales. Les résultats clés indiquent qu'une augmentation d'un point de l'indice d'infrastructure correspond à 89 nouveaux emplois dans un comté, et chaque entrepreneur supplémentaire est corrélé à 7,4 emplois locaux. La recherche a noté une augmentation de la croissance du MAI, alimentée par l'adoption de l'IA générative, permettant aux petites entreprises de rivaliser plus efficacement.
GoDaddy's Venture Forward Jahresbericht 2024 offenbart signifikante Zusammenhänge zwischen Migrationsmustern und dem Wachstum von Mikrounternehmen in den USA. Forschungen zeigen, dass neue Bewohner die Mikrounternehmensdichte im Landkreis erheblich beeinflussen, wobei internationale Migranten den größten Effekt haben (eine Steigerung von 0,42 Mikrounternehmen pro 100 Personen für jeden Anstieg von 1% der internationalen Bevölkerung).
Die Studie hebt auch die Ergebnisse des UCLA Anderson Forecast Microbusiness Activity Index (MAI) hervor, die zeigen, dass Mikrounternehmen sich positiv auf die lokale Wirtschaft auswirken. Wichtige Ergebnisse deuten darauf hin, dass ein Anstieg um einen Punkt im Infrastrukturindex mit 89 neuen Arbeitsplätzen in einem Landkreis verbunden ist, und jeder zusätzliche Unternehmer korreliert mit 7,4 lokalen Jobs. Die Forschung stellte fest, dass das Wachstum des MAI durch die Einführung von generativer KI gesteigert wurde, was es kleineren Unternehmen ermöglicht, wettbewerbsfähiger zu agieren.
- Each additional entrepreneur correlates with creation of 7.4 local jobs
- One-point increase in infrastructure index creates 89 new county jobs
- Positive correlation between microbusiness participation and state GDP growth
- Increased MAI growth driven by Generative AI adoption
- None.
New insights from GoDaddy's Venture Forward regressions and UCLA's Microbusiness Activity Index annual update.
NORTHAMPTON, MA / ACCESSWIRE / January 7, 2025 / GoDaddy
As originally published by GoDaddy's Venture Forward research initiative
New Venture Forward research
GoDaddy Venture Forward conducted an in-house analysis to assess: with all the moves that happened during the pandemic, did areas that saw greater migration also see greater impact on entrepreneurship?
The answer was yes! Analyzing US.. Census data from 2022 and the associated Venture Forward microbusiness data in 2023, a clear trend emerged (see the next page). Residents who moved from other counties, states and countries impacted the county microbusiness density. The greater the distance moved, the greater the impact as well.
Research shows that when microbusiness density increases, it can drive up household median incomes, lower unemployment, and create new jobs. So, more microbusinesses leads to greater economic outcomes, and one path to that is more new residents.
New residents lead to more microbusinesses*
.03*: Increase in microbusinesses per 100 people for each %1 of the population who lived in a different county a year ago.
*only when subset to counties < 15 microbusinesses per 10 people
.09: Increase in microbusinesses per 100 people for each1% of the population who lived in a different state a year ago.
.42: Increase in microbusinesses per 100 people for each
The model for regression controlled for 23 variables, including: Broadband access, Race, Industry employment figures, Age cohorts, and Education levels. It generated an R-squared of.59
The greater the move, the greater the impact on counties1
Where did new residents come from in 2022? | % Effect Size | Impact of + | 2023 Average Microbusiness Density | Average % of Residents by category |
Residents who moved | . | .03 | 12.4 | |
Residents who moved from another state | . | .09 | 12.4 | |
Residents who moved from another country | .42 | 12.4 | . |
The counties with the greatest migration also have some of the highest concentrations of microbusinesses
Top Migration Counties (750k+ population) | ||
County | % Residents 1 year | Microbusiness |
Clark, NV | 20.7 | |
Honolulu, HI | 6.2 | |
Mecklenburg, NC | 12.7 | |
Fulton, GA | 21.5 | |
New York, NY | 34.6 | |
Average | 19.1 | |
*Microbusiness Density is defined as the number of microbusinesses per 100 people | ||
Bottom Migration Counties (750k+ population) | ||
County | % Residents 1 year or less 2022 | Microbusiness Density* 2023 |
Nassau, NY | 12.6 | |
Bronx, NY | 3.3 | |
Queens, NY | 6.2 | |
Suffolk, NY | 10.8 | |
Sacramento, CA | 8.3 | |
Average | 8.2 | |
*Microbusiness Density is defined as the number of microbusinesses per 100 people | ||
Partner economic research
UCLA Anderson Forecast Microbusiness Activity Index 2024 Annual Update
Introduction
In July 2021, the UCLA Anderson Forecast, in partnership with GoDaddy, launched a new Microbusiness Activity Index (MAI) that analyzes the formation, growth, and dynamics of online microbusinesses, using data provided by GoDaddy.
The MAI demonstrates a strong correlation with key economic indicators, including employment, unemployment, GDP, and offers timely insights into local economic activity.
The report, featuring commentary, analysis, and the latest indices, continues to be published annually.
What follows are key excerpts from the 2024 report.
Read the full report
Highlights from this year's report
Key findings by UCLA economists, William Yu and Thomas Ash:
Recent months have seen a rise in the MAl, driven by increased microbusiness engagement and Generative Al tool adoption, enabling
entrepreneurs with limited resources to boost productivity and compete effectively with larger companies.After controlling for various factors, we find evidence that the MAl, and its sub-indices, the infrastructure index and participation index, are associated with local job growth. Aone-point increase in the infrastructure index corresponds to an increase of 89 jobs in a county.
On average, we find evidence that an additional entrepreneur is correlated with an increase of 7.4 local jobs. Microbusiness participation also contributes positively to local labor force participation.
There is a correlation between the participation index by state and
state GDP growth, in which the horizontal axis represents the change of the state participation index between March 2023 and March 2024 and the vertical axis represents the state real GDP growth from 2023Q1to 2023Q4.
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.
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 is the impact of international migration on microbusiness density according to GoDaddy (GDDY) 2024 report?
How many jobs does each new entrepreneur create according to GoDaddy's (GDDY) 2024 research?
Which US counties showed the highest microbusiness density in GoDaddy's (GDDY) 2024 report?
How does the UCLA Anderson Forecast MAI correlate with local economic growth in the 2024 GDDY report?
