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Resilience Pays Off: 75% of Microbusiness Owners Relaunch After Setbacks, GoDaddy Reports

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GoDaddy's 2024 Annual Venture Forward report reveals strong resilience among microbusiness owners, with 75% relaunching after closures and 39% becoming their household's main income. While only 39% express confidence in the national economy, 74% remain optimistic about their business prospects. The report highlights significant impact at county level, with each entrepreneur creating an average of seven jobs, up from two in 2020.

Notable progress in diversity shows women now owning 51% of microbusinesses, up from 41% in 2019, with nearly a third serving as household breadwinners. The study also indicates 34% of microbusinesses start as side hustles, with 70% utilizing online presence for growth.

Il rapporto Annual Venture Forward 2024 di GoDaddy rivela una forte resilienza tra i proprietari di microimprese, con il 75% che rilancia dopo le chiusure e il 39% che diventa il principale reddito della propria famiglia. Sebbene solo il 39% esprima fiducia nell'economia nazionale, il 74% rimane ottimista riguardo alle prospettive per la propria attività. Il rapporto evidenzia un impatto significativo a livello di contea, con ogni imprenditore che crea in media sette posti di lavoro, rispetto ai due del 2020.

Progresso notevole nella diversità mostra che le donne ora possiedono il 51% delle microimprese, in aumento rispetto al 41% nel 2019, con quasi un terzo che funge da capofamiglia. Lo studio indica anche che il 34% delle microimprese inizia come attività secondaria, con il 70% che utilizza la presenza online per crescere.

El informe Annual Venture Forward 2024 de GoDaddy revela una gran resiliencia entre los propietarios de microempresas, con el 75% relanzando después de cierres y el 39% convirtiéndose en el ingreso principal de sus hogares. Aunque solo el 39% expresa confianza en la economía nacional, el 74% permanece optimista sobre las perspectivas de su negocio. El informe destaca un impacto significativo a nivel de condado, con cada emprendedor creando un promedio de siete empleos, en comparación con dos en 2020.

Un notable progreso en diversidad muestra que ahora las mujeres poseen el 51% de las microempresas, un aumento desde el 41% en 2019, con casi un tercio actuando como principales sostenedores del hogar. El estudio también indica que el 34% de las microempresas comienzan como trabajos secundarios, con el 70% utilizando la presencia en línea para crecer.

GoDaddy의 2024년 Annual Venture Forward 보고서는 마이크로 비즈니스 소유자들 사이에서 강한 회복력을 보여줍니다. 이 중 75%는 폐업 후 재출발하고, 39%는 가정의 주요 소득원이 됩니다. 단 39%만이 국가 경제에 대한 자신감을 표현하지만, 74%는 자신의 비즈니스 전망에 대해 긍정적인 태도를 유지하고 있습니다. 이 보고서는 카운티 수준에서의 상당한 영향을 강조하며, 각 기업가가 평균 7개의 일자리를 창출하고 있는 것으로 나타났습니다. 이는 2020년에 비해 두 배 증가한 수치입니다.

다양성에서의 주목할 만한 진전이 있으며, 현재 여성들이 마이크로 비즈니스의 51%를 소유하고, 이는 2019년의 41%에서 증가한 것입니다. 거의 3분의 1은 가정의 생계부양자로 활동하고 있습니다. 연구는 또한 마이크로 비즈니스의 34%가 사이드 사업으로 시작되며, 70%가 온라인 존재를 성장에 활용하고 있음을 나타냅니다.

Le rapport Annual Venture Forward 2024 de GoDaddy révèle une forte résilience parmi les propriétaires de microentreprises, avec 75% qui relancent leur activité après les fermetures et 39% qui deviennent le principal revenu de leur foyer. Bien que seulement 39% aient confiance en l'économie nationale, 74% restent optimistes quant à leurs perspectives commerciales. Le rapport met en évidence un impact significatif au niveau des comtés, chaque entrepreneur créant en moyenne sept emplois, contre deux en 2020.

Un progrès notable en matière de diversité montre que les femmes possèdent désormais 51% des microentreprises, contre 41% en 2019, avec près d'un tiers agissant comme principales soutiens de famille. L'étude indique également que 34% des microentreprises commencent comme des activités secondaires, avec 70% utilisant la présence en ligne pour croître.

Der Annual Venture Forward Bericht 2024 von GoDaddy zeigt eine starke Resilienz unter den Inhabern von Mikrounternehmen, wobei 75% nach Schließungen erneut starten und 39% zum Haupteinkommen des Haushalts werden. Während nur 39% Vertrauen in die nationale Wirtschaft haben, bleiben 74% optimistisch in Bezug auf ihre Geschäftsaussichten. Der Bericht hebt eine signifikante Auswirkung auf Landkreise hervor, wobei jeder Unternehmer im Durchschnitt sieben Arbeitsplätze schafft, im Vergleich zu zwei im Jahr 2020.

Ein bemerkenswerter Fortschritt in der Vielfalt zeigt, dass Frauen jetzt 51% der Mikrounternehmen besitzen, ein Anstieg von 41% im Jahr 2019, wobei fast ein Drittel als Hauptverdiener der Haushalte fungiert. Die Studie zeigt auch, dass 34% der Mikrounternehmen als Nebentätigkeit beginnen, wobei 70% die Online-Präsenz zur Wachstumsförderung nutzen.

Positive
  • 75% of microbusiness owners relaunch after closure, showing strong market resilience
  • Average job creation per entrepreneur increased from 2 to 7 jobs since 2020
  • 74% of owners optimistic about near-term business prospects
  • 51% of microbusinesses are women-owned, up from 41% in 2019
  • 70% of businesses leverage online presence for growth
Negative
  • Only 39% of business owners express confidence in the national economy

Insights

The data reveals significant shifts in the microbusiness landscape that could positively impact GoDaddy's market position. The 75% relaunch rate and 39% success rate as primary household income sources indicate a resilient customer base that continues to need digital services. The increase in women-owned businesses from 41% to 51% since 2019 represents an expanding market segment.

The report's findings about job creation (7 jobs per entrepreneur) and online presence (70% of businesses) suggest sustained demand for GoDaddy's core services. The company's strategic position as a digital enabler for microbusinesses is strengthened by these trends, particularly as entrepreneurs show increasing resilience against economic uncertainty. This data supports potential revenue stability and growth opportunities in the small business sector.

TEMPE, Ariz., Nov. 21, 2024 /PRNewswire/ -- For many microbusiness owners, closing one venture is not the end—it's the beginning of something new.

According to GoDaddy's 2024 Annual Venture Forward report, 75% of microbusiness owners who close a business don't give up, even if their efforts didn't yield a profit. Instead, they persist, launching new ventures. Of these, 39% become the main income for their households.

Resilience Powers Microbusinesses

Microbusiness owners are placing greater confidence in themselves. They are less swayed by uncertainty in the economy. Only 39% say they are confident in the national economy. But 74% are optimistic about their business prospects in the next six months. Even among those pessimistic about the economy, one in four plans to hire within a year. Entrepreneurs are making decisions based on business needs rather than on the economy.

Microbusinesses, Macro Impact

Microbusinesses are a cornerstone of the U.S. economy. Many start small, with 34% beginning as side hustles, and over 70% leveraging an online presence to fuel growth.

GoDaddy's Venture Forward research highlights that, at the county level, each entrepreneur creates an average of seven jobs - up from just two in 2020. Also, 58% of say their work helps their local community.

Progress in Equity and Representation

The face of microbusiness ownership is evolving. Women now own 51% of microbusinesses, up from 41% in 2019. Today, nearly a third of women owners serve as household breadwinners. Black-owned businesses are also on the rise, with women driving much of the growth. Older entrepreneurs are joining the wave as well, with 19% of owners now aged 55 and older. This diversity of age, gender, and race reflects a vibrant and evolving entrepreneurial landscape.

"Setbacks often lead to fresh starts and new opportunities," said Alexandra Rosen, Global Head of GoDaddy Venture Forward. "These entrepreneurs are showing how perseverance can translate into profit and impact, not just for their households but for their communities.

"Microbusinesses remain essential to local economies and are the heartbeat of neighbourhoods," Rosen added. "At GoDaddy, we're proud to share these data-driven insights and to provide the tools and support that help these businesses succeed. Microbusinesses might be small, but they're mighty."

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, categorizing each as a microbusiness. Since 2018, Venture Forward has surveyed more than 50,000 entrepreneurs with a digital presence, making it the source for microbusiness data and insights. To find out more about GoDaddy's Venture Forward research, visit www.godaddy.com/ventureforward.

About GoDaddy

GoDaddy helps millions of entrepreneurs globally start and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services, and accept payments. GoDaddy Airo™, the company's AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy's expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com.

*66% of microbusiness owners agree with the statement "life is better as an entrepreneur."

Source: GoDaddy Inc.

 

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SOURCE GoDaddy Inc.

FAQ

What percentage of microbusiness owners relaunch after closing according to GoDaddy (GDDY) 2024 report?

According to GoDaddy's 2024 Annual Venture Forward report, 75% of microbusiness owners relaunch after closing their previous venture.

How many jobs does each microbusiness entrepreneur create according to GoDaddy's (GDDY) 2024 study?

According to the 2024 report, each entrepreneur creates an average of seven jobs at the county level, an increase from two jobs in 2020.

What percentage of microbusinesses are women-owned in 2024 according to GoDaddy (GDDY)?

According to GoDaddy's 2024 report, women now own 51% of microbusinesses, an increase from 41% in 2019.

What percentage of microbusinesses start as side hustles according to GoDaddy's (GDDY) 2024 report?

According to the 2024 Venture Forward report, 34% of microbusinesses begin as side hustles.

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