TEMPE, Ariz., July 22, 2021 /PRNewswire/ -- GoDaddy Inc.
(NYSE: GDDY), the company that empowers everyday entrepreneurs, and
UCLA Anderson Forecast announced today the latest results from
their partnership utilizing GoDaddy's Venture Forward data to show
the impact online microbusinesses have on local economies and labor
markets.
UCLA Anderson Forecast economists Leila Bengali and William Yu created a pioneering index studying
the monthly activity of online microbusinesses down to county
level, and released a detailed report examining how these
microbusinesses fared during the pandemic, where they are
distributed across the U.S., and what local factors contribute to
their formation and growth.
The index and report were based on data provided by GoDaddy's
Venture Forward initiative, a multiyear research effort to quantify
the impact on local economies of the 20 million U.S. online
microbusinesses its customers have created. A microbusiness is
defined as a discrete domain name with an active website (e.g.,
online store), with the vast majority having 10 employees or
less.
"GoDaddy Venture Forward's collaboration with UCLA Anderson
Forecast helps shed light on what can be often overlooked drivers
of the economy," said Jeremy
Hartman, Vice President, Venture Forward at GoDaddy. "The
UCLA Anderson Forecast's research offers policymakers a level of
visibility into the millions of microbusinesses in their
communities that has previously never been possible. Our hope
is this index, and the insights it offers, helps inform how
policymakers can create stronger and more resilient economies."
The UCLA Anderson online microbusiness index is the first of its
kind and uniquely shows the characteristics of microbusinesses and
their activity at the national, state, metro, and county levels.
The full report, which measures these data over time, is available
here.
"The UCLA Anderson Forecast was able to use GoDaddy's Venture
Forward data to effectively measure online microbusiness activity
and show how microbusinesses are a unique type of business with
unique considerations," said Bengali. "Activity that fosters
entrepreneurship is in the best interest of local communities and
their economies. We hope this tool can be helpful for local leaders
and other researchers."
Bengali and Yu started working with Venture Forward data in 2019
when they found evidence of a causal impact between the number of
microbusinesses in a community, and the number of jobs created and
employment opportunities. They also found a correlation between the
availability of affordable broadband and the number of
microbusinesses in a community. Read more here.
About GoDaddy
GoDaddy is empowering everyday entrepreneurs around the world by
providing all of the help and tools to succeed online. GoDaddy is
the place people come to name their idea, build a professional
website, attract customers, sell their products and services, and
manage their work. Our mission is to give our customers the tools,
insights and the people to transform their ideas and personal
initiative into success. To learn more about the company, visit
www.GoDaddy.com.
About UCLA Anderson Forecast
UCLA Anderson Forecast is one of the most widely watched
and often-cited economic outlooks for California and the nation and was unique in
predicting both the seriousness of the early-1990s downturn in
California and the strength of the
state's rebound since 1993. The Forecast was credited as the first
major U.S. economic forecasting group to call the recession of 2001
and, in March 2020, it was the first
to declare that the recession caused by the COVID-19 pandemic had
already begun.
uclaforecast.com
About UCLA Anderson School of Management
UCLA Anderson School of Management is among the leading business
schools in the world, with faculty members globally renowned for
their teaching excellence and research in advancing management
thinking. Located in Los Angeles,
gateway to the growing economies of Latin
America and Asia and a city
that personifies innovation in a diverse range of endeavors, UCLA
Anderson's MBA, Fully Employed MBA, Executive MBA, UCLA-NUS
Executive MBA, Master of Financial Engineering, Master of Science
in Business Analytics, doctoral and executive education programs
embody the school's Think in the Next ethos. Annually, some 1,800
students are trained to be global leaders seeking the business
models and community solutions of tomorrow.
© 2021 GoDaddy Inc. All Rights Reserved.
Source: GoDaddy Inc.
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