GoDaddy Research Shows Growing Microbusinesses Helping Fuel Arizona’s Economy

Article originally posted on Phoenix Business Journal on August 11, 2021

Phoenix has always been known as a small business powerhouse. Apparently the smallest of the small are becoming a big economic engine for the region.

In Phoenix, the number of so-called microbusinesses grew 65% from the first quarter of 2020 to the first quarter of 2021, the 10th largest gain in the country, according to the July 2021 Venture Forward Report, part of a research effort led by Tempe-based web domain registrar GoDaddy to better understand these tiny businesses and how they create jobs and boost household income across the country.

GoDaddy specifically defines a microbusiness as a discrete domain with an active website, including companies, nonprofits, causes or ideas like email, payments or security. Ninety percent of the companies surveyed by GoDaddy have 10 or fewer employees and many of them operate as “soloprenuers” doing this work on the side.

The Venture Forward project initially started in 2018, but the research took on a new importance during its public launch in April 2020 as the Covid-19 pandemic started to spread and reshape the economy.

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