A path forward: Ventures and their hidden impact on the economy

Ventures are an important driving force in the economy and help their communities stay prosperous through tough times and economic downturns, according to Venture Forward.

Venture Forward, a multi-year study released by GoDaddy in partnership with the University of Iowa and Arizona State University, analyzed 20 million online ventures across the country. The study aims to reveal the impact of everyday entrepreneurs on the economy and local communities.  

What are ventures? A venture is a business, non-profit, cause, or idea represented by an active domain name and website.

Ventures are the mom-and-pop shop selling donuts, the restaurant offering online cooking classes, the freelancer working from home, the candle shop selling products through an online store. Ventures are as diverse as this country. They are in every state, they are across rural, suburban, urban areas, and they do a lot behind the scenes.

We talked to Alexandra Rosen, Director, Venture Forward at GoDaddy, about this study and its findings on ventures and their impact on the economy.

In the U.S. alone, it is estimated that there are over 40 million ventures. However, as widespread as they are, they’re often not captured in many government statistics because entrepreneurs will usually register a website before they’re able to register as a small business. And so, largely, they are not present in many of the conversations around what drives our economy, according to Venture Forward. But, ventures make a significant impact on the economy and their communities, particularly during tough times like COVID-19.

Watch the video to see how important ventures are to the economy and why we should support everyday entrepreneurs in the same way that they support our communities. 

More from Venture Forward:

Why ventures matter

How micro-businesses have blunted the economic impact of COVID-19

When COVID-19 hit, these creative entrepreneurs hit the web