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Godaddy — Alabama Economic Outlook Conference 2023
17 slides from Godaddy's conference presentation, Jan 12, 2023
Slide 1: Alabama's Microbusiness Economy
Slide 2: 20 million microbusinesses
20 million microbusinesses Quantifying the impact of microbusinesses on the US economy ‘Antonell's Cheese Shop: ANTONELLISCHEESE.COM
Slide 3: "You can't create policy for what you can't see."
“You can’t create policy for what you can't see.” — Jim Hock Chief of Staff, US Department of Commerce | January 2015-2017 © GoDaddy
Slide 4: Venture Forward Data
Venture Forward Data Microbusiness Density Owner Profile Survey Microbusiness Activity Index 20M+ microbusinesses 21,000+ respondents Monthly from Apr 2020 Monthly from Aug 2019 4 national, 23 cities CBSA, County, State Down to ZIP Code Demographics Composite Score plus: Infrastructure Raw counts an
Slide 5: Microbusinesses at-a-glance (US)
Microbusinesses at-a-glance (US) Number of employees 95% Have less than 10 employees Start Up Capital 2o0f3 Required less than $5,000 in start-up capital None 167% sss aa owns 586% Source of Income 26% Primary source for household income Primary 26.1% Supplemental” 41.8% None, yet 92.2% *69% of supp
Slide 6: Entrepreneurship trends during and after the pandemic
• Explosion of entrepreneurship during / after pandemic, esp. in majority Black zip codes • Increase in women turning to microbusinesses • Adoption by younger and less-educated entrepreneurs Impacts of residential mobility (<1 year) on microbusiness density: microbusinesses /100 ppl. Source: GoDaddy
Slide 7: Closing Opportunity Gaps
Closing Opportunity Gaps Gender Race Age 31% 19% 28% Female Black Under 40 Pre-COVID {i478 Pre-COVID | 15.5% Pre-COVID| 201% © GoDaddy Source: GoDaddy Venture Forward National Survey. August 2022 (N=3,379)
Slide 8: National Survey – August 2022
Source: GoDaddy Venture Forward National Survey – August 2022 (n=3,379). 8
Slide 9: Microbusiness income and economic pressures
currently derive income said they were experiencing took action from their business negative impacts view their microbusiness as saw revenue declines in raised prices their primary source of prior 6 months income derive at least 25% of their cited inflationary pressures cut costs total household inc
Slide 10: Microbusiness Activity by State
Microbusiness Activity Microbusiness Count Microbusiness Growth Rate Microbusiness Density Index (Sept ‘22) (Sept ‘21 to ‘22) (Sept ‘22) (Sept ‘22) US US Composite US # US Rank Rate Rank Rank Score Rank Alabama 156,224 31 3.9% 35 4.11 46 100.06 42 Arkansas 82,648 38 5.5% 15 3.58 48 99.14 46 Georgia
Slide 11: Alabama Research
Source: GoDaddy Venture Forward Research
Slide 12: Percent Change in Microbusinesses by Alabama County
September 2021 to September 2022 Percent Change in Microbusinesses September 2022 September 2021 Y/Y Change # Y/Y Change % Winston Jefferson 32,931 31,415 1,516 4.8% +204% Madison 18,798 17,983 815 4.5% Baldwin 14,289 12,998 1,291 9.9% Randolph +94% Mobile 13,019 12,244 775 6.3% Tuscaloosa -32% Shel
Slide 13: Alabama Microbusinesses by Metro Area
September 2022 September 2021 Y/Y Change Per 100 Composite MAI Engagement Participation Infrastructure Anniston-Oxford 2,516 2,390 5.3% 2.8 99.7 103.2 98.2 100.0 Auburn-Opelika 5,174 4,778 8.3% 4.0 105.2 105.6 100.0 112.6 Birmingham-Hoover 49,018 46,427 5.6% 5.8 106.4 106.9 102.4 108.4 Daphne-Fairho
Slide 14: Most microbusiness owners don't know where to get help
Most microbusiness owners don't know where to get help and most local governments don't know the scale of microbusinesses in their community • 2022 National Survey • Despite strong desires to grow their microbusinesses, approximately of entrepreneurs reported being completely unaware of local govern
Slide 15: How can local government help businesses succeed?
How can local government help businesses succeed? (Top 3 Responses) Source: GoDaddy National Surveys – Feb and Aug 2022 Aggregate
Slide 16: Effective training improves outcomes
Effective training improves outcomes Source: GoDaddy Open training participants, 6-month check in survey 16 (n=294).
Slide 17: Access our data at: www.godaddy.com/ventureforward
Access our data at: www.godaddy.com/ventureforward 17