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Digital businesses — from part-time side hustles selling homemade jewelry to local restaurants that started fulfilling orders online during the pandemic — have helped U.S. communities weather the economic storm caused by the COVID-19 crisis.
Orders placed on such websites almost doubled between January and April, as stay-at-home edicts caused consumers to move spending online.
The upshot is that communities with a higher concentration of these web-based micro-businesses tended to lose fewer jobs at the peak of the unemployment crisis.
These and other findings are part of a new dataset from Venture Forward, a multiyear research project that combines information about GoDaddy’s millions of U.S. web domains with data from the Census Bureau, Bureau of Labor Statistics and similar sources.
Of these “ventures,” roughly 75% are businesses and the rest are a mix of nonprofits, civic groups and personal sites. Because many of these ventures aren’t incorporated or don’t have … Read more
Nowadays, more American workers than ever have a side hustle — an additional job (typically some kind of gig work or a profitable hobby) alongside their main form of employment. But in order to make it grow, understanding how to fund a side hustle is vital.
Taking on extra work to make ends meet or have a little extra spending money is especially common among younger generations: Nearly half of all millennials have a side hustle of some kind. That could mean one of the more lucrative side hustles like web development or design, or even driving for a rideshare service.
Let’s say your side hustle becomes successful, and you decide it’s time to invest more in your operations. Maybe you need a website redesign, an influx of new inventory, or a new piece of crucial equipment. This is the first step of turning your side hustle into a legitimate … Read more