Tag: 3BL

Originally published in International Paper’s 2023 Sustainability Report

Working with community stakeholders

The future of forests and the future of local communities are closely intertwined. Forests don’t just play a critical role in the local socio-economic fabric; they also directly impact the quality of life of people living nearby. Bearing this in mind, we have made it a priority to engage in meaningful partnerships with community stakeholders. This approach fosters a sense of shared responsibility and helps build resilient communities that are economically and environmentally connected to the forests.

Promoting social equity

Our commitment to promoting social equity entails re-examining certain barriers that prevent equal access to sustainable resources. Heirs’ property is land passed down from generation to generation informally, often because landowners die without having written a will. In the absence of a will, the land is considered jointly owned by all heirs and split between multiple family members regardless of whether they have set foot on the land, lived on the property or paid the taxes. Since its ownership is unclear, the land often ends up in forced sale, leading to forest fragmentation. This disproportionally affects Black families, contributing to over 11 million acres of land lost in the last hundred years and counting.

That’s where the Center for Heirs’ Property Preservation® (CHPP) comes in. Working in partnership with International Paper, CHPP supports historically underserved communities to build intergenerational resilience. In 2023, International Paper announced its partnership with CHPP. The center works alongside the Mississippi Center for Justice to provide legal services, assistance and resources to help historically underserved Mississippians, with support from World Wildlife Fund and Kimberly-Clark Corporation. This effort, known as the Mobile Basin Heirs’ Property Support Initiative, is designed to help families in Mississippi protect and keep their forestland, build intergenerational wealth and promote productive, sustainably managed forests.

Longstanding partnerships with conservation groups

2023 was a milestone year for our work with conservation organizations. As we celebrated a decade of partnering with the National Fish and Wildlife Foundation, we also continued our endeavors to preserve and protect our planet’s delicate ecosystems together with other strategic conservation partners.

National Fish and Wildlife Foundation (NFWF)

International Paper and NFWF began working together to restore and enhance forested ecosystems in 2013. Our Forestland Stewards Partnership (FSP) has delivered many significant accomplishments, including establishing or enhancing more than 700,000 acres of native forest and wildlife habitat to date, including the iconic longleaf pine ecosystem. Now entering its second decade, FSP has funded 177 projects across 13 states that, once completed, will restore, enhance or protect more than 1.6 million acres of forest habitat. The FSP was recently renewed for another five-year period, with International Paper committing $10 million for wildlife and working forest conservation. To learn more about our work with NFWF, visit this website. 

The Nature Conservancy (TNC)

Start-of-the-art forestry practices have been at the heart of our collaboration with The Nature Conservancy (TNC) since 2018. This work reaches beyond International Paper’s traditional supply chain in an effort to identify nature-based climate solutions that can be replicated anywhere around the world. For instance, the first phase of the Reduced-Impact Logging for Carbon (RIL-C) initiative provided land managers in Indonesia and Gabon with practical, science-based toolkits to improve carbon sequestration in working forests. The second phase of this engagement saw the expansion of TNC’s RIL-C toolkit to new geographies in the Yucatan Peninsula of Mexico and the Republic of Congo. This funding also allowed TNC and partners at the University of Wisconsin to develop bioacoustics monitoring protocols, which use sound recordings to measure forest a closer look biodiversity and understand the impacts of logging and other disturbances to forestbased wildlife species.

With the first two phases completed, our partnership is now scaling up efforts to inform responsible forestry, carbon sequestration and biodiversity monitoring on the ground in the Central Appalachian region of the U.S. and in Mexico.

American Bird Conservancy (ABC)

Since 2020, International Paper has been partnering with the American Bird Conservancy, an organization dedicated to conserving wild birds and their habitats, to promote forest bird awareness and conservation within our supply chain. Our work engages IP’s Fiber Supply Team, academia, forestry and wildlife experts, our wood suppliers and forest landowners in our mill basins in the Southeastern U.S. Specifically, we hold field-based bird workshops, conduct bird surveys, collaborate on academic research and implement bird-friendly forest management practices on strategic sites identified via ForSite™. In 2023, our work was recognized by the AF&PA with the Leadership in Sustainability Award for Resilient U.S. Forests (see page 32).

The Arbor Day Foundation

Our partnership with the Arbor Day Foundation dates back to 2019 and continued to flourish and deliver tangible benefits for people and the planet in 2023.

In the past, we have joined with the Arbor Day Foundation to strengthen community resilience through the Community Tree Recovery Program. This public-private partnership distributes free trees to residents in communities affected by natural disasters and supports the restoration of affected forestland. As one of 17 founding members of the Arbor Day Foundation’s Evergreen Alliance, we also champion the Foundation’s ambitions to plant 500 million trees focusing on neighborhoods and forests of greatest need in the next five years.

World Wildlife Fund (WWF)

After working with WWF for more than a decade on responsible sourcing and landscape investments, International Paper was one of the first five U.S. companies to join WWF’s Forests Forward program for corporate action in support of nature, climate and people. Forests Forward engages with companies and other stakeholders around the globe to deliver effective nature-based strategies for forests that help achieve their business and sustainability goals. Most recently, we partnered with WWF to support the Mobile Basin Heirs’ Property Support Initiative in a closer look the Southeastern U.S. (see page 35).

Other strategic partnerships to advance forest sustainability

American Forest Foundation (see page 67) Celebrate Planet Earth • WBCSD Forest Solutions Group

About International Paper

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and other fiber-based products, and one of the world’s largest recyclers. Headquartered in Memphis, Tenn., we employ approximately 39,000 colleagues globally who are committed to creating what’s next. We serve customers worldwide, with manufacturing operations in North America, Latin America, North Africa and Europe. Net sales for 2023 were $18.9 billion. Additional information can be found by visiting internationalpaper.com/.

About International Paper – EMEA

In Europe, Middle East & Africa (EMEA), International Paper focuses on the production and marketing of fiber-based packaging and specialty pulp, employing approximately 4,400 people. As a leading supplier of high-quality corrugated containers for a multitude of applications, we serve customers throughout the region from our network of two recycled containerboard mills and 23 box plants in France, Italy, Morocco, Portugal and Spain. Specialty pulp is made in Gdansk, Poland. Other products available from International Paper in the region include a variety of Kraft linerboard and other pulp products.

Read more

October 1, 2024 /3BL/ – Ceres released new recommendations for the U.S. banking sector, highlighting areas of improvement in the design and implementation of their climate finance target-setting and disclosures. Policies like the U.S. Inflation Reduction Act have spurred trillions of dollars in green financing opportunities, yet there is no consistent methodology for investors or regulators to compare U.S. bank performance.  

In a new report, “Ahead or Behind? The State of Climate Finance in the Banking Sector,” Ceres provides a set of recommendations on how banks can design effective climate finance targets and frameworks, enhance their disclosures for investors, and learn best practices from their peers. The core recommendations include: 

Setting targets and offering climate-linked products and services Focusing on the added impact banks’ actions can provide Using consistent accounting methodologies across the bank’s metrics and targets Articulating clear eligibility criteria for sustainable finance activities Improving the consistency and decision usefulness of information shared in disclosures Aligning with international disclosure standards and frameworks Working with other banks to develop voluntary disclosure standards   

“U.S. banks have committed trillions of dollars to climate finance, but investors and consumers cannot compare banks on these commitments,” said Holly Li, co-author of the report and Net Zero Program Director, Ceres Accelerator for Sustainable Capital Markets. “Our report provides a critical roadmap for banks to demonstrate real impact and additionality in their climate finance efforts so they can measure and show their progress in meaningful ways.”  

The global shift towards a low-carbon economy has unlocked trillions of dollars in investment opportunities for banks. In 2023, green financing generated around $3 billion in fees, surpassing those earned from issuing fossil fuel debt for the second year in a row. Since the passage of the Inflation Reduction Act around $270 billion in new capital investments have been announced in American solar, wind, and battery storage projects. 

“The transition to a low-carbon economy represents risks and massive opportunities for U.S. banks,” said Blair Bateson, co-author and Director of the Company Network, Financial Services at Ceres. “The banks that can differentiate themselves through credible, ambitious climate finance strategies will be best positioned to thrive in the clean energy economy in the coming decade.” 

Ceres guidance supports the work of Ambition 2030, an initiative focused on decarbonizing the six highest-emitting sectors of the economy, including the banking sector. Ceres has released a series of reports detailing the climate-related risk and opportunities for banks, including Sustainable Finance Opportunities: A Guide for Financial Institutions, The Responsible Policy Engagement Benchmarking for Banks, Net Zero Standards for American Banks, US Banks and the road to Net Zero, and specialty reports on banks’ physical risk, transition risk, and derivative-related climate risk.    

About the Ceres Accelerator for Sustainable Capital Markets   

The Ceres Accelerator for Sustainable Capital Markets is a center within Ceres that aims to transform the practices and policies that govern capital markets by engaging federal and state regulators, financial institutions, investors, and corporate boards to act on climate change as a systemic financial risk. For more information, visit ceres.org/accelerator.  

Media Contact: Diane May, dmay@ceres.org, 617-247-0700 ext. 220

Veolia North America Sustainability Report 2024 

Managing, mitigating and preventing the risks of hazardous materials are areas of our deep expertise. As a company originally established to meet environmental challenges, we strive to not just meet requirements, but ensure that we are doing as much as possible to treat air, water and solid waste pollution; remove it from the environment; and whenever possible, regenerate it as a useful resource.

PROTECTING PUBLIC HEALTH AND THE ENVIRONMENT

We seek to meet and exceed all regulatory requirements for environmental performance through our robust environmental management system. The system, which is deployed across our operating sites, ensures a holistic approach to environmental management and documentation. It is closely aligned with the ISO14001 environmental management standards. In fact, six of our North America sites are also ISO14001-certified. The core tenets of our environmental management system are:

Policies and proceduresImplementation plans and resourcingTraining and developmentAuditing and corrective actionRegular management review

A core focus for the year 2023 was harmonizing the environmental auditing program across the region. Over 60 qualified environmental, health and safety auditors in North America continually assess and recommend improvements to the region’s environmental performance.

Another important part of the company’s environmental system is the management and corrective action for high-risk incidents. The company’s management system emphasizes the importance of reporting and learning from potential incidents, as well as active incidents, using the Root Cause Failure Analysis (RCFA) methodology.

During 2023, 91% of level 3 incidents and high potential near misses were analyzed with RCFAs, and corrective action recommendations were communicated across the region.

Learning from actual incidents and near-misses can help to identify hazards, improve procedures and prevent similar incidents from occurring at other sites.

Continue reading the full report 

Authored by: Karen Madden, Chief Technology Officer, the Life Science business of Merck KGaA, Darmstadt, Germany, and Dr. Amy Cannon, Co-Founder and Executive Director, Beyond Benign

Chemistry is integral to life as we know it. It has been formally studied and taught for hundreds of years. Against this timeline, green chemistry is a relatively new concept. It became part of the lexicon following the development of the “12 Principles of Green Chemistry”—a framework for making a greener chemical, process or product—developed by Paul Anastas and John Warner in 1998.

Green chemistry education provides tomorrow’s chemists with a framework for designing chemical products and processes that reduce or eliminate the generation of hazardous substances—which is key to creating a more sustainable future.

We believe that green chemistry education fills another critical role: driving industry innovation.

Despite the differences in their end products or services, businesses across all vertical sectors have one thing in common: Innovate or be left behind.

What if we looked at the imperative for innovation through the lens of sustainability? Furthermore, what if it were possible to address sustainability at the earliest stages of the value chain by better preparing scientists to address hazards and mitigate negative impacts through chemistry?

Our current education systems need to focus more on preparing the next generation of scientists to effectively select and design sustainable chemicals, processes, materials or products. Integrating green chemistry into curriculum and practice in higher education remains a challenge for education systems worldwide. Closing this gap requires approaches like including more green chemistry content in textbooks, providing more resources to develop green chemistry education materials, keeping educators informed about new developments in green chemistry and other factors.

While our organizations come from different places—MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, is a leading science and technology company; Beyond Benign is a global nonprofit focused on green chemistry education—we share the common goal of expanding access to resources and support that is needed to apply greener practices in chemistry education. It is certainly a complex issue, and one that won’t be solved overnight. But there is progress to celebrate.

We believe that together, we can impact life and health with science. In other words, communication and collaboration is the foundation for continued progress. With this in mind, we recently brought together key stakeholders—industry professionals, green chemistry experts, educators and students—to discuss the crucial link between academic research and industry that is needed to foster collaboration for innovation.

In the room were industry professionals from Seventh Generation, Takeda Pharmaceutical; green chemistry experts including Dr. John Warner, who is a founder of the field of green chemistry and co-author of “Green Chemistry: Theory and Practice”; and educators and students from Brown, Gordon College, Harvard, MIT, Northeastern, University of Massachusetts and Yale, among others.

In some cases, green chemistry education is being driven at the grass-roots level. In fact, during a student-led panel discussion, young voices shared how they started green chemistry organizations at their schools and how to advocate for change at the university level.

It’s clear that today’s students recognize the value and applications of green chemistry. Now, what’s needed is for more academic institutions to incorporate green chemistry into their programs so we can prepare and attract the workforce that is needed to drive product and process innovations that are also less harmful to the environment and society. One important step is to become a Green Chemistry Commitment (GCC) signer, which gives educational institutions visibility, motivation, and ideas for implementing green chemistry across their chemistry department. It helps motivate not only the institutions’ faculty and students, but it also promotes the message to other schools, showcasing their commitment towards teaching greener practices in chemistry. There have been over 185 GCC signers to date, reaching more than 4,200 faculty members and engaging over 1 million students each year. Impressive … but there is much more to accomplish.

Meaningful strides in sustainability can only happen when we share best practices and concentrate our efforts on the most impactful areas. The best way to empower our experts in industry is to ensure the next generation of scientists have the resources and support needed to apply greener practices in chemistry at the university level. In many countries, sustainability is not considered a core concept in undergraduate and graduate chemistry education.

And so this begs the question: if we train enough students in the principles of green chemistry, what opportunities could we gain for businesses to positively impact the triple bottom line of profit, people and planet?

Certainly, education is a first step, as it puts the next generation of scientists and innovators on the path to a greener future. Our goal is clear: to expedite our journey towards real, meaningful, and measurable change. By ensuring future scientists are being taught the skills they need, industry can achieve a level of innovation and collaboration where the possibilities are endless.

Authored by: Karen Madden, Chief Technology Officer, the Life Science business of Merck KGaA, Darmstadt, Germany, and Dr. Amy Cannon, Co-Founder and Executive Director, Beyond Benign

Chemistry is integral to life as we know it. It has been formally studied and taught for hundreds of years. Against this timeline, green chemistry is a relatively new concept. It became part of the lexicon following the development of the “12 Principles of Green Chemistry”—a framework for making a greener chemical, process or product—developed by Paul Anastas and John Warner in 1998.

Green chemistry education provides tomorrow’s chemists with a framework for designing chemical products and processes that reduce or eliminate the generation of hazardous substances—which is key to creating a more sustainable future.

We believe that green chemistry education fills another critical role: driving industry innovation.

Despite the differences in their end products or services, businesses across all vertical sectors have one thing in common: Innovate or be left behind.

What if we looked at the imperative for innovation through the lens of sustainability? Furthermore, what if it were possible to address sustainability at the earliest stages of the value chain by better preparing scientists to address hazards and mitigate negative impacts through chemistry?

Our current education systems need to focus more on preparing the next generation of scientists to effectively select and design sustainable chemicals, processes, materials or products. Integrating green chemistry into curriculum and practice in higher education remains a challenge for education systems worldwide. Closing this gap requires approaches like including more green chemistry content in textbooks, providing more resources to develop green chemistry education materials, keeping educators informed about new developments in green chemistry and other factors.

While our organizations come from different places—MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, is a leading science and technology company; Beyond Benign is a global nonprofit focused on green chemistry education—we share the common goal of expanding access to resources and support that is needed to apply greener practices in chemistry education. It is certainly a complex issue, and one that won’t be solved overnight. But there is progress to celebrate.

We believe that together, we can impact life and health with science. In other words, communication and collaboration is the foundation for continued progress. With this in mind, we recently brought together key stakeholders—industry professionals, green chemistry experts, educators and students—to discuss the crucial link between academic research and industry that is needed to foster collaboration for innovation.

In the room were industry professionals from Seventh Generation, Takeda Pharmaceutical; green chemistry experts including Dr. John Warner, who is a founder of the field of green chemistry and co-author of “Green Chemistry: Theory and Practice”; and educators and students from Brown, Gordon College, Harvard, MIT, Northeastern, University of Massachusetts and Yale, among others.

In some cases, green chemistry education is being driven at the grass-roots level. In fact, during a student-led panel discussion, young voices shared how they started green chemistry organizations at their schools and how to advocate for change at the university level.

It’s clear that today’s students recognize the value and applications of green chemistry. Now, what’s needed is for more academic institutions to incorporate green chemistry into their programs so we can prepare and attract the workforce that is needed to drive product and process innovations that are also less harmful to the environment and society. One important step is to become a Green Chemistry Commitment (GCC) signer, which gives educational institutions visibility, motivation, and ideas for implementing green chemistry across their chemistry department. It helps motivate not only the institutions’ faculty and students, but it also promotes the message to other schools, showcasing their commitment towards teaching greener practices in chemistry. There have been over 185 GCC signers to date, reaching more than 4,200 faculty members and engaging over 1 million students each year. Impressive … but there is much more to accomplish.

Meaningful strides in sustainability can only happen when we share best practices and concentrate our efforts on the most impactful areas. The best way to empower our experts in industry is to ensure the next generation of scientists have the resources and support needed to apply greener practices in chemistry at the university level. In many countries, sustainability is not considered a core concept in undergraduate and graduate chemistry education.

And so this begs the question: if we train enough students in the principles of green chemistry, what opportunities could we gain for businesses to positively impact the triple bottom line of profit, people and planet?

Certainly, education is a first step, as it puts the next generation of scientists and innovators on the path to a greener future. Our goal is clear: to expedite our journey towards real, meaningful, and measurable change. By ensuring future scientists are being taught the skills they need, industry can achieve a level of innovation and collaboration where the possibilities are endless.

Originally published on Built From Scratch

The Home Depot was recently honored with three awards from the U.S. Environmental Protection Agency (EPA):

2024 Safer Choice Partner of the Year2024 SmartWay Excellence Award2024 WaterSense Sustained Excellence Award

These awards recognize The Home Depot for its progress and commitment to choosing products with ingredients that are safer for families, communities and the environment; to sustainably shipping our products and reducing freight emissions in our transportation network; and to helping customers save water by making thousands of WaterSense product models affordable and accessible in thousands of stores across the U.S.

“At The Home Depot, sustainability is a responsibility. These awards highlight our ongoing commitment to making a positive impact on the environment. As we continue to innovate and collaborate with our partners, our focus remains on driving meaningful change that benefits our customers, communities and the planet.”

– Candace Rodriguez, senior director of sustainability at The Home Depot

Safer Choice helps consumers, businesses and purchasers find products that contain ingredients that are safer for human health and the environment. Companies who make products carrying the Safer Choice label have invested heavily in research and reformulation to ensure that their products meet the Safer Choice Standard.

The EPA’s SmartWay Transport Partnership is a market-driven initiative that empowers businesses to move goods in the cleanest, most energy-efficient way possible, while protecting public health and reducing air pollution.

WaterSense is both a label for water-efficient products and a resource for helping you save water. Products with the WaterSense label meet EPA specifications for water efficiency and performance, making it easier to find toilets, faucets and sprinkler systems that conserve water in and around your home.

Learn more about The Home Depot’s commitment to sustainability by visiting our Eco Actions website or by reviewing the latest ESG report.

Keep up with all the latest Home Depot news! Subscribe to our bi-weekly news update and get the top Built from Scratch stories delivered straight to your inbox.

Originally published on Built From Scratch

The Home Depot was recently honored with three awards from the U.S. Environmental Protection Agency (EPA):

2024 Safer Choice Partner of the Year2024 SmartWay Excellence Award2024 WaterSense Sustained Excellence Award

These awards recognize The Home Depot for its progress and commitment to choosing products with ingredients that are safer for families, communities and the environment; to sustainably shipping our products and reducing freight emissions in our transportation network; and to helping customers save water by making thousands of WaterSense product models affordable and accessible in thousands of stores across the U.S.

“At The Home Depot, sustainability is a responsibility. These awards highlight our ongoing commitment to making a positive impact on the environment. As we continue to innovate and collaborate with our partners, our focus remains on driving meaningful change that benefits our customers, communities and the planet.”

– Candace Rodriguez, senior director of sustainability at The Home Depot

Safer Choice helps consumers, businesses and purchasers find products that contain ingredients that are safer for human health and the environment. Companies who make products carrying the Safer Choice label have invested heavily in research and reformulation to ensure that their products meet the Safer Choice Standard.

The EPA’s SmartWay Transport Partnership is a market-driven initiative that empowers businesses to move goods in the cleanest, most energy-efficient way possible, while protecting public health and reducing air pollution.

WaterSense is both a label for water-efficient products and a resource for helping you save water. Products with the WaterSense label meet EPA specifications for water efficiency and performance, making it easier to find toilets, faucets and sprinkler systems that conserve water in and around your home.

Learn more about The Home Depot’s commitment to sustainability by visiting our Eco Actions website or by reviewing the latest ESG report.

Keep up with all the latest Home Depot news! Subscribe to our bi-weekly news update and get the top Built from Scratch stories delivered straight to your inbox.

Originally published on QSR

Nothing motivates Jamie Harrison more than perfecting Taco Bell’s team member experience, which includes over 260,000 employees. As a restaurant veteran who started as a frontline worker three decades ago, she’s passionate about unlocking opportunities for others to do the same.

After spending five years at Yum! Brands as Pizza Hut’s chief people officer, Harrison stepped into a new role as VP of human resources for Taco Bell in May. A longtime admirer of Taco Bell’s rebellious and creative spirit, she jumped at the chance to explore what makes the brand magical for both team members and guests.

Continue reading here. 

Originally published on QSR

Nothing motivates Jamie Harrison more than perfecting Taco Bell’s team member experience, which includes over 260,000 employees. As a restaurant veteran who started as a frontline worker three decades ago, she’s passionate about unlocking opportunities for others to do the same.

After spending five years at Yum! Brands as Pizza Hut’s chief people officer, Harrison stepped into a new role as VP of human resources for Taco Bell in May. A longtime admirer of Taco Bell’s rebellious and creative spirit, she jumped at the chance to explore what makes the brand magical for both team members and guests.

Continue reading here. 

Originally published on GoDaddy LinkedIn

Welcome to the latest issue of the GoDaddy Venture Forward newsletter! Here we share our latest exclusive data, insights and news about small and microbusinesses.

Venture Forward is a GoDaddy research initiative started in 2018 to quantify the growth and impact of online microbusinesses on their local economies, and to provide a unique view into the attitudes, demographics and needs of these entrepreneurs. To date, Venture Forward has surveyed more than 50,000 entrepreneurs with a digital presence, making it the source for microbusiness data and insights. GoDaddy defines microbusinesses as small businesses with a unique domain, an active website and most often fewer than 10 employees.

If you haven’t already, subscribe to this newsletter to get updates in your LinkedIn feed each quarter!

Alexandra Rosen 
Global Head, Venture Forward

Updated Microbusiness Data Hub

We refreshed the Venture Forward Microbusiness Data Hub through June 2024, or Q2, across Australia, Canada, U.K. and U.S., including updated microbusiness density data, U.S. Microbusiness Activity Index and global e-commerce trends.

Here are two sets of rankings – the first by sector of the economy and the second by microbusiness density across geographies – for the U.S., U.K., Canada and Australia:

Top five e-commerce industries (based on order count) in each country:COUNTRYTOP2ND3RD4TH5THU.S.BeautyHealth/MedicalRetailFitness/WellnessFashionU.K.BeautyPetsHealth/MedicalFitness/WellnessRetailCanadaBeautyHealth/MedicalFitness/WellnessSportsAutoAustraliaHealth/MedicalBeautyFitness/WellnessEducationPetsSource: GoDaddy Venture Forward, Q2 2024Top five areas ranked by microbusiness density (the number of microbusinesses per 100 people) in each country: COUNTRYTOP2ND3RD4TH5THAustralia (SA3)Adelade CitySydney Inner CityMelbourne CityNorth Sydney – MosmanEastern Suburbs – NorthMicrobusiness Density

6

6

5

5

4

Canada (Province)British ColumbiaOntarioAlbertaQuebecYukonMicrobusiness Density

3

2

2

2

1

U.K (Constituency)Cities of London and WestminsterStoke-on-Trent SouthSt AlbansHolborn and St PancrasHackney South and ShoreditchMicrobusiness Density

23

14

9

9

8

U.S. (Lg. Metros: pop. 400K+)New York, NY

Tulsa, OK

Las Vegas, NV

Ft. Lauderdale, FL

Miami, FL

Microbusiness Density

29

27

20

20

19

      Source: GoDaddy Venture Forward, Q2 2024    

Download the data.

GoDaddy/UCLA Anderson Forecast: Microbusiness Activity Index (MAI) 2024 annual report

Job creation due to digital infrastructure investment skyrocketed since the start of the pandemic. Recent data from GoDaddy and UCLA Anderson Forecast shows that digital infrastructure improvement created more than 280,000 jobs nationwide – equivalent to the entire population of Reno, Nevada – between April 2020 and March 2024.

Growth in infrastructure index, April 2020 and March 2024STATEGROWTH IN INFRASTRUCTURE INDEXMAI COMPOSITEINFRASTRUCTUREPARTICIPATIONENGAGEMENTMississippi9%98.197.496.3104.4Alabama8%100.399.898.0104.3Louisiana7%99.799.098.1103.6New Mexico7%100.199.698.2103.7Tennessee7%102.2101.899.8103.8Kentucky7%101.4100.898.3105.4Arkansas7%99.899.397.3104.9West Virginia6%98.496.796.8105.4South Carolina6%102.4102.699.7103.4Oklahoma6%102.0102.499.7102.6

Other excerpted highlights of our 2024 report

“Recent months saw a rise in the MAI, driven by increased microbusiness engagement and Generative AI tool adoption, enabling entrepreneurs with limited resources to boost productivity and compete effectively with larger companies. 
 On average, each additional entrepreneur generates over 7.4 jobs locally. Microbusiness participation also contributes to greater labor force participation.

“For context, in July 2021, the UCLA Anderson Forecast, in partnership with GoDaddy, launched a new MAI that analyzes the formation, growth, and dynamics of online microbusinesses, using data provided by GoDaddy. The MAI demonstrates a strong correlation with key economic indicators, including employment, unemployment, GDP, and offers timely insights into local economic activity. The report, featuring commentary, analysis, and the latest indices, continues to be published annually.”

Read the full report.

Regional Impact

Q&A: Getting to know the University of Missouri Small Business Development Center team that leverages Venture Forward data for statewide economic development planning

The University of Missouri’s extension program has created an interactive dashboard to visualize GoDaddy Venture Forward’s geographical data, empowering staff at the university’s Small Business Development Center to counsel microbusinesses and educate local residents. The dashboard tracks microbusiness density (aka microbusinesses per 100 people) and the MAI, which tracks dozens of factors that impact the success of online microbusinesses. The dashboard is a powerful tool to provide economic briefs for small business counselors and data training for working professionals, among other uses.

Read more.

Entrepreneurship doesn’t require a four-year degree

A four-year degree isn’t required for successful entrepreneurship. GoDaddy Venture Forward data shows that U.S. microbusiness owners with a college degree and those without contribute similar amounts of income to their household.

A significant portion of microbusiness owners without a college degree make a six-figure income, regardless of gender. Over one-third (34%) of women without a college degree and almost half of men (47%) without one make over $100k pre-tax from their microbusiness.

Women without college degrees have more long-term dreams. They are more likely to have started their business because they always dreamed of doing so (26%), compared to women with college degrees (20%). Women without college degrees are also 6% more likely to have started because they wanted to be their own boss. 
 Women with college degrees are more community-oriented. They are more likely to have started their business to contribute to their community (24%), compared to women without a college degree (19%).

Read more.

In the news

U.S.

Internet expansion helps small businesses expand, too, study shows – Tech Brew

“As internet access grows, so do job opportunities, according to new data from web hosting company GoDaddy.

“The domain registrar’s research arm, Venture Forward, teamed up with economists at the UCLA Anderson Forecast to analyze state and local economic activity alongside web-hosting data, ultimately returning a composite score for the robustness of online business in a given area, Alexandra Rosen, global head of Venture Forward, told Tech Brew.

“The most recent results revealed that ‘digital infrastructure improvement created nearly 300,000 jobs nationwide between April 2020 and March 2024,’ GoDaddy said.”

Read more in Tech Brew.

U.K.

Degree of uncertainty: Are young entrepreneurs skipping higher education? – City A.M.

“Young entrepreneurs are skipping the traditional path of higher education in favour of starting their own businesses, new research has shown.

“Of the half a million digital microbusinesses surveyed by GoDaddy’s research initiative Venture Forward, 22 per cent of entrepreneurs under the age of 30 said they had started their business after their A-levels instead of pursuing a university degree. This is double the national average of 11 per cent.

“A majority of those — 76 per cent — who traded in the prospect of lecture halls for real-world experience also said they are ‘glad’ to not have the ‘burden’ of debt sitting on their shoulders.”

Read more in City A.M.

Australia

Why this patch of south-east Queensland is a micro-business hotspot – Sydney Morning Herald

“Tamborine, population 7500, is one of a few major towns in the Gold Coast hinterland – an area with the second-highest density of micro-businesses in Australia, research found.

“GoDaddy’s Venture Forward study this year defined micro-businesses as those with fewer than 10 employees, including solo entrepreneurs, specifically looking at those that had a presence online.

“Where most parts of south-east Queensland have one or two of these businesses for every 100 residents, the Gold Coast hinterland – made up of the towns of Springbrook, Canungra and Beechmont, along with Tamborine – has more than 11.”

Read more in the Sydney Morning Herald.