Exploring Alternative Funding Models for Small Businesses

ACCESSWIRE06-28 04:45

NORTHAMPTON, MA / ACCESSWIRE / June 27, 2024 / GoDaddy GoDaddy Venture Forward joins thought leaders to discuss the outsized impact of America's small businesses at the 2024 Milken Institute Global ...

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GoDaddy Venture Forward joins thought leaders to discuss the outsized impact of America's small businesses at the 2024 Milken Institute Global Conference.Originally published by GoDaddy's Venture Forward Research Initiative. Despite record new business formation, which is outpacing population growth by 10% according to GoDaddy Venture Forward, access to capital remains a top challenge for microbusinesses. Capital is key to the growth of ventures and consequentially, our greater economy.At the 2024 Milken Institute Global Conference, I joined a panel tackling the crucial question: \"How can we innovate to establish better funding models, given the essential role small businesses play in job creation and economic growth?Our discussion opened with the acceleration of new small and microbusiness starts in recent years and their outsized impact on local economies - driving up local gross domestic product , median household income and jo","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2491050154.USD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (USD) ACC","BK4588":"碎股","LU2491050071.SGD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","BK4528":"SaaS概念","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0444971666.USD":"天利全球科技基金","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","GDDY":"Godaddy Inc.","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD","LU2095319765.USD":"Natixis Thematics Subscription Economy R/A USD","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4116":"互联网服务与基础架构","BK4213":"石油与天然气的勘探与生产","GDP":"古德里奇"},"translate_title":"探索小型企业的替代融资模式","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GDP":1,"GDDY":0.9},"content_text":"NORTHAMPTON, MA / ACCESSWIRE / June 27, 2024 / GoDaddy\nGoDaddy Venture Forward joins thought leaders to discuss the outsized impact of America's small businesses at the 2024 Milken Institute Global Conference.\n\n\n\n\n\n\n\nOriginally published by GoDaddy's Venture Forward Research Initiative\nBy Alexandra Rosen, Global Head of GoDaddy Venture Forward.\nDespite record new business formation, which is outpacing population growth by 10% according to GoDaddy Venture Forward, access to capital remains a top challenge for microbusinesses. Capital is key to the growth of ventures and consequentially, our greater economy.\nAt the 2024 Milken Institute Global Conference, I joined a panel tackling the crucial question: \"How can we innovate to establish better funding models, given the essential role small businesses play in job creation and economic growth?\"\nOur discussion opened with the acceleration of new small and microbusiness starts in recent years and their outsized impact on local economies - driving up local gross domestic product (GDP), median household income and job creation. This is in addition to the diversity of people and circumstances embarking on entrepreneurship. We then explored various strategies to enhance access to capital, including evolving underwriting processes and the importance of also offering technical assistance and greater community support.\nPanelist Sekou Kaalund noted how asset ownership helps drive generational wealth and that Black business owners have eight times the wealth of Black non-business owners. Lauren Grattan emphasized the importance of creating more accessible capital steppingstones to help entrepreneurs of all different backgrounds and experiences bring their innovations to life.\nChris Pilkerton shared insights from his tenure at the Small Business Administration, stressing the need for a modernized support system. Eric Cromwell highlighted the importance of meeting entrepreneurs where they are and the role of networking in their long-term success.\nFlexible cash-flow measures are critical to enabling growth.\n\"We don't need to look at different data, but to look at data differently,\" stated Sekou Kaalund, underscoring the importance of evolving how we leverage data.\nMore than 40% of entrepreneurs converted their online microbusiness into their primary income source, according to the Venture Forward 2024 U.S. National Survey. These businesses often start with less than $5,000, and those who invest more initially tend to achieve higher revenues. Allocating time and money faster can accelerate business growth, making it necessary to rethink financial models for small and microbusinesses in this time of innovation.\nSupporting small businesses is not just smart and kind, but economically essential.\nVenture Forward research has also revealed:\n\nFor every microbusiness entrepreneur, more than seven jobs are created at the county-level.\nMicrobusinesses increased by 15% nationwide since 2019.\nMore than one-third of microbusinesses contribute 51% of their household's income.\n\nOur discussion highlighted the critical need for improved funding models to ensure the continued growth and success of small businesses. These enterprises are vital to innovation and economic health, and they enrich communities with their diverse offerings.\nAbout the 2024 Milken Institute Global Conference\nOver 4,000 attendees and tens of thousands of online viewers attended the 2024 Milken Institute Global Conference, themed \"Shaping a Shared Future,\" to explore solutions for the future. As global head of GoDaddy Venture Forward, I had the opportunity to delve into the critical impact of America's small businesses.\nThe panel I joined was moderated by Kristen Fanarakis, associate director of the Small Business Policy and Innovation Initiative at Milken Institute, and also included:\n\nEric Cromwell, founding member of Cromwell Schmisseur LLC.\nLauren Grattan, chief community officer at Mission Driven Finance.\nSekou Kaalund, executive vice president and head of Branch and Small Business Banking at U.S. Bank.\nChris Pilkerton, chief legal and regulatory strategy officer at Accion Opportunity Fund.\n\nReplay the full panel discussion here.\nView additional multimedia and more ESG storytelling from GoDaddy on 3blmedia.com.\nContact Info:Spokesperson: GoDaddyWebsite: https://www.3blmedia.com/profiles/godaddyEmail: info@3blmedia.com\nSOURCE: GoDaddy\n\nView the original \npress release on accesswire.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446593222"}