GoDaddy: Capital Region leads NYS for Microbusiness Growth Since Pandemic Started
The Capital Region leads New York for growing its ranks of microbusinesses with websites since the start of the pandemic, according to data from the largest domain registrar GoDaddy.
Between 2020 and 2022, the number of active GoDaddy-registered microbusinesses in the eight-county Capital Region increased by 6.2 percent to an annual average of 53,194. The Long Island region had New York’s second fastest microbusiness growth rate for that two-year period of 4.5 percent. According to GoDaddy, a microbusiness is “a business with fewer than 10 employees and is an entity with a discrete domain name and an active website. This can be a website for a company, non-profit, cause, or idea and may include services like email, online payments, or security.
Within the Capital Region, three counties ranked among New York’s top 10 for microbusiness growth between 2020 and 2022. Warren County’s annual average of microbusinesses increased by 12.2 percent to 4,647 – the fifth fastest growth rate in the state. Albany County ranked seventh with a growth rate of 10.7 percent and Saratoga County ranked eighth with a rate of 8.2 percent. Washington County saw the second steepest decline in microbusinesses among New York’s 62 counties with a rate of -14.5 percent.
During the same period, the five-county Albany-Schenectady-Troy metropolitan statistical area (MSA) experienced a 6.4 percent increase in annual average microbusinesses to 42,325. That was the 12th fastest growth rate among 50 Northeast metros and the 155th fastest rate among 392 MSAs nationwide.
CEG INITIATIVES
As a regional technology center under the New York Manufacturing Extension Partnership program, CEG’s Business Growth Solutions (BGS) unit offers a menu of support services for entrepreneurs. CEG is also an operational partner of Innovate518, a collaborative effort managed by the University at Albany of incubators and accelerators and co-working spaces.
On April 20, CEG BGS will host a VentureB pitch event and it is preparing to host a VentureB Innovation Series, which will feature four consecutive workshops for startups/entrepreneurs. CEG is also an affiliate of the Capital Region Chamber, which provides support services for entrepreneurs include, loan programs, entrepreneur boot camps and an MWBE program.
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