- There's an unseen driving
force in the economy.
That's been hidden for a very long time.
And that's the ventures.
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In the US alone,
it's estimated there are
over 40 million ventures.
They are the mom and pop
shop that makes donuts.
They are the online retailer.
And as widespread as they are,
they often haven't been
considered as a key part
of driving economic health.
But what we found, is that their impact,
is really significant.
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The first thing that we found
is that communities
that have more ventures
would see higher gains and income growth.
If there was one additional,
highly active venture,
that county on average,
would've seen 11% growth
in annual household median income.
So that is the equivalent
of $408 for each household.
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Ventures play a key role
in recession recovery.
We found that communities
that have more ventures,
have recovered faster and more fully
from The Great Recession of 2008.
And so in economic downturns,
ventures really help communities
in really tough times.
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Really surprising finding was that,
ventures are directly associated
with helping drop unemployment rates.
It's effect held through COVID-19,
communities, When they have more ventures,
will start seeing a decline
in low income job loss.
So ventures help offer and mitigate
against the effects of COVID-19.
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We think it's so important
to support the same ventures
that support us in our communities.
So with that, all of
our data and insights,
are publicly available and
we want to arm policy makers
so that they can make the decisions
and help his ventures
in their communities,
take more of root and thrive further.
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