Tiny Digital Businesses Play Key Role in Local Economies, Study Says [The New York Times]
Meta Platforms, Inc. - Class A (FB)
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Source: The New York Times
In the vast ocean of modern online commerce, Candis Jones, who designs and makes women’s jewelry, is a minnow.No venture capitalist will ever come knocking on her door in Westerville, Ohio. But with skill and hard work, digitally amplified by her website, online store and Instagram account, Ms. Jones has transformed a basement craft project intoa healthy little businessAll that is in doubt now as the economic fallout from the coronavirus outbreak worsens. Her business has not fallen off a cliff yet, down about 20 percent so far but slowing further in the last couple of weeks.Every sale, Ms. Jones said, is cause for “celebration” and “a vote for us to make it through this.”There are millions of small, digitally enabled ventures like hers across America. New research, based on data from 20 million websites, found that these small-scale entrepreneurs generate significant spillover benefits to their communities.The analysis also concluded that counties with more of these ventures experien
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