Family businesses buck the COVID-19 trend

In the midst of a global economic decline and with lockdown policies in place, Australian families are coming together to meet the challenges by starting their own businesses.

According to research conducted online hosting platform GoDaddy, released to coincide with National Families Week, four in 10 (41 per cent) respondents have said that they are starting or growing a business or hobby online with at least one member of their immediate family.

Beyond the economic benefits, the research also found that 87 per cent say that these activities provided an overwhelmingly positive impact in terms of strengthening their family relationships.

GoDaddy Australia Marketing Director Suzanne Mitchell said of the findings, “Australians are turning to a variety of online activities to help come closer together during a time when the health response to COVID-19 has kept us physically apart.

“This unprecedented situation has brought out the ingenuity, entrepreneurialism and innovation of families all over Australia. Whether it’s to start a business, catch up with family and friends or just enjoy an online yoga class, the fact that the overwhelming majority of Australians surveyed intend to continue their online activity is testament to the potential the internet has in helping us rebuild – both socially and economically. ”

The research reveals that it is mainly younger generations leading the entrepreneurial efforts, with three-quarters of all businesses started online primarily belonged to Millennial and Gen Z entrepreneurs. Also worth noting in findings is that 18 per cent these new business owners live in rural areas, despite them making up only 10 per cent of the population. Mitchell believes that the eagerness among Aussies to start or grow online ventures even in the middle of a lockdown is an indication that the internet has become an omnipresent part of everyday life for many people.

“What Australian families have discovered during this period is the versatility of online interactions,” Mitchell said. “Where previously we may have banked online, or used their social media platforms, we are now dramatically broadening the scope of our online activity

“We are starting family businesses without leaving the house, enrolling in courses to stave off the boredom of lockdown, starting websites to promote business or express our interests, and just calling one another by video to stay connected,” Mitchell added.

“With such an overwhelming number of respondents intending to continue their online activity even when lockdown restrictions end, it’s evident that whether socially or professionally, online is a big part of our future.”

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